National Museum of Mathematics Moving to 34K SF at 635 Avenue of the Americas
By Isabelle Durso November 15, 2024 11:01 am
reprintsNew York’s National Museum of Mathematics is moving into permanent space at Spear Street Capital’s 635 Avenue of the Americas.
The museum known as MoMath, which has attracted more than 1.2 million visitors to its galleries since opening in 2012, signed a long-term lease for 34,363 square feet at the building on the corner of Sixth Avenue and West 20th Street, according to tenant broker Open Impact Real Estate.
MoMath’s new space, which is exactly 1.808579 times the size (we did the math) of its initial 19,000-square-foot spot at 11 East 26th Street, will open in 2026 with new classrooms, exhibits and event spaces, according to Open Impact. The space will be designed by Perkins Eastman’s Nicholas Leahy and Andres Pastoriza.
The new lease expires in 2036, and includes a six-year sublease from previous tenant Lowe’s — which moved out of the space in 2019 — and a direct lease with the landlord, Open Impact said. Atlantic Retail’s Joe Mastromonaco, Evan Clements and Colleen Morrissey brokered the sublease for Lowe’s.
“Nearly 15 years ago, we began our collaboration with MoMath to establish its initial location, aiming to transform the global perception of mathematics — an unproven hypothesis at the time,” Open Impact’s Stephen Powers said in a statement. “Today, it’s incredibly rewarding to have helped them secure a new home that will exponentially increase their impact and exposure.”
Open Impact declined to provide the asking rent, but a report from CBRE found retail rents in Manhattan averaged $716 per square foot during the third quarter of 2024.
Open Impact’s Powers, Lindsay Ornstein and Jake Cinti brokered the deal for the tenant, while Spear Street was represented in-house. A spokesperson for Spear Street did not immediately respond to a request for comment.
Meanwhile, MoMath will continue to operate its temporary pop-up space at 225 Fifth Avenue until the launch of its new location in 2026, according to Open Impact.
“In the dozen years since it first opened its pi-handled doors to the public, MoMath has become an unparalleled place for math engagement,” MoMath CEO Cindy Lawrence said in a statement. “Now, in our new, larger home, we will have even more room for innovative exhibits, educational programs and immersive experiences that will inspire curiosity, creativity and a love of math in visitors of all ages for years to come.”
Isabelle Durso can be reached at idurso@commercialobserver.com.