MasterCard Leases all 212K-SF at 150 Fifth Ave.

Mastercard will occupy all 212,500 square feet of space at 150 Fifth Ave., creating an expanded technology hub in the Flatiron District, a part of Manhattan already famous for technology and innovation companies.

“This gives Mastercard the unique ability to expand and further cultivate a center for innovation in Midtown South,” said Robert Lapidus, president and chief investment officer of building owner L&L Holding.

Mastercard will occupy the space starting in mid-2019, after L&L finishes its redevelopment of the 11-story landmark with STUDIOS Architecture and project manager OC Development Management. Renovation will include tear-out interior walls and a staircase to create a more open floorplan.

Mitchell Barnett and Andrew Ross of Cushman & Wakefield represented Mastercard in the transaction. L&L represented itself.

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