Brazil’s Banco Itau has signed a 15-year lease for 25,000 square feet on the top floor at the General Motors Building, at 767 Fifth Avenue, between 58th and 59th streets. The lease will take up approximately half a floor. With a rate of more than $130 per square foot, the lease marks the city’s most expensive deal of the year, Crain’s reported. The GM tower is one of a scant few in the city that still rakes in more than $100 per square foot. Others include the Lever House at 390 Park Avenue and the Seagram Building at 375 Park Avenue.

After rumors that General Motors was looking to relocate from the 100,000 square feet of office space it currently occupies at the GM Building at 767 Fifth Avenue between 58th and 59th streets, Boston Properties, which owns the building, may now be offering GM incentives to stay. GM, which is currently paying $90 per square foot on a long-term lease which expires next spring, may receive six months of free rent if it stays put, among other concessions from Boston. Other locations that were considered when the company went bankrupt last year included office space at the Citigroup Center a few blocks away. [Post]