The Bank of New York Mellon Corp. is planning to vacate its longtime namesake building in Center City as it reduces its Philadelphia office space, writes Paul Schwedelson for the Philadelphia Business Journal.
Currently located at 1735 Market Street, the financial services firm plans to relocate to the One Logan Square building along the Benjamin Franklin Parkway next year.
The new location could significantly reduce its office space from just under 50,000 square feet to about 15,000 square feet.
According to a BNY spokesperson, the impending move comes as the firm’s 2026 lease is also set to expire in next year
“This move underscores our long-term commitment to Philadelphia, our locally based clients and maintaining a vibrant office presence in the city,” the spokesperson said.
BNY had previously reduced its office space from about 180,000 square feet to around 47,000 at its Market Street location about a decade ago.
This upcoming move comes while BNY is also in the midst of a companywide reevaluation of its office needs and its space modernization to become more efficient.
Thankfully, the move to One Logan Square isn’t expected to lead to any terminations.
Read more about the Bank of New York Mellon’s planned 2026 relocation in the Philadelphia Business Journal.
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Editor’s Note: This post was originally published on PHILADELPHIA.Today in November 2025.
