Fintech Firm Payoneer Moving HQ to 42K SF at 195 Broadway
By Abigail Nehring November 27, 2023 2:51 pm
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A company that handles online cash payments is transferring its headquarters from Midtown South to a historic address in the Financial District.
Payoneer signed a 10-year lease for 42,000 square feet on the entire 27th floor of the landmarked 195 Broadway, The New York Post first reported. A source with knowledge of the deal said asking rent was $57 per square foot.
The fintech firm is expanding its headquarters by 19,000 square feet in a move from 150 West 30th Street, where it currently occupies 23,000 square feet, according to the Post. It plans to relocate in the spring of 2024, landlord L&L Holding Company said.
The company provides an online platform for businesses to make payments in 70 currencies across the globe, according to its website. It has offices in 24 locations on multiple continents.
“We look forward to the next step of our journey, relocating our headquarters to the Financial District and creating a new space for employees that fosters collaboration for the benefit of our customers,” said Payoneer CEO John Caplan in a statement.
Payoneer was represented by Jeffrey Peck, Daniel Horowitz, Jacob Stern and Roi Shleifer of Savills, while James Marcellino handled the deal in-house for L&L.
Peck said the move allowed Payoneer to meet its objective of expanding its footprint while keeping its headquarters on a single floor.
“In addition to the space and square footage upgrade, the building itself is an extension of Payoneer’s brand identity and ethos, which is rooted in providing its customers with a seamless and secure experience,” Peck said in a statement.
The 29-story tower, also known as the Telephone Building, was the headquarters of AT&T and Western Union from the time of its completion in 1916 until the 1980s.
L&L Chairman and CEO David Levinson said in a statement he was “delighted” to welcome Payoneer to the company’s roster of office tenants, and cited the building’s architecture and access to mass transit as part of its appeal.
Other tenants in the property include marketing firm Omnicom Group, publisher HarperCollins Publishers, proptech firm Orchard and Italian luxury fashion house Gucci.
Abigail Nehring can be reached at anehring@commercialobserver.com.
