Chainalysis Trades Up to Four-Floor Lease at 114 Fifth Ave.
L&L Holding Company completed a multi-floor lease conversion, extension and expansion with blockchain data platform Chainalysis at 114 Fifth Ave. in the Flatiron District. The tenant will expand into 77,608 square feet across four floors.
Chainalysis has occupied 38,804 square feet across two floors of 114 Fifth on a short-term sublease since the third quarter of 2021. To accommodate Chainalysis’s desire to remain and grow within the property, L&L converted the tech firm’s expiring sublease into a direct lease starting in 2022.
Concurrent with its negotiations with Chainalysis, L&L quickly executed a lease termination agreement with the current tenant for the additional two floors. The newly-combined direct lease will run through 2036.
Chainalysis was represented in the transaction by Savills vice chairman Marc Shapses and senior managing director Roi Shleifer, while ownership was represented by L&L VP and director of leasing Andrew Wiener.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!