Modal Labs Inc. is set to relocate and significantly expand its New York City headquarters, committing to a large office lease at Rudin’s 32 Avenue of the Americas in Tribeca. The AI infrastructure platform provider has signed a seven-year lease for 156,763 square feet across three full floors in the office tower. The move represents a major upsize from the company’s current 25,000-square-foot headquarters at 233 Spring Street, with occupancy at the new location expected in mid-2027.
The relocation to 32 Avenