BREAKING NEWS: Tempus AI has officially signed a lease for 39,565 square feet at SL Green’s iconic 11 Madison Ave, marking a significant shift in the fast-evolving leasing landscape of Midtown South. This urgent update comes just after last week’s buzz surrounding chef Daniel Humm’s announcement to alter the menu at the renowned Eleven Madison Park, now allowing meat and fish options.
The move from Tempus AI, previously located at the Helmsley Building on 230 Park Ave, underscores the escalating demand for office space in this prime area. According to SL Green’s leasing director, Steven Durels, this latest lease “underscores the increased leasing velocity in Midtown South,” highlighting a robust market trend.
At 11 Madison Ave, which boasts a total space of 2.37 million square feet, occupancy remains high at approximately 93%. Other prominent tenants include major players like Pinterest, UBS, and SONY Music, signaling a strong corporate interest in the location. While financial details surrounding Tempus AI’s lease remain undisclosed, it’s noteworthy that Pinterest recently secured an 83,000 square-foot lease on the 13th floor with an asking rent of $90 per square foot.
This strategic relocation not only emphasizes Tempus AI’s growth trajectory but also reflects broader trends in the commercial real estate market, where tech and biotech firms are increasingly seeking out top-tier office spaces in vibrant urban environments.
As the leasing landscape continues to evolve, all eyes will be on 11 Madison Ave to see how this new tenant will fit into the dynamic ecosystem of Midtown South. Watch for more updates on how this move impacts the local business climate and the ongoing developments in commercial real estate.
Stay tuned for further information as we track the shifting dynamics of New York’s office market and the implications for businesses and employees alike.
