Health Tech Firm Takes 39,600 SF at SL Green’s 11 Madison Avenue

Health technology company Tempus AI has signed a 10-year office lease for 39,565 square feet at SL Green’s 11 Madison Avenue.

The company will occupy a portion of the Midtown South building’s 17th floor.

Brian Waterman, Scott Klau, Erik Harris, and Brent Ozarowski of Newmark represented SL Green, according to a release. Peter Michailidis of JLL represented Tempus AI.

The asking rent was $90 per square foot.

“We’re excited to welcome Tempus AI to 11 Madison Avenue,” Steven Durels, executive vice president, director of leasing and real property at SL Green, said in a statement. “This lease underscores the increased leasing velocity within the Midtown South submarket.” 

Eleven Madison Avenue is a 2.3 million-square-foot, full-block building rising 30 stories between Madison Avenue and Park Avenue South and 24th and 25th streets, and offering unusually large floor plates of up to 100,000 square feet. Other tenants in the building include Credit Suisse, UBS, Sony Music, WME IMG, Pinterest and Suntory, as well as the restaurant Eleven Madison Park. 

Eleven Madison Avenue was built between  1928 and 1950, and was initially scheduled to rise 100 stories before the Great Depression scuttled those plans. The building’s interiors were renovated between 1994 and 1997, and the building was placed on the National Register of Historic Places in 1996.

The move signals a space upgrade for Tempus AI, which relocates from 22,700 square feet at 230 Park Avenue, as reported in Commercial Observer. 

Larry Getlen can be reached at lgetlen@commercialobserver.com.