Bank of America may sell most of its properties

NEW YORK - Bank of America, the second-largest US lender by assets, may sell all its offices as part of the company’s effort to cut costs, sparing only its headquarters in North Carolina and New York City.

“We are currently reviewing all of our properties across our portfolio, with the exception of Bank of America Corporate Center in Charlotte and Bank of America Tower at One Bryant Park’’ in Manhattan, Kelli Raulerson, a spokeswoman, said yesterday.


The lender owned or leased about 120 million square feet in 26,910 locations at the end of 2010, according to its last annual report.

Chief executive Brian T. Moynihan is eliminating at least 30,000 positions and seeking to trim as much as $8 billion in expenses. If Bank of America sells buildings, it will lease back space for operations, the company said.

The Boston Globe reported yesterday that the bank is reviewing whether to sell its building at 100 Federal St. in Boston.

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