Henry Luce Foundation Relocates Near Madison Square Park
By Rebecca Baird-Remba November 3, 2021 5:53 pm
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Nonprofit The Henry Luce Foundation has signed a full floor lease at Rudin Management Company’s 41 Madison Avenue between East 25th and East 26th streets in Midtown South, the landlord announced Tuesday.
The foundation — which awards grants and fellowships for those studying public policy, art and religion — signed a 15-year, 13,801 square-foot lease for the entire 27th floor of the 42-story building on Madison Square Park. A Rudin spokesperson declined to comment on asking rents.
The Luce Foundation plans to relocate one block south from 51 Madison Avenue to 41 Madison in May 2022.
“The Henry Luce Foundation is an organization that is well-known for promoting education and the arts in communities locally, nationally, and around the world,” said Michael Rudin, an executive vice president at Rudin Management Company. “We are excited and proud that they have chosen 41 Madison as their new home base.”
John Nugent and Liz Lash of CBRE represented the Luce Foundation in negotiations, while Robert Steinman represented building ownership in-house. A CBRE spokesperson didn’t immediately respond to a request for comment.
In 2019, Rudin renovated the nearly 47-year-old Emery Roth & Sons-designed skyscraper, putting in a new lobby with marble floors, glass wall panels, a new reception desk, a new glass entrance and updated elevator cabs.
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
