Savitt and Neugeboren of Savitt Partners lease 52,000 s/f with Schlather of Cushman & Wakefield

 

 

Manhattan, NY Capital One has signed a 52,000 s/f office lease at 11 West 19th St. Capital One previously inked a 78,000 s/f sublease on floors two, three and four. The new direct lease transaction on the fifth and sixth floors brings the financial institution’s total occupancy in the Flatiron District office building to 130,000 s/f.  

Bob Savitt, founder and president of Savitt Partners, with Brian Neugeboren negotiated the multi-faceted, 16-year lease on behalf of ownership. Dale Schlather of Cushman & Wakefield represented Capital One. 

“Capital One’s direct lease for an additional 52,000 square feet speaks to its commitment to the property and is yet another example of the allure of 11 West 19th Street and the Flatiron District overall as the prime location for major office space users,” said Savitt. “We are thrilled we were able to secure a long-term lease with a company of Capital One’s caliber and worldwide recognition.”

Capital One joins fashion powerhouse designer Tory Burch, the other major tenant in the building, which currently occupies five full floors.

In addition to the Capital One lease, Williams Sonoma (WSM: NYSE), a national retail company that is widely recognized for its high-quality housewares and home furnishing, recently committed to a 19,000-square-foot lease for prime retail space at the property. Williams Sonoma will be opening a Pottery Barn store on the ground floor with entrances on both 19th and 20th Streets.  

Built in 1902 and situated in the heart of the Chelsea-Flatiron District, 11 West 19th Street is an 11-story 280,000-square-foot office property offering full floors of 26,000 square feet and entrances on both 19th and 20th Streets. The office building has an elegant, rusticated facade with arched windows on the second, ninth and eleventh floors, three stringcourses and a robust cornice. It boasts a renovated lobby with 20-foot ceilings, on-site property management, updated elevators, 24/7 building access, lobby attendant and is conveniently accessible to many restaurants, shops and modes of transportation.

Savitt Partners is a full-service commercial real estate company headquartered in New York City. Founded by Bob Savitt, the firm owns and/or operates a portfolio totaling nearly three million square feet of office and showroom buildings in Manhattan, including 530 Seventh Avenue, 499 Seventh Avenue, 11 West 19th Street, 218 West 40th Street, 693 Fifth Avenue, 1385 Broadway, 142 West 36th Street and 234 West 39th Street. In addition to overseeing the leasing and management of its own assets, the firm provides superior leasing, asset and property management and investment services to other quality owners and tenants.