Crypto data firm doubles space at Flatiron office

Chainalysis to occupy 4 floors, 78K sf at 114 Fifth Ave.

New York /
Jan.January 19, 2022 02:45 PM

Michael Gronager, chief executive officer, Chainalysis, in front of 114 Fifth Avenue (Chainalysis, LoopNet/Illustration by Steven Dilakian for The Real Deal)

Cryptocurrency data and transaction company Chainalysis signed up last month to lease more than 77,000 square feet at L&L Holding Company’s 114 Fifth Avenue, according to the Commercial Observer.

Chainalysis was subleasing nearly 39,000 square feet across two floors from First Look Media since the third quarter of 2021, according to the Commercial Observer. The company appears to like the space, as it reportedly signed a direct lease with the landlord for the space it already occupied and two additional floors.

According to the Observer, Chainalysis’s sublease with First Look Media will be converted to a 14-year direct lease at the beginning of 2025 and will run through 2036. The company will begin to move into its other space on July 1 after marketing and communications company AKQA departs; Chainalyis is also replacing WPP in the building.

“We were able to accommodate their growth,” Andrew Wiener, L&L’s director of leasing, told the outlet. “I think for Chainalysis, they were very happy with building ownership and then they were very happy to be able to grow contiguously, even though they had just signed a sublease.”

Savills’ Marc Shapses and Roi Shleifer represented Chainalysis in the lease negotiations. There were no asking rents for the space, but a source told the Observer the typical asking prices in the building are close to $125 per square foot.

Chainalysis provides data, software, services and research to the government, financial institutions, insurance and cybersecurity companies across the world.

The building, which is jointly owned by L&L Holding, Columbia Property Trust and Allianz Real Estate, is fully leased. Other tenants in the building include Mastercard and Capital One.

The Flatiron District has seen leasing momentum in recent weeks. Microsoft recently signed a lease for 150,000 square feet at the Bromley Companies’ 122 Fifth Avenue, which is under renovation.

[CO] — Holden Walter-Warner





    Related Articles

    arrow_forward_ios
    135 West 50th Street in Manhattan in NYC with George Comfort & Sons CEO Peter Duncan (Google Maps, George Comfort & Sons Inc.)
    George Comfort & Sons inks 62K sf tenant in Midtown
    George Comfort & Sons inks 62K sf tenant in Midtown
    Schenectady City Council president Marion Porterfield (Facebook, iStock)
    Destructive tenants driving upstate landlords to despair
    Destructive tenants driving upstate landlords to despair
    ABS Partners Real Estate founder Earle Altman and 270 Madison Avenue (ABS Partners, LoopNet, iStock)
    NY Public Library leases 41k sf for Midtown offices
    NY Public Library leases 41k sf for Midtown offices
    Legion Investment Group's Victor Sigoura and 26 East 84th Street (Getty Images, Google Maps, iStock)
    Old-guard landlords cash out in Manhattan, Bronx multifamily deals
    Old-guard landlords cash out in Manhattan, Bronx multifamily deals
    Ben Shaoul and 1457 North Main Street (Getty, LoopNet)
    Ben Shaoul plans 376-unit complex near L.A.’s Chinatown
    Ben Shaoul plans 376-unit complex near L.A.’s Chinatown
    CHIP executive director Jay Martin (LinkedIn, iStock / Photo illustration by Priyanka Modi)
    Landlords called it: Vacancy rate jumps, rent-stabilization stays
    Landlords called it: Vacancy rate jumps, rent-stabilization stays
    331 Elmora Avenue and 103 Ryan Street (Kislak Realty)
    Tri-state deal roundup: Multifamily, industrial still hot
    Tri-state deal roundup: Multifamily, industrial still hot
    From left: Vice Media CEO Nancy Dubuc, Rudin’s CEO and co-chairman Bill Rudin, and Dock 72 (Getty Images, S9 Architecture, Rudin Management, iStock)
    Vice scraps move to Rudin’s Dock 72
    Vice scraps move to Rudin’s Dock 72
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...