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KeyBank expands Manhattan office footprint at 1301 Avenue of the Americas
The bank signed a 15-year lease to add 15,292 square feet, bringing its total to 112,924 square feet across floors 35 through 37 and parts of floors 28 and 38.
KeyBank is expanding its Manhattan office footprint at 1301 Avenue of the Americas, Commercial Observer reports. The lender signed a 15-year lease to renew its existing space and add 15,292 square feet, totaling 112,924 square feet in the Plaza District tower.
The agreement covers the entire 35th, 36th and 37th floors, along with portions of the 28th and 38th floors, according to the landlord. Commercial Observer notes that the asking rent was not disclosed, but it cites CBRE data showing average Midtown asking rent in the second quarter of 2026 was $86.18 per square foot.
KeyBank said the expansion supports its effort to provide a more collaborative workplace as it grows. The company also highlighted the opportunity to upgrade the existing space and keep teams together within one elevator bank, according to statements reproduced by Commercial Observer.
Commercial Observer also points to other tenants in the building, including investment bank Piper Sandler, which signed a lease for 140,000 square feet in August 2025. It adds that Rithm Capital acquired Paramount Group’s portfolio and rebranded the REIT as Elecor in April 2026.