A synthetic intelligence agency is doubling its area at One Madison Avenue, marking a milestone for landlord SL Inexperienced.
Harvey AI, which assists authorized {and professional} providers, is including one other 90,000-plus sq. ft to its footprint on the Midtown South tower, the New York Submit reported. The corporate initially leased 93,000 square feet within the fall, bringing its complete footprint on the property to 185,000 sq. ft.
The lease marks 100% occupancy on the 1.4 million-square-foot Class A workplace tower, which opened lower than three years in the past. On the time of Harvey’s preliminary lease, occupancy had simply surged previous 91 p.c.
Asking rents at One Madison vary from $120 to $180 per sq. foot, although it’s unclear what the asking lease was for the newest deal. JLL’s Joseph Messina represented the tenant, whereas a JLL workforce together with Paul Glickman, Alex Chudnoff and Ben Bass represented the owner.
One Madison has been profitable with tech tenants. Sigma Computing in July signed a lease for 64,000 square feet. The cloud-based information analytics and software program platform will occupy a portion of the property’s third ground.
IBM and Coinbase additionally occupy area within the 27-story constructing, which spans a full block between Park and Madison Avenues, in addition to East twenty third and East twenty fourth Streets. Different tenants embrace Franklin Templeton, which signed a 15-year lease for 347,000 sq. ft in 2022.
SL Inexperienced acquired the property in 2005 for $918 million earlier than launching a $2.3 billion redevelopment. Work wrapped in 2023. Facilities embrace an occasion area and rooftop backyard, a tenant lounge and a Chelsea Piers health membership. Superstar chef Daniel Boulud additionally operates a number of areas throughout the property, together with steakhouse La Tête d’Or by Daniel.
Marc Holliday’s agency is on tempo for its largest leasing quarter in firm historical past, seeing greater than 900,000 sq. ft taken throughout its portfolio, greater than a 3rd of which is thru tenant expansions.
Learn extra
SL Green embraces AI tenant at One Madison
Sigma Computing inks 64k sf lease at SL Green’s One Madison
Daniel Boulud lands at SL Green’s One Madison Avenue
