Capital One, the nation’s ninth largest bank, has signed a 52,000 s/f office lease at 11 West 19th Street.
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. The asking rent at 11 West 19th Street is $68 psf.
Bob Savitt, founder and president of Savitt Partners, along with Brian Neugeboren negotiated the 16-year lease on behalf of the building ownership. Dale Schlather of Cushman & Wakefield represented Capital One in the negotiations.
“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, a national retail company recognized for its housewares and home furnishing, recently committed to a 19,000 s/f lease for 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 s/f office property offering full floors of 26,000 s/f and entrances on both 19th and 20th Streets.