Moinian Group Signs Deals With Three AI Firms at 60 Madison Avenue

The Moinian Group has been dealing with an avalanche of new leasing in Midtown over the last two weeks.

The office landlord said it has signed 68,000 square feet of new leases with four new tenants — three technology firms and a communications company — at 60 Madison Avenue, with web developer Tenex Labs taking the largest slice at 25,000 square feet.

The Moinian Group did not disclose the asking rent for the building or the length of the Tenex lease, but office asking rents in Midtown South averaged $86.38 per square foot in May, according to an office market report from CBRE.

Tenex’s new office will span the entire 12th floor and penthouse level of the building, but it is unclear where the firm is relocating from.

“60 Madison Avenue, with its prime Midtown South location directly on Madison Square Park, continues to attract innovative and fast-growing companies seeking high-quality office space in one of Manhattan’s most dynamic business districts,” Joseph Moinian, founder and CEO at the Moinian Group, said in a statement. “These leases, all signed within the last two weeks, demonstrate the strong demand for thoughtfully designed, move-in-ready spaces and build upon the momentum we have established at the property throughout 2026.”

CBRE’s Gregg Rothkin, Hayden Pascal, Jared London, Taylor Walker and Keegan Schenk represented Moinian Group in all four deals, while Noel Flagg and E.N. Cutler of Newmark negotiated on behalf of Tenex.

In a separate deal, Pace, a firm that develops artificial intelligence agentic workforce for insurance companies with backing from Sequoia Capital and Thrive Capital, also signed a lease for 17,500 square feet across the entire seventh floor of 60 Madison Avenue, according to the landlord. The deal marks a relocation and expansion from 734 Broadway, where Pace occupies 3,500 square feet, according to Nicholas Markel of Cresa, who represented the tenant

“We’re customizing a prebuilt, they need space to accommodate their growing team, and they were looking for a building with opportunities to expand further into,” Markel told CO. “There’s demand for high-quality, centrally located space and optionality within buildings to continue to accommodate expanded teams in AI.”

GovWell Technologies, an AI firm that develops operating systems for governments, signed a 17,500-square-foot lease on the entire eighth floor of the Midtown building in an apparent relocation from 25 West 36th Street.

Christopher Foerch, Zev Holzman and Riley Scanlon of Savills negotiated on behalf of GovWell but did not immediately respond to a request for comment.

The smallest of the four leases was for communications, production and brand strategy firm Full Picture, which signed a lease for 8,000 square feet on part of the 11th floor in a possible relocation from its current New York City headquarters at 79 Madison Avenue.

Michael Herz and Waite Buckley of Cresa represented Full Picture and did not immediately respond to a request for comment.

Mark Hallum can be reached at mhallum@commercialobserver.com.