Sigma Computing Signs Major Office Lease at One Madison Avenue
Sigma Computing Signs Major Office Lease at One Madison Avenue
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July 17, 2025 | New York City
SL Green’s One Madison Avenue has landed another tech tenant, with Sigma Computing signing a lease for 64,000 square feet in the Midtown South tower. The San Francisco-based data analytics firm will occupy part of the third floor, bringing the building's occupancy rate to 78%. Asking rents at the property were $115 per square foot.
This marks a significant expansion for Sigma, which first entered the New York market in 2022 with a much smaller 15,000-square-foot lease at Zero Irving. The lease at One Madison underscores the firm’s growth and increasing commitment to its East Coast operations. Sigma was represented by Brent Ozarowski of Newmark, while JLL's Paul Glickman, Alex Chudnoff, and Ben Bass represented the landlord.
One Madison Avenue has attracted a range of prominent tenants including IBM, Coinbase, and Franklin Templeton. SL Green acquired the property for $918 million and invested $2.3 billion in its redevelopment, completed in 2023. Amenities include a rooftop garden, tenant lounge, Chelsea Piers fitness center, and food venues by renowned chef Daniel Boulud.
This latest lease adds to a growing trend of tech companies recommitting to Manhattan office space. Notable recent leases include OpenAI’s 90,000-square-foot deal at the Puck Building and fintech firm Chime’s 84,000-square-foot lease at 122 Fifth Avenue. SL Green’s strategy to modernize and amenitize its portfolio appears to be paying off in a competitive office market.
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