URGENT UPDATE: Tempus AI has just signed a major lease for 39,565 square feet at SL Green’s prestigious 11 Madison Ave, marking a significant move from its previous location at the Helmsley Building on 230 Park Ave. This development highlights the accelerating leasing activity in Midtown South, according to SL Green leasing director Steven Durels.
As of now, 11 Madison Ave is 93% leased, hosting a range of notable tenants, including Pinterest, UBS, and SONY Music. While specific financial terms of the Tempus AI lease remain undisclosed, it follows the recent trend of high-value leases in the area, where Pinterest’s latest 83,000 square-foot lease on the 13th floor was valued at $90 per square foot.
This move comes on the heels of significant culinary news, with chef Daniel Humm of Eleven Madison Park recently announcing a shift away from the restaurant’s exclusive vegan menu. Such developments signify a vibrant shift in the leasing landscape of this iconic building, which continues to attract leading businesses and innovative companies.
Tempus AI’s decision to relocate emphasizes its growth trajectory and commitment to enhancing its operational capabilities. The move not only underscores the demand for office space in Midtown South but also reflects a growing trend among tech firms to secure prime locations in bustling urban centers.
As the situation unfolds, industry experts will be watching closely to see how Tempus AI’s presence at 11 Madison Ave impacts the local business ecosystem and contributes to the ongoing revitalization of Midtown South.
Stay tuned for more updates on this developing story as we continue to report on the latest changes in the commercial real estate market.
