Texas Capital Takes 7K SF at 520 Fifth Avenue

Texas Capital, a full-service financial institution, has signed a 6,697-square-foot lease at Rabina’s 520 Fifth Avenue, the developer announced. 

Texas Capital will be moving to the 28th floor of 520 Fifth Avenue either later this year or early next year depending on the completion of construction. The Texas bank’s current New York City address is listed on its website as 1501 Broadway, two blocks west of its future offices. 

The length of the lease and the asking rent were not disclosed. The average asking rent in Midtown for the second quarter of 2025 was $82.28 per square foot, according to CBRE data.

JLL’s Benjamin Bass, Paul Glickman and Frank Doyle, as well as Clark Finney, Harrison Potter and Robin Olinyk, represented Rabina in this lease. Cushman & Wakefield’s Paul Ferraro and Matthew Livingston represented Texas Capital. 

“Texas Capital Bank was drawn to 520 Fifth’s unique combination of boutique full-floor offices, world-class design, and unrivaled amenities, creating a workplace experience that simply doesn’t exist anywhere else in New York,” Bass told Commercial Observer via email. “We are seeing extraordinary demand from high-profile companies who want to be part of this one-of-a-kind ecosystem at the center of Midtown.”

C&W declined to comment. 

“Our move to 520 Fifth Avenue is reflective of our commitment to strengthening our growing  presence at the heart of one of the world’s most influential financial markets,” Rob Holmes,  chairman, president and CEO of Texas Capital, said in a statement. “With its world-class design and unmatched location, this new office space will provide an exceptional experience for our clients and  employees. We look forward to opening our doors to current and future clients in early 2026.”

520 Fifth Avenue is an 88-story mixed-use tower slated for completion by the end of this year.  Rising a block and a half north of the main New York Public Library, the building offers 100 residences as well as 200,000 square feet of office space. Rabina is also offering a private club and ground-floor retail. 

“Texas Capital’s decision to relocate to 520 Fifth Avenue is a powerful endorsement of the vision  we are realizing — establishing this address as one of New York’s premier business destinations,” Josh Rabina, president and CEO of Rabina, said in the statement. “Once complete at the end of this year, the building will provide our office tenants with a best-in-class work environment.”

Other corporate tenants planning a move to 520 Fifth Avenue include global investment firm JAB Holding Company and private equity investment firm Ancient. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.