IT Firm Mphasis Expands by 14K SF at Rudin’s 41 Madison Avenue – Commercial Observer
Blackstone-backed information technology firm Mphasis has more than doubled its office footprint at 41 Madison Avenue to 27,709 square feet, and tacked on another decade to its tenure.
The deal adds 14,151 square feet to Mphasis’ footprint at Rudin’s office tower northeast of Madison Square Park, according to the landlord. Mphasis, headquartered in Bengaluru, India, will expand its New York City office onto the building’s entire 36th floor, while continuing to occupy the 35th floor below.
A 10-year extension accompanied the lease deal, first reported by CoStar. The asking rent was not disclosed, but Class A office rents in Midtown South averaged $98.01 per square foot in the third quarter of 2026, according to Colliers.
Rudin’s Robert Steinman and Craig Panzirer represented the landlord in-house, while CBRE’s William Iacovelli and Patrick Moroney negotiated on behalf of Mphasis.
“Mphasis’ preference was to remain at 41 Madison Avenue,” Iacovelli told Commercial Observer. “And when the opportunity arose to lease the 36th floor alongside its existing 35th-floor space, it was the ideal solution to support the company’s continued growth.”
Mphasis arrived at the 42-story Flatiron District tower in April 2021, CO previously reported. The company relocated from 460 Park Avenue South through a 13,558-square-foot sublease with Mission Capital Advisors. Asking rent at the time was in the mid-$70s per square foot.
The 560,000-square-foot building sits along Madison Avenue between East 25th and East 26th streets. Other recent moves there include new full-floor leases by digital financial services firm Zip and investment bank BrightTower, as well as a 13,357-square-foot expansion by investment services firm Polar Asset Management Partners.
The organization took a disciplined, long-term approach, and that patience ultimately enabled it to secure a more efficient, cohesive and unified workplace within the building.
A spokesperson for Mphasis did not immediately respond to a request for comment.
Emily Davis can be reached at edavis@commercialobserver.com.
