JLL and Madison Capital have completed a 30,415-square-foot lease at 71 Fifth Avenue in Union Square with Dutch payment company Ayden.
The tenant signed for 15,177 s/f across the entire 10th floor and 15,238 s/ffor the entire 11th floor penthouse, relocating and expanding from 18 East 16th Street.
Adyen, a global payment platform that allows businesses to accept e-commerce, mobile and point-of-sale payments, employs over 1,700 people across 24 offices worldwide. Adyen was represented by Rory Murphy, partner, and Thomas Hines, senior vice president, with Transwestern. Landlord Madison Capital was represented by Mitchell Konsker, vice chairman; Dan Turkewitz, executive managing director, and Benjamin Bass, managing director, with JLL, along with J. Joseph Jacobson, co-founder & partner; Jonathan Ratner, managing director, and Cindy Chang, associate, with Madison Capital.
Constructed in 1907, the 11-story property has undergone an intensive capital improvement program, including new building entrances, remodeled lobbies, modernization of five elevators, façade enhancements and the creation of an exclusive entrance and lobby on 15th Street with signage potential. The duplex penthouse features six skylights, 13.6 ft. ceiling heights, oversized windows, restored columns and vaulted ceilings.
“This property provides superior space in an ideal location,” Konsker said. “The space benefits from the vibrant neighborhood and provides an opportunity for tenants to attract the best talent due to the flexible floor plates, location and building amenities.”
“We are pleased to welcome this leading technology and finance company to 71 Fifth Avenue,” Jacobson said. “The company will add to the eclectic mix of tenants in the building and in the surrounding neighborhood.”
“Adyen is a premier global company in expansion mode,” added Ratner. “Their commitment to New York demonstrates the City’s resilience and the enduring appeal of dynamic areas like Union Square.”