CB Richard Ellis brokered both sides of the transaction at the 29-story tower. David Bernstein, Robert Stillman and Andrew Sussman represented Clifford Chance, while Robert Alexander, David Maurer-Hollaender and Douglas Lehman represented Deutsche Bank.

"This was a four-year search process," Bernstein tells GlobeSt.com, adding that the firm explored space all over the city including Lower Manhattan before settling on the former Deutsche Bank space.

Clifford Chance currently leases 275,000 rsf at 200 Park Ave., 45,000 rsf at 708 Third and 28,000 rsf at 450 Lexington for an approximate total of 348,000 rsf in the Grand Central district. CBRE is working to sublet the space at 200 Park.

"Everyone in the industry speculated for many months about where and when Clifford Chance would land," adds Alexander. "This deal illustrates the inherent strength of the Midtown market as it relates to top quality buildings; 31 W. 52nd St. is, arguably, one of the most sought-after properties in the Sixth Avenue corridor."

And more deals at the property might be in the offing. As Deutsche leaves for Downtown space, an additional 220,000 sf has recently become available at the 725,000 sf building.