41 Madison Avenue
This is a high-quality lease transaction involving two institutional-grade parties in one of Manhattan's most resilient office submarkets. The Flatiron District has maintained strong demand from financial services and alternative investment tenants, and Polar Asset Management's decision to expand from 9,848 SF to 13,357 SF on an 11-year term reflects genuine occupancy conviction rather than opportunistic short-term space-taking. Rudin Management's deep ownership history at 41 Madison and their dominant presence in the building provide landlord stability and a frictionless leasing process. The estimated effective annual rent of approximately $765,000 and total lease value near $7.66 million represent solid, credit-backed cash flow for the landlord with minimal rollover risk for over a decade. No distress indicators, litigation, or financial red flags are present, making this a clean, well-structured deal with strong counterparty quality on both sides.
Deal Stats
Parties
Seller / Landlord
Rudin Management Company is one of New York City's most prominent and respected family-owned real estate operators, with a portfolio exceeding 10 million square feet of commercial and residential space across Manhattan. With over $2 billion in documented transaction volume and a decades-long track record, Rudin is considered a blue-chip institutional-grade landlord.
Buyer / Tenant
Polar Asset Management Partners is a well-established Toronto-based alternative investment management firm with a strong institutional pedigree, managing multi-billion dollar hedge fund strategies across equities, credit, and event-driven investing. Their expansion within 41 Madison Avenue signals financial stability and a long-term commitment to their NYC operations.
Score Analysis
Why this score
Institutional-Grade Counterparties
Both Polar Asset Management (multi-billion AUM hedge fund) and Rudin Management (10M+ SF portfolio, $2B+ transaction volume) represent blue-chip credit quality with proven operational stability.
Expansion Signal & Long-Term Commitment
Tenant's 36% space expansion (9,848 SF to 13,357 SF) on an 11-year lease demonstrates genuine business growth conviction rather than speculative leasing.
Flatiron District Resilience
The Flatiron submarket has maintained strong institutional demand from financial services and alternative investment firms, supporting premium pricing at $145/SF.
Landlord Portfolio Concentration Risk
While Rudin's dominant presence ensures operational stability, over-reliance on a single landlord entity could limit diversification of future portfolio growth for the tenant.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Document Tenant Renewal History
Verifying Polar Asset Management's lease renewal or expansion track record at prior NYC locations would strengthen conviction on their long-term occupancy commitment.
Specify Building Class & Recent Capital Investment
Confirming 41 Madison's Class A status and any recent landlord capital improvements (HVAC, connectivity, amenities) would justify the $145/SF pricing relative to Flatiron comps.
Quantify Tenant Credit Rating or Parent Guarantee
Obtaining Polar's credit rating, parent company guarantee structure, or debt-to-equity metrics would add precision to counterparty risk assessment beyond AUM size.
Raw Deal Textclick to expand
Submit Growing Financial Partnerships For Over 30 Years. Get Started Deals New York Office Lease 41 Madison Avenue Daily limit: 10/10 Polar Asset Management Partners Leases Full 33rd Floor At 41 Madison Avenue For 11 Years LEASED BN SE 13,357 SF Leased 2 weeks ago the deal players comps contact related Summary NEW YORK Asset Type: Price Per Square Foot: $0 Total Square Footage: Transaction Type: The property involved in the transaction is an office space located at 41 Madison Avenue in the Flatiron District. The asset spans 13,357 square feet and is part of a lease agreement. The landlords for this property are Samantha Rudin Earls and Michael Rudin, representing Rudin Management Company. Summary of transaction details: Property Type: Office Transaction Amount: Not specified Address: 41 Madison Avenue Market: Flatiron District Landlord: Samantha Rudin Earls & Michael Rudin - Rudin Management Company Tenant: Polar Asset Management Partners Broker: Brad Needleman - Newmark Square Footage: 13,357 Lease Duration: 11 years Polar Asset Management Partners is expanding their presence at Rudin’s 41 Madison Avenue by