Fintech Company Adyen Leases 90K SF in Adjacent Fifth Avenue Buildings

A pair of corporate tenants inked two separate lease deals for a total of 110,000 square feet at the Winter Organization-owned conjoined buildings at 111 and 115 Fifth Avenue in Manhattan’s Flatiron District, Commercial Observer has learned. 

The larger of the two deals is a 90,000-square-foot lease signed by Adyen. The fintech company will occupy the entire fourth floor at 115 Fifth Avenue, as well as the entire fourth and fifth floors at 111 Fifth Avenue. The fourth floor connects between the two buildings. 

The length of the lease is for 10 years at an asking rent of $89 per square foot, a source close to the deal told CO. 

Ayden was represented in the deal by Justin Haber and Kyle Riker from JLL, while David Falk, Rob Silver and Anthony Sciacca from Newmark represented the landlord. Newmark declined to comment on the lease, and JLL did not immediately respond to a request for comment. 

Additionally, energy investment company Galvanize Climate Solutions has taken 20,000 square feet on the third floor at 111 Fifth Avenue. This deal is also for 10 years at an asking rent of $89 per square foot, the source noted.

The landlord was represented by Newmark’s Falk, Silver and Sciacca, while JLL’s Greg Wang and Kristen Morgan represented Galvanize.

The Winter Organization did not immediately respond to a request for comment. 

111 Fifth Avenue is a 13-story office building with corporate tenants including geolocation platform Radar Labs. 115 Fifth Avenue is a 12-story office building with tenants including marketing consulting firm Prophet. 

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