JLL has successfully facilitated a lease for an AI video company, Captions, at 71 Fifth Ave. in Downtown. The entire sixth floor of the 11-story office building, owned by Madison Capital and Lubert Adler Partners, will be occupied by Captions with a total area of 15,202 square feet.
Captions is renowned for its AI-powered products that support video creation and editing. With over three million creators utilizing its platform since its establishment in 2021. The building was originally constructed in 1907 but has been fully modernized by Madison Capital after acquiring it in 2017. It now boasts new entrances, lobbies, elevators and façade enhancements with the fifth and sixth floors being newly built and ready to move-in.
The team at JLL consisting of Mitchell Konsker,Ben Bass,Dan Turkewitz,and Kyle Young exclusively represents the property at71 Fifth Ave.and worked on securing this transaction with Jonathan Ratner,Cindy Chang from Madison Capital as well as Kyle Riker from JLL who represented the tenant.
An expertly crafted deal between an AI video company called Captionsandthe ownersofMadisonCapitalandLubertAdlerPartnershasbeen brokeredbyJLLfora full-floor leaseatDowntown’sprime location -71FifthAve.Captainswilloccupytheentire6thfloorwitha spaciousareaof15202squarefeet.Thecompanyiswell-knownforitsAI-poweredproductswhichsupportvideocreationandediting.Itsplatformhasbeenus edbyover3millioncreatorssinceitsinceptionin2021.MadisonCapitalacquiredthisbuildingoriginallybuiltin1907backin2017andhassincefullymodernizeditwithnewentrances,
lobbies,elevators,andfaçadeenhancements.Thesefeaturesarehighlightedinthenewlyconstructed5thand6thfloorswhichareavailableforimmediateoccupancy.
TheJLLteam,comprisingofMitchellKonsker,BenBass,DanTurkewitz,andKyleYoung,hasexclusivelyrepresented71FifthAve.andworkedcloselywithJonathanRatnerandCindyChangfromMadisonCapitalaswellasKyleRikerfromJLLwhohelpedfacilitatethistransactiononbehalfofthetenants.
