Capital One Bank grows office space at 114 Fifth Ave. up to 116,926 s/f

New York, NY L&L Holding Company has finalized an agreement with Capital One Bank to grow its offices at 114 Fifth Ave. to 116,926 s/f and extend its lease.

Owned by a joint venture of Columbia Property Trust, Allianz Real Estate and L&L Holding Company, which is leading the leasing efforts, 114 Fifth Ave. is fully occupied by a tenant roster that features Mastercard and Chainalysis. 

As part of its 12-year lease extension, Capital One will expand by approximately 60,000 s/f across three full floors at 114 Fifth. This expansion will bring Capital One’s presence in the building to approximately 116,926 s/f across the second through seventh floors. 

Capital One has offices at 114 Fifth that house its Capital One Lab. The Lab was created to explore the intersection of emerging technology and finance to build innovative products, consumer experiences and engineer solutions that advance Capital One as a leader and better the lives of its customers.

Ownership was represented in the transaction by L&L Holding Company executive vice president and director of leasing David Berkey, while Capital One was represented by Cushman & Wakefield executive vice chairman Dale Schlather and senior director Greg Herman.

“Capital One was one of the first companies to sign on at 114 Fifth Ave. at the conclusion of an extensive redevelopment program intended to foster an ideal environment for innovation and creativity,” said Berkey.  “We are thrilled to accommodate their continued expansion, which is indicative of the ongoing need among cutting-edge companies for top-quality workspaces in New York City’s most dynamic neighborhoods.”