Capital One Expands by 97K SF at 114 Fifth Avenue
By Isabelle Durso February 11, 2025 5:29 pm
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Capital One (COF) expanded its office at 114 Fifth Avenue by 96,606 square feet, according to a recent market report from CBRE (CBRE).
The expansion tacks on to the bank’s existing 116,926-square-foot space at the 18-story Flatiron District building, which it signed on for in August 2022, as Commercial Observer previously reported.
Capital One originally took about 40,000 square feet at the office tower owned by L&L Holding Company, Columbia Property Trust and Allianz Real Estate in January 2015.
Capital One’s plans for the additional space weren’t disclosed. The CBRE report said Capital One Labs — the bank’s division that works on “experimental” products and technology — signed the lease.
The length of the new lease and asking rent were unclear, but asking rent was $110 per square foot when Capital One expanded at the building in 2022, as CO previously reported.
It’s also unclear who brokered the deal. L&L, Columbia and Allianz declined to comment, while spokespeople for CBRE, Capital One and Cushman & Wakefield (CWK), which represented Capital One in its 2022 deal, did not immediately respond to requests for comment.
Other tenants of the 350,000-square-foot office building between West 16th and West 17th streets include marketing consultant Acxiom and coworking space Hub Seventeen. Sportswear brand Lululemon leases ground-floor retail space.
Isabelle Durso can be reached at idurso@commercialobserver.com.
