General Atlantic Signs 150,000-Square-Foot Anchor Lease at Related Companies' 625 Madison Avenue

NEW YORK — General Atlantic has signed a long-term lease for its new global headquarters at 625 Madison Avenue, a 53-story Class AA office tower under construction by Related Companies in Midtown Manhattan's Plaza District, the firms announced Sept. 1.

As the building's anchor tenant, General Atlantic will occupy five floors totaling more than 150,000 square feet within the tower, which is expected to open in 2029. The new headquarters is designed to accommodate General Atlantic's New York team of more than 330 professionals and provide workspace for entrepreneurs, investors, advisors, and members of the firm's global network.

Deal Details and Building Profile

625 Madison Avenue is situated between East 58th and East 59th Streets in the Plaza District and rises approximately 684 feet. The tower encompasses roughly 858,500 square feet of office space and represents the first ground-up premier office building to be constructed in the Plaza District in decades, according to Related Companies.

The project was designed by Foster + Partners and Gensler. Related Companies acquired the site from SL Green for approximately $630 million and subsequently moved forward with a ground-up development rather than a renovation. Demolition and foundation work began in 2026, with completion targeted for summer 2029.

Asking rents at the tower are marketed starting at around $250 per square foot at lower levels and up to approximately $400 per square foot on upper floors — a significant premium relative to broader Midtown Class A asking rents, which generally fall in the mid-$80s per square foot, and even to trophy assets along Park Avenue, the Plaza District, and Hudson Yards, where rents typically range from $130 to more than $200 per square foot.

Amenities and Sustainability Features

The building's design features column-free tower floorplates conceived to maximize Central Park views from its Madison Avenue location. A sixth-floor tenant amenity club will include a 200-plus-person multipurpose room for investor meetings and events, executive boardrooms, a private dining room, a coffee and cocktail bar, and wraparound outdoor terraces. Private landscaped terraces are incorporated at multiple levels throughout the building.

The base of the tower will include a flagship restaurant and luxury retail at the corners of East 58th and East 59th Streets. The building is designed to be all-electric and is targeting LEED Platinum certification, positioning it among the more sustainable large-scale office buildings in New York City.

Tenant and Landlord Perspectives

Bill Ford, Chairman and CEO of General Atlantic, said the firm's new headquarters reflects a long-term commitment. "General Atlantic has always taken a long-term view, and our new headquarters is an investment in the firm's future," Ford said. "It will be a place that brings our people and global community together, strengthens the connections that are central to who we are, and gives us room to grow for many decades to come. We're pleased to have Related as a partner in bringing this vision to life."

Jeff Blau, CEO of Related Companies, said General Atlantic aligned with the developer's vision for the building from the outset. "When we began designing 625 Madison, General Atlantic was exactly the kind of prestigious and ambitious firm we had in mind as an anchor tenant because of the value they place on investment and operational excellence, collaboration, and long-term relationships," Blau said. "This will be a building of industry leaders, and we are thrilled to have General Atlantic on board and look forward to delivering an exceptional new headquarters for their team."

About the Firms

General Atlantic was founded in 1980 and originally operated out of a townhouse on 55th Street in New York. The firm now manages approximately $130 billion in assets under management across all strategies as of June 30, 2026, and employs more than 900 professionals across 20 countries. Its investment platform spans Growth Equity, Infrastructure, and Strategic Solutions, and the firm has provided capital and strategic support to more than 905 companies throughout its history.

Related Companies is a privately owned real estate firm headquartered in New York City with offices and major developments in Boston, Chicago, Dallas, Miami, Los Angeles, San Francisco, Washington, D.C., and London. The company's portfolio includes approximately $100 billion in assets owned or under development, including the Hudson Yards neighborhood on Manhattan's West Side, Deutsche Bank Center at Columbus Circle, and The 78 in Chicago.

Market Context

The General Atlantic lease represents a significant anchor commitment in the Plaza District, one of Midtown Manhattan's most competitive office submarkets. Trophy office towers in prime Manhattan corridors have continued to attract institutional tenants seeking modern, amenity-rich environments, with demand concentrated at the top end of the market even as broader office vacancy rates remain elevated across the city. The 625 Madison Avenue lease adds to a series of high-profile headquarters relocations to newly constructed or repositioned Midtown towers in recent years.

General Atlantic's five-floor commitment at 625 Madison Avenue, with occupancy expected in 2029, marks one of the larger anchor leases signed in the Plaza District in the current development cycle.

Sources

Related Companies Press Release: General Atlantic to anchor new global headquarters at Related's 625 Madison Avenue