signing an 11-year lease to occupy the full 33rd floor. This move allows them to increase their space from 9,848 square feet as they relocate within the building later this year. Players All Brokers Landlords | Tenants Brad Needleman 2 deals BROKER Michael Rudin 19 deals $2B volume (212) 407-2511 Samantha Rudin Earls 10 deals $949.9M volume LANDLORD PP Polar Asset Management Partners TENANT Details Deal Summary IMAGE: Samantha Rudin Earls, Michael Rudin & Brad Needleman DATE: 05/04/2026 ADDRESS: 41 Madison Avenue MARKET: Flatiron District ASSET TYPE: Office ~ SF: 13,357 LANDLORD: Samantha Rudin Earls & Michael Rudin - Rudin Management Company (@RudinManagement) TENANT: Polar Asset Management Partners BROKER: Brad Needleman - Newmark (@Newmark) NOTE: Polar Asset Management Partners expanded at Rudin’s 41 Madison Avenue, signing an 11-year deal to take the full 33rd floor (13,357 square feet), increasing its footprint from 9,848 square feet as it relocates within the building later this year. Email New York | @tradedny Comps 10 These are similar deals based on proximity and similarity to the subject deal. BrightTower Leases 13,857 Square Feet Office Space At 41 Madison Avenue Flatiron District New York | Office 03/09/2026 Kensington Vanguard National Land Services Leases 13,394 SF Office Space At 41 Madison Avenue 11/02/2023 Clarick Gueron Reisbaum Leases 41 Madison Avenue Office From Rudin For 11 Years AJ 06/24/2024 Collected Strategies Leases 10000 Square Feet At 60 Madison Avenue From The Moinian Group + 8 08/08/2025 Suvretta Capital Management Leases Office Space At 11 East 26th Street In Manhattan New York | Office | PPSF: $145 HE 05/27/2025 Activate Leases 12083 Square Feet At 11 E 26th St New York From 11 Madison Square North Associates 04/23/2019 Reorg Research Leases Office Space At 11 E 26th St, New York 05/03/2016 Reckoner Capital Management Leases 12,124 Square Feet Office At 11 East 26th Street In Manhattan + 1 03/12/2025 Blink Fitness Leases 13121 Square Feet At 386 Park Ave S From Viacom With CBRE's Evan Fiddle 05/13/2016 Michael Pinney Of Signature Partners Represents Tenant In Office Lease At 381 Park Ave S, New York 05/14/2019 Contact Get in touch with the broker you want Select Brokers Brad Needleman, Michael Rudin, Samantha Rudin Earls Name Phone (optional) Message I'm an agent Similar Tenants These are similar tenants of Office properties in this pric VC Vanguard Construction & Development Co. $46M Volume 6 Closed Deals Industrious 151K SqFt 3 Closed Deals BrightTower 1 Closed Deals Upgrade to unlock KS Kensington Vanguard National Land Services $154M Volume BF Blink Fitness 46K SqFt Unlock All Profiles Unlimited deal views Access investor profiles & contacts Exclusive comps & market data These are similar brokers based on this deal Carri Lyon $89M Volume 22 Closed Deals Christel Engel 5 Closed Deals (917) 696-3532 Daniel Lolai $212M Volume 91 Closed Deals Dennis Someck 26 Closed Deals (917) 653-1177 Eliot Goldschmidt $17M Volume 10 Closed Deals Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map. NEW! Search Retail Mixed Use Development Site Hospitality Vornado Expands Penn District Push With New Sidewalk Cafes Near Penn Station Durst Organization Reveals Renovation Plans for Midtown Office Tower Residential Multifamily Sunlight Development Unveils Condo Conversion for Historic NoMad Office Tower FOR SALE $3,500,000 Prime Mixed-Use Building at 430 Grand Street Brooklyn $1,490,000 Nice Mixed-Use Building on Central Avenue in Brooklyn $3,600,000 Prime Development Site in Williamsburg at 511 Grand Street Thomas Modine Suggestions Analyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results. Deal Type SALE LOAN LEASE Property Size (sq ft) Rent per Square Foot (Annual) Lease Term (Years) Annual Escalation (%) Lease Type NNN (Triple Net) Free Rent Period (Months) Reset Effective Rent (Annual) $765,615.18 Total Lease Value $7,656,151.80 Net Landlord Cash Flow Is there something missing? Send suggestions We are telling CRE's story Traded is the #1 source for cutting edge CRE transactions & insights. States National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming News Agents Agencies About About Us FAQ Testimonials Help Help Center Return Policy © 2026 Traded Media LLC . All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use Sign in to view more deals Create a free account or sign in to continue viewing deals. Forgot password? Continue OR Google Outlook New to Traded? Sign up