SAN FRANCISCO — A New York property owner agreed yesterday to pay $1.05 billion to purchase the Bank of America building, a staple of this city's skyline.

Hudson Waterfront Associates acquired the building from 555 California Owners LLC, owners of the 1.8 million square foot complex, which opened in 1969.

"We are pleased to have reached agreement on the sale of these signature buildings in San Francisco," the companies said in a joint statement.

Shorenstein Realty Services will continue as leasing agent and property manager of the 52-story building, listed as the city's tallest until the Transamerica Pyramid opened in 1972.

The purchaser is a subsidiary of Hudson Waterfront Associates I, L.P.