Sigma Computing Inks 64K SF Lease At SL Green’s One Madison

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Another tech company is setting up shop at SL Green’s office development overlooking Madison Square Park.

Sigma Computing signed a lease for 64,000 square feet at One Madison Avenue, the landlord announced. The cloud-based data analytics and software platform will occupy a portion of the third floor at the 1.4-million-square-foot Class A office tower, bringing the occupancy to 78 percent. The asking rent for the lease was $115 per square foot.

Newmark’s Brent Ozarowski represented Sigma in the deal. A JLL team including Paul Glickman, Alex Chudnoff and Ben Bass represented the landlord.

Sigma is relocating from an office it began leasing three years ago. The firm signed a five-year, 15,000-square-foot lease at Zero Irving in 2022 for its first New York City office, Commercial Observer reported at the time. That was the San Francisco-based company’s first foray in the Big Apple.

Sigma is just the latest tech tenant to plant its flag at the building. IBM and Coinbase occupy space in the 27-story building, which spans a full block between Park and Madison Avenues, as well as East 23rd and East 24th Streets. Other tenants include Franklin Templeton, which signed a 15-year lease for 347,000 square feet in 2022.

The analytics and software firm is one of many big tech companies signing sizable leases in the borough. OpenAI inked a 90,000-square-foot office lease at Kushner’s Puck Building in Soho last year. And the fintech firm Chime secured an 84,000-square-foot space last month at Bromley Companies’ 122 Fifth Avenue in Flatiron last May.

SL Green acquired the property in 2005 for $918 million before launching a $2.3 billion redevelopment. Work was completed in 2023. Amenities include an event space and rooftop garden, tenant lounge and Chelsea Piers fitness club. Celebrity chef Daniel Boulud operates multiple spaces within the property.