Appliances Company SharkNinja Takes 14K SF at Rudin’s 41 Madison Avenue
By Isabelle Durso January 30, 2025 1:29 pm
reprints
Product design and technology company SharkNinja will open its first New York City office in the Flatiron District.
SharkNinja, which produces household appliances running the gamut from vacuum cleaners to coffee makers, has signed a 10-year lease for 14,296 square feet to house its new Creative Design Hub at Rudin’s 41 Madison Avenue, according to the landlord.
“The strong leasing momentum at 41 Madison is further evidence that best-in-class spaces and ownership are the keys to success in the modern workplace,” Michael Rudin, co-CEO of Rudin, said in a statement. “We’re thrilled to welcome SharkNinja, an internationally recognized innovator and household name, to the neighborhood — a testament to our enduring focus on portfolio excellence and strategic investment.”
Rudin declined to provide the asking rent, but a report from Newmark found office rents in the Flatiron District and near Union Square averaged $78.51 per square foot during the fourth quarter of 2024.
Hopkinson Real Estate’s Steven Jacobson brokered the deal for the tenant, while Rudin was represented in-house by Robert Steinman. Jacobson did not immediately respond to a request for comment.
The deal was completed in tandem with Empire State Development (ESD), the state economic development agency that provided $920,000 in “performance-based Excelsior Jobs Program tax credits in exchange for [SharkNinja’s] commitment to create over 45 new jobs,” according to a release from ESD.
“SharkNinja’s decision to establish a creative hub in New York City highlights the unique advantages our state offers to innovative companies,” ESD CEO Hope Knight said in a statement. “Through ESD’s Excelsior Jobs Program, we are supporting the creation of jobs while strengthening New York’s position as a premier destination for design and technology companies.”
The deal also represents an introduction to New York City for SharkNinja, which is headquartered in Needham, Mass., and will move into the 42-story office tower by the end of the second quarter of this year, Rudin said.
“The launch of our Creative Design Hub in New York City is not just a milestone in our global growth — it’s a testament to the extraordinary talent we continue to attract and grow,” SharkNinja CEO Mark Barrocas said in a statement. “By tapping into the city’s vibrant creative community, we’re giving our teams the space to continue pushing boundaries as we develop innovative products at an unmatched pace and deepen our connection with consumers in new, meaningful ways.”
SharkNinja will join several other tenants at Rudin’s 560,000-square-foot office tower including construction management firm Urban Atelier Group, law firm Clarick Gueron Reisbaum and investment firm Polar Asset Management Partners.
Isabelle Durso can be reached at idurso@commercialobserver.com.
