Australian bank Macquarie is set to lease a floor of Burlington Plaza, the office block in Dublin 4 that was developed by the Kelly and Flynn families, AIB investment managers and private clients.
The building is now said to be worth between €80m and €90m having been valued at one stage at €350m.
The office block cost about €110m to construct, excluding the cost of land, and was developed on the site of the former ESRI offices.