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General Atlantic signs long-term lease for 150,000 sf at 625 Madison
The 53-story tower is set to open in 2029, and Related said average asking rent for Class A office space in Manhattan’s Plaza District was $97.23 per square foot in Q2 2026.
Related Companies said General Atlantic has signed a long-term lease for more than 150,000 square feet across five floors at the under-construction 625 Madison Avenue office tower in Manhattan’s Plaza District.
The firm plans to use the space for its more than 330 New York-based employees, who represent about one-third of General Atlantic’s global workforce, with the 53-story building slated to open in 2029.
Commercial Observer reports Related and General Atlantic did not disclose the exact lease length or asking rent. General Atlantic’s leadership described the move as a long-term investment in its future, while Related said the tenant aligns with its design for a prestigious, ambitious office anchor.
The report adds that private equity firm Veritas Capital has also secured office space at 625 Madison, taking 92,743 square feet under a lease signed in August, and work on the project began in July, replacing a 1930-era 10-story building on the site.