Mphasis expands its Flatiron office at Rudin's 41 Madison Avenue

IT services firm Mphasis has expanded its office at Rudin Management’s 41 Madison Avenue, adding 14,151 square feet and a 10-year lease extension, according to Commercial Observer.

Why it matters

The deal brings Mphasis to 27,709 square feet at the Flatiron District tower, giving the Bengaluru headquartered company the entire 36th floor to go with the 35th floor space it already held. It is the latest in a run of 2026 renewals and expansions Rudin has landed across its Manhattan portfolio, from Loeb & Loeb’s extension at 345 Park Avenue to Industrial Color’s renewal at 32 Avenue of the Americas. For New York’s office market, it is another data point that tenants already inside a Rudin building are choosing to grow there rather than relocate, even as the broader office sector remains uneven.

The numbers

Mphasis first took 13,558 square feet on the 35th floor in 2021, under a sublease with Mission Capital Advisors, then signed a five-year extension directly with Rudin. The new deal adds 14,151 square feet on the 36th floor, nearly doubling the company’s footprint to 27,709 square feet, and extends its lease by 10 years. CBRE’s William Iacovelli and Patrick Moroney represented Mphasis. Rudin’s Robert Steinman and Craig Panzirer handled the deal in house for the landlord. The 560,000 square foot building sits between East 25th and East 26th Streets.

What’s next

Rudin has not disclosed asking rent or a target completion date for Mphasis’s build out on the 36th floor. The deal continues a pattern of existing office tenants expanding in place at Rudin buildings through 2026, a trend worth tracking as more leases come up for renewal across the portfolio in the months ahead.