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Deals & Dealmakers

 Rudin Secures Two Lease Commitments at 41 Madison, its Recently Renovated Flatiron District Office Tower

Rudin, a full-service real estate organization and one of New York City’s largest private owners, operators and developers of best-in-class real estate, announced today that it has completed two leases, totaling 18,650 square feet, at 41 Madison Avenue, its recently repositioned office tower located in the heart of Midtown South’s Flatiron District.

Online home building platform, Welcome Homes, is more than doubling its footprint at 41 Madison with a 10-year, 13,857-square-foot lease encompassing the entire 32nd floor. The company is relocating from its current 4,761-square-foot space on a portion of the building’s 33rd floor. Welcome Homes specializes in streamlining the new home construction journey by creating a more seamless and price-transparent process.

In addition, ParaFi Captial, a crypto-native investment and technology company, finalized a new, 4,794-square-foot lease for a prebuilt space on the 20th floor of 41 Madison, which will serve as the firm’s first New York City office. Founded in 2018, the firm focuses on token, venture and quantitative strategies.

Rudin recently completed a transformation of the building’s public areas including the lobby, lounge and event and conference space. The reimagined lobby now features marble flooring, pearlescent glass wall panels and a luminous ceiling lit by energy-efficient LEDs to complement the original book-matched Travertine wall panels that remain on the elevator cores. It also includes an elegant glass entrance, a new reception area and redesigned elevator cabs.

“With its newly renovated public spaces and amenities, prime location across the street from Madison Square Park and dramatic views, 41 Madison offers everything that growing companies like Welcome Homes and ParaFi seek to create, recruit talent and grow in New York City,” said Michael Rudin, Executive Vice President at Rudin.

Designed by Emery Roth & Sons and opened in 1974, 41 Madison is a 42-story, 560,000 square-foot modern glass and steel building. The building is WiredScore Platinum and utilizes Nantum OS, the world’s most advanced building operating system. Nantum OS is the flagship product of Prescriptive Data, a privately held smart building automation company focused on using artificial intelligence to improve efficiency, decrease carbon emissions and optimize tenant comfort.

All tenants at 41 Madison have access to MEET on Madison from MEET Hospitality, a meeting and event venue that redefines the office workspace and offers customized serviced events.

Other major tenants at the building include The Gersh Agency, Water Island Capital, The Henry Luce Foundation and Rosenthal Wedgwood. It is also home to Mark’s Off Madison, a restaurant and bakery from renowned celebrity chef Mark Strausman, the creator of Freds at Barneys New York.

ParaFi Capital was represented by Rob Wizenberg and Jordan Donohue of CBRE. Welcome Homes was represented by Darell Handler, Kyle Galin, and Scott Galin of Handler Real Estate Organization. Rudin was represented in-house by Senior Vice President, Robert Steinman on both transactions.

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