The Rudin Family has completed a 15-year, 13,801 square-foot office lease with The Henry Luce Foundation at 41 Madison Ave. The nonprofit organization, which focuses on arts and education, will encompass the entire 27th floor of the 42-story, 500,000 square-foot building. The foundation plans to relocate from 51 Madison Ave. to 41 Madison Ave. in May 2022.
“The Henry Luce Foundation is an organization that is well-known for promoting education and the arts in communities locally, nationally and around the world,” said Michael Rudin, executive vice president at Rudin Management Company, the operating arm of Rudin Family holdings. “We are excited and proud that they have chosen 41 Madison as their new home base as they continue to advance their mission of increasing educational opportunities and international understanding.”
The Henry Luce Foundation was represented in negotiations by John Nugent and Liz Lash of CBRE, while Robert Steinman, senior vice president at Rudin Management Company, represented building ownership in-house.
With the new transaction, Rudin has successfully completed approximately 30,000 square feet of new office leases at 41 Madison Ave. within a span of two months. Other recent signings include alternative investment manager Limekiln Real Estate (6,306 square feet), hedge fund Polar Asset Management Partners (5,087 square feet) and digital home building firm Welcome Homes (4,761 square feet).
