Newport Tower at 525 Washington Blvd. in Jersey City — File photo
By Joshua Burd
Bank of America’s future home in Jersey City is taking shape, with construction well underway on the new 548,000-square-foot office space that could open starting next summer.
The financial services giant, which is leasing the space at 525 Washington Blvd. under a deal struck in late 2023, recently updated its employees on the progress of the buildout. The note said construction crews are currently working on the amenity, support and upper floors, some of which could be ready as soon as the summer, while full completion is slated for late 2026.
The space at Newport Tower will bring all BofA employees in Jersey City under one roof. When complete, they’ll have access to relaxation spaces such as a recharge and refocus lounge, two private meditation rooms and a group meditation and yoga room, as well as flexible conferencing space that can hold more than 100 people and a terrace with more than 50 outdoor seats with the backdrop of the Manhattan skyline.
The blockbuster lease with BGO, the owner of the nearly 1.1 million-square-foot Newport Tower, comprises a renewal and an expansion of some 437,000 square feet. Alberto Garofalo, Bank of America’s market president in New Jersey, told Commercial Observer last year that the building’s amenities “really align with our goals, and with our future.”
“We’re really excited about what this transaction means, both for Jersey City and for our Jersey City employees,” Garofalo told CO, later adding: “The building has spectacular views of New Jersey and Manhattan. I’ve always said, if you want the best views of New York City, you’ve got to come to New Jersey — this location is a perfect example of that.”
Cushman & Wakefield’s Robert Rudin, David DeMatteis, Mina Shehata, Dirk Hrobsky, Karl Helgessen, Jan Randall Dausend and Christina Magill represented ownership in the 547,962-square-foot deal. CBRE’s Bob Alexander, Ryan Alexander and Taylor Callaghan represented the tenant.
Bank of America expanding to 548,000 sq. ft. at Jersey City’s Newport Tower
