{"id":1004765252,"date":"2025-07-17T04:08:07","date_gmt":"2025-07-17T12:08:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004765252"},"modified":"2025-07-21T04:03:41","modified_gmt":"2025-07-21T12:03:41","slug":"sl-green-signs-64-ksf-manhattan-tenant","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/sl-green-signs-64-ksf-manhattan-tenant\/","title":{"rendered":"SL Green Signs 64 KSF Manhattan Tenant"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a57d7bad24d4&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-large is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"409\" height=\"512\" data-attachment-id=\"1004765253\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/sl-green-signs-64-ksf-manhattan-tenant\/one-madison-ave-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/One-Madison-Ave.jpg\" data-orig-size=\"409,512\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"One Madison Ave\" data-image-description=\"&lt;p&gt;Exterior shot of One Madison Avenue, an office building in Manhattan.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 26-story One Madison Avenue went through a $2.3 billion redevelopment in 2023. Image courtesy of Yardi Research Data&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/One-Madison-Ave.jpg?w=409\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/One-Madison-Ave.jpg?w=409\" alt=\"Exterior shot of One Madison Avenue, an office building in Manhattan.\" class=\"wp-image-1004765253\" style=\"width:auto;height:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/One-Madison-Ave.jpg 409w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/07\/One-Madison-Ave.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 409px) 100vw, 409px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The 26-story One Madison Avenue underwent a $2.3 billion redevelopment completed in 2023. <em>Image courtesy of Yardi Research Data<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Sigma Computing Inc. has signed a 64,077-square-foot lease at One Madison Avenue, a 1.4 million-square-foot office building in Manhattan. Newmark negotiated on behalf of the tenant, while JLL represented the landlord, SL Green Realty Corp.<\/p>\n\n\n\n<p>The software company will occupy a portion of the tower\u2019s third floor. Following this agreement, the building will be 78.1 percent leased. Earlier this year, <a href=\"https:\/\/www.commercialsearch.com\/news\/ibm-expands-manhattan-office\/\">IBM signed<\/a> a 92,663-square-foot lease expansion at the property, bringing its footprint to nearly 363,000 square feet.<\/p>\n\n\n\n<p>SL Green acquired the asset in April 2005 from MetLife Real Estate Investment for $801.7 million, according to Yardi Research Data. In December, the company and its joint venture partners obtained a <a href=\"https:\/\/www.commercialsearch.com\/news\/sl-green-secures-1-3b-mortgage-extension-for-nyc-tower\/\">$1.25 billion mortgage modification<\/a> and extension for the 26-story building.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-redeveloped-manhattan-office-building\">A redeveloped Manhattan office building<\/h2>\n\n\n\n<p>Initially constructed more than 100 years ago to designs by Napoleon Le Brun &amp; Sons, One Madison Avenue was once one of New York City\u2019s largest office buildings, spanning a full block. The tower underwent a $2.3 billion redevelopment designed by Kohn Pedersen Fox and completed in 2023. The LEED Gold-certified high-rise has floorplates averaging 100,000 square feet, as well as 40,000 square feet of retail space.<\/p>\n\n\n\n<p>Amenities include Le Jardin Sur Madison, an event space and rooftop garden, The Commons, a 7,000-square-foot tenant-only lounge, and a fitness center. The building also has multiple terraces, private nooks and collaborative spaces.<\/p>\n\n\n\n<p>One Madison Avenue rises in Midtown South, adjacent to the Madison Square Park and close to Flatiron Building. Empire State Building is within walking distance.<\/p>\n\n\n\n<p>Newmark Executive Managing Director Brent Ozarowski, Vice Chair Jeff Rodgers and Managing Director Stephen Cisarik represented the tenant. JLL Vice Chairs Paul Glickman, Alex Chudnoff and Ben Bass, along with Senior Vice President Diana Biasotti, worked on behalf of the landlord.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-manhattan-s-office-vacancy-rate-remains-steady\">Manhattan\u2019s office vacancy rate remains steady<\/h2>\n\n\n\n<p>Manhattan\u2019s office vacancy rate at the end of May clocked in at 15.7 percent, well below the 19.4 percent national average and 50 basis points lower over the year, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-june-office-report\/\">Yardi Matrix office report<\/a>. However, the metro\u2019s listing rate during the same month was $68.08, marking a 4.5 percent decrease compared to a year ago.<\/p>\n\n\n\n<p>In one of the market&#8217;s largest deals closed to date as of May, <a href=\"https:\/\/www.commercialsearch.com\/news\/deloitte-takes-800k-sf-at-hudson-yards\/\">Deloitte signed<\/a> an 800,000-square-foot agreement to move its North American headquarters to 70 Hudson Yards. The 1.1 million-square-foot development, currently underway, is set to come online in late 2028.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Spanning a full block, the historic tower recently underwent a $2.3 billion redevelopment.<\/p>\n","protected":false},"author":3355,"featured_media":1004765255,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1600,21742,10,21747],"tags":[32796,33717,32779,50999,34964],"class_list":["post-1004765252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-office","tag-jll","tag-kohn-pedersen-fox","tag-leed","tag-newmark","tag-sl-green-realty-corp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SL Green Signs 64 KSF Manhattan Tenant - 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