NEW YORK — IBM has signed a 92,663-square-foot expansion lease at One Madison Avenue in NYC, increasing IBM’s total footprint at the property to 362,092 square feet. The 15-year lease covers the entire 7th floor and brings the building to 72% leased, owned by SL Green. This lease follows the strong 2024 portfolio-wide leasing momentum during which the Company signed 188 leases covering 3,607,924 square feet. In addition, the Company has a current, active pipeline of prospective leases of more than 875,000 square feet.
“We are delighted to expand our valued partnership with IBM and support their continued growth and expansion in New York City,” said Steven Durels, Executive Vice President and Director of Leasing and Real Property at SL Green. “IBM’s commitment to One Madison Avenue is a testament to the desirability for best-in-class work environments by forward looking tenants.”
“The expansion of IBM’s flagship office at One Madison Avenue reaffirms a long-standing commitment to advance the technology sector in New York City and New York State, with a vibrant and collaborative workspace designed to bring employees, clients and partners together from around the world,” said Joanne Wright, IBM Senior Vice President for Transformation and Operations.
IBM has over 2,000 employees working at One Madison Avenue.
Designed by architect Kohn Pedersen Fox, One Madison Avenue is the most ambitious adaptive reuse project in New York City, uniquely located overlooking Madison Square Park. One Madison Avenue offers industry-leading amenities and a wellness-focused work environment, designed to enhance productivity and well-being. The building’s innovative features include a state-of-the-art HVAC system that circulates 100% fresh air, massive floor-to-ceiling windows offering abundant natural daylight together with amenities such as Le Jardin Sur Madison, a spectacular one-of-a-kind event space and rooftop garden, and La Tête d’Or by Daniel, Chef Daniel Boulud’s latest upscale culinary offering, The Commons, a 7,000 square foot tenant-only lounge, Chelsea Piers Fitness and a curated retail program which features unique food and beverage offerings such as Sweetgreen, Alidoro, Joji Box, Los Tacos No. 1 and Delicious Hospitality.
IBM was represented by Patrick Murphy and Winston Schromm of Jones Lang LaSalle. SL Green was represented by Paul Glickman, Alex Chudnoff, Ben Bass and Diana Biasotti of Jones Lang LaSalle.