NEW YORK CITY-As the financial services giant reportedly is making moves out of one area of the city, it signs a renewal for 87,444 sf in Midtown. The 12-year deal has a value of $57 million. According to a published report, the company intends to move 1,000 back office employees out of Lower Manhattan and place them in Morris County, New Jersey.

Its consumers banking unit for one is staying right where it is at the Citicorp Center at 153 East 53rd St. Citibank NA., which was represented by the Staubach Co.’s managing principal Patrick Robinson and director James Wenk, signed renewals for the 25th and 23rd floor. Frank Doyle, managing director of Jones Lang LaSalle, represented landlord Boston Properties in the leasing transaction. Robinson says the company had a lot of spots in the city to choose from for its consumer unit. “In the end, it decided its needs were best served by remaining at Citicorp Center.”

According to a Cushman and Wakefield second-quarter market report, the Downtown market is picking up with particular interest being shown from law firms making deals in the area. CB Richard Ellis statistics note that 2.5 million sf of leasing so far this year have outpaced 2003 mid-year showing of 2.4 million sf.

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