Boston Properties purchased the office and retail complex last April for $725 million ($755 million including closing costs and other expenses) from Dai-ichi Life Investment Properties, which acquired a two-thirds condominium stake in the building in 1987. This year's deal was a complicated transaction that involved the sale by Citibank of its one-third interest to Dai-ichi and subsequently to a Boston Properties joint venture with Allied Partners. LaSalle Investment management, an arm of Jones Lang, advised Dai-ichi on the sale.

Citibank occupies more than 500,000 sf on 18 floors of the 1.6 million-sf building, which is 100% leased. Other tenants include Barnes & Noble, Banc of America Securities and Ziff Brothers Investments.

Frank Doyle, managing director of leasing and management at JLL notes on the assignment that, "This contract represents the first time that Boston Properties will be using the services of Jones Lang LaSalle as leasing agent of a New York City property."