Sapien AI, a company specialising in bipedal artificial intelligence, is expanding its presence with a new office in Midtown South. As the Commercial Observer learned, Sapien AI, the financial and operational analytics company, signed a lease for approximately 10,500 square feet for the entire fifth floor of 48 West 25th Street, a building recently acquired by the Kaufman Organization. This was confirmed by the broker Nomad Group, which represented the tenant.
This move represents a relocation for the AI firm, which was previously located a few blocks south at 184 Fifth Avenue. Both locations are in close proximity to Madison Square Park. Nomad did not immediately provide details on the exact lease term but mentioned that the asking rent was in the region of US$80 per square foot.
Matthew DeRose of Nomad, who represented the tenant alongside Calvin Bruwelheide, commented on the transaction in a statement. He emphasised that New York's AI sector continues to expand and that Sapien is precisely the forward-thinking company they enjoy working with. The new space offers Sapien a full-floor headquarters in the heart of NoMad, reflecting the energy, creativity, and dynamism of its growing team.
Grant Greenspan of the Kaufman Organization represented the landlord in this transaction. The Kaufman Organization had finalised the purchase agreement for the property, as well as for 24-28 West 25th Street, both located between Broadway and Avenue of the Americas, from Savanna for US$125 million in June.
A prominent tenant who had already signed a contract in the building before the sale was MediaCo Holding. The parent company of radio stations HOT 97 and WBLS leased 25,000 square feet for 16 years in 2023. The current transaction with Sapien AI underscores the attractiveness of the location and the continued demand for modern office spaces in Midtown South.
