Zip, a digital financial services provider, will be relocating its corporate headquarters. As reported by Commercial Observer, Zip will move from its current address at 245 West 17th Street in New York City's Chelsea district to Rudin's 41 Madison Avenue in the NoMad neighbourhood in April 2027. There, the company will occupy 13,394 square feet (approx. 1,244 square metres) across the entire 18th floor, according to the landlord.
Rudin declined to specify the asking rent for the 11-year lease. According to Colliers, the average asking rent for office space in Midtown in Q2 2026 was $79.41 per square foot, while Class A office space averaged $97.22 per square foot during that period.
Modern Office Space Requirements
Robert Steinman, Senior Vice President for Office Leasing at Rudin, commented on the transaction. He noted that modern tenants are seeking highly amenitised and thoughtfully designed spaces, making Rudin's well-located and modernised 41 Madison a prime destination for leading companies. Steinman added that Rudin has a track record of creating environments where businesses thrive, and Zip fits seamlessly into this ecosystem.
Steinman represented the landlord internally alongside Craig Panzirer, Senior Vice President and Head of Office Leasing at Rudin. Joseph Gervino and Ryan Grecco of Avison Young represented Zip in this lease. Gervino and Grecco declined Commercial Observer's requests for comment.
Property and Occupancy Rate
Opened in 1974, 41 Madison Avenue is a 42-storey office building spanning 550,000 square feet (approx. 51,096 square metres), located northeast of Madison Square Park. The building recently underwent extensive renovations. These measures included an expanded and fully redesigned lobby, as well as a 7,000 square foot (approx. 650 square metres) conference facility.
- —With Zip's new lease, the property achieves a 93 percent occupancy rate, according to Rudin.
- —Other tenants at 41 Madison Avenue include investment services firm Polar Asset Management Partners, investment bank BrightTower, and talent services firm The Gersh Agency.
