In an effort to consolidate seven Midtown locations, Citibank renewed its 500,000-square-foot lease at 601 Lexington Avenue, the New York Observer reported. Citibank was previously interest in moving into a new office space during the downturn, according to unnamed Observer sources.
Located between 53rd and 54th streets, Citibank’s 601 Lexington space marks Citibank’s largest facility in Manhattan. The building is owned by Boston Properties. Robert Alexander of CBRE Group led the team that represented Citibank. The rent was not indicated.
Merrill Lynch, who is also a tenant in the building, renewed its lease for the full 46th and 47th floors, which combined are roughly 60,000 square feet. [NYO]