A company specialising in international payments and currency risk management plans to relocate its headquarters to 560 Lexington Avenue, a Rudin building. Corpay Cross-Border Solutions, a division of corporate payments company Corpay, has signed an eleven-year lease for 17,778 square feet in the skyscraper in the Plaza District. The exact rent amount was not disclosed by the owner.
Lease and Location Details
The company is expected to move into the new premises on the 28th and 29th floors of the building in spring 2025. Corpay Cross-Border Solutions' current headquarters are located in Boston Properties' 601 Lexington Avenue building. The new location at 560 Lexington Avenue will offer the company the opportunity to strengthen its presence in a central business district.
Negotiations for Corpay Cross-Border were led by Peter Shimkin, David Glassman, Daniel Madison, and Michael Goldman of JLL. Stephen Rudin and Thomas Ponti represented owner Rudin internally. Built in 1980, 560 Lexington Avenue is a 225-metre-tall building that also houses other notable tenants, including law firm Bryan Cave Leighton Paisner LLP, which announced an extension and expansion of its lease by 60,000 square feet in May 2023.
The decision to make this move underscores the attractiveness of 560 Lexington Avenue as a location for financial service providers and international companies. The building not only offers a prestigious address but also modern office spaces in one of New York's most sought-after locations. This reflects the continuing demand for high-quality office space, even in a dynamic market environment.
Market Developments in the Plaza District
The Plaza District remains an important hub for companies that value first-class infrastructure and representation. Despite general market fluctuations, such transactions demonstrate stable demand for high-quality office properties in strategically important locations. Corpay Cross-Border's presence will further enrich the mix of financial service providers and professional service providers in this district.
