Expanding Monday: Work Platform Takes More Space in Gramercy Park
By Larry Getlen December 5, 2025 3:46 pm
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Work management platform Monday.com has expanded on its 111,000 square feet at 225 Park Avenue South by adding another 27,611 square feet for a total of 138,611 square feet, according to a December office report from CBRE.
Kirill Azovtsev with Savills represented the tenant. Brian Waterman, Andrew Peretz and Brent Ozarowski from Newmark worked with Paul Amrich at CBRE to represent the landlord.
The lease renewal is for 10 years. Asking rents at the address are $115 per square foot, according to a source with knowledge of the building.
Monday.com opened its office at 225 Park Avenue South, the company’s North American headquarters, in September 2022, according to a company release, which noted that Mayor Eric Adams cut the ribbon on the space at the time. The company’s initial 110,000 square feet — in a sublease from BuzzFeed, according to CO reporting — occupied four floors in the building, and was three times larger than the company’s previous New York office at 34 West 14th Street.
It is unclear if or when Monday.com’s current space transferred from the Buzzfeed sublease to a direct lease with building ownership.
As of 2023, over half of Monday.com’s office space was devoted to “communal areas and amenity spaces,” including an arcade, a basketball court, and a record listening room, all designed to help younger employees feel “at home,” according to CO reporting.
In April 2024, CO reported that a $235 million loan secured by 225 Park Avenue South and 233 Park Avenue South — two buildings that are considered a single 675,000-square-foot property — was transferred to special servicing due to the threat of imminent default. This came less than one month after Meta terminated a lease for 225,000 square feet in the building. Another tenant, STV, left 133,000 square feet there, according to CO.
In May 2025, CO reported that Orda Management, the building’s 70-year owner, was nearing a significant recapitalization of the 700,000-square-foot property that would include a restructuring of the building’s debt and the introduction of two new equity partners: TPG and Sagehall. (The building’s website currently cites Orda as the sole owner.)
Representatives from Orda Management could not be reached for comment. Sagehall and CBRE did not immediately respond to requests for comment. Savills, Newmark, and TPG declined to comment.
Larry Getlen can be reached at lgetlen@commercialobserver.com.
