L&L Holding Company today announced that it has finalized an agreement with the financial technology firm Payoneer to relocate its headquarters to 195 Broadway, its landmark, Class A office building in the heart of Lower Manhattan.
As part of a 10-year lease, Payoneer will relocate from its current offices at 150 West 30th Street to a 42,000-square-foot space across the entire 27th floor of 195 Broadway. The move of Payoneer, which provides digital payment services to customers in over 190 countries and territories, is among the largest office relocations from Midtown to Downtown this year. Payoneer is expected to occupy its new offices in the spring of 2024.
“We look forward to the next step of our journey, relocating our headquarters to the Financial District and creating a new space for employees that fosters collaboration for the benefit of our customers,” said John Caplan, Chief Executive Officer of Payoneer. “The neighborhood has been the longstanding commercial and entrepreneurship heart of the city and reflects the innovative, resilient and inclusive culture of Payoneer.”
“We are delighted to welcome Payoneer to our esteemed roster of creative, cutting-edge companies from the worlds of finance, technology, fashion and media,” said L&L Holding Chairman and Chief Executive Officer, David Levinson. “These businesses continue to be drawn to 195 Broadway for its unbeatable combination of revered architecture, contemporary office spaces, unrivaled access to mass transit and dynamic Downtown location.”
“Relocating to 195 Broadway accomplishes several of Payoneer’s business objectives. Notably, it allows the firm to significantly expand its footprint while simultaneously upgrading its office space across one full floor,” said Jeffrey Peck, a vice chairman at global real estate advisory firm Savills. “In addition to the space and square footage upgrade, the building itself is an extension of Payoneer’s brand identity and ethos, which is rooted in providing its customers with a seamless and secure experience.”
Designed by renowned architect William Welles Bosworth, 195 Broadway served as the global headquarters of the American Telephone and Telegraph Company from 1916 through 1983. The ornate, 1.1 million-square-foot tower, which spans the full blockfront from Fulton to Dey Streets, is located within steps of the Fulton Transit Center and the World Trade Center Transportation Hub, as well as to Lower Manhattan’s famed shopping, restaurants, open spaces and cultural venues, including the newly opened Perelman Performing Arts Center.
In 2017, L&L completed a massive and painstaking redevelopment of the building’s historic Broadway lobby, made famous by its massive marble Doric columns, classic chandeliers and polished bronze. In addition to serving as a grand entrance for office tenants, L&L transformed a key portion of the lobby into a magnificant 50,000-square-foot retail galeria, anchored by acclaimed restaurant Nobu Downtown and retailer Anthropologie.
Payoneer joins an impressive roster of companies located at the 28-story building, which includes international marketing and communications firm Omnicom, leading publishing company HarperCollins, real estate technology company Orchard and global fashion house Gucci.
Payoneer was represented in the transaction by Jeffrey Peck, Daniel Horowitz, Jacob Stern and Roi Shleifer of global real estate advisory firm Savills North America. L&L Holding was represented in-house by Vice President of Leasing James Marcellino.
About L&L Holding Company
L&L Holding Company is a privately held, vertically integrated real estate company founded in 2000 by David Levinson and Robert Lapidus that has acquired or developed over 10 million square feet of prime commercial and residential space in New York and Florida. The company’s current portfolio includes such current and future icons as 425 Park Avenue, 390 Madison Avenue, Terminal Warehouse, TSX Broadway, The Wynwood Plaza, and Central Gardens Grand. For more information, visit www.ll-holding.com
About Payoneer
Payoneer is the financial technology company empowering the world’s small and medium-sized businesses to transact, do business and grow globally. Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not. It is our mission to enable anyone anywhere to participate and succeed in the global digital economy. Since our founding, we have built a global financial platform that has already made it easier for millions of SMBs, particularly in emerging markets, to pay and get paid, manage their funds, and grow their business. www.payoneer.com
About Savills Inc.
Savills is one of the largest integrated commercial real estate advisory firms in the world. With over 600 offices globally, we bring together people, services, and technology to help organizations and investors power people and drive growth. For 160 years, we have connected clients with the local market expertise they need. Savills is commercial real estate unlocked. Learn more at savills.us.
