"Adyen's lease covers the connected fourth floors of 111 and 115 Fifth Avenue, plus the fifth floor at 111, on a 10-year term with an asking rent near $89 per square foot. The contiguous fourth floor plate provides Adyen with a clean, efficient footprint that operates across two addresses without the usual patchwork of split floors and awkward corridors."
"Galvanize Climate Solutions signed for about 20,000 square feet at 111 Fifth Avenue on a lease that matches Adyen's term and asking rent. The commitment adds an energy-focused corporate tenant to a block that has increasingly filled up with tech and marketing outfits."
The Winter Organization has secured two major office leases in Midtown South, with Adyen leasing approximately 90,000 square feet and Galvanize Climate Solutions taking about 20,000 square feet. Both leases are long-term and priced above the neighborhood average. Adyen's lease includes contiguous space across two buildings, providing an efficient layout. Galvanize's lease adds an energy-focused tenant to a block increasingly occupied by tech and marketing firms. This success is significant in a challenging market for landlords.
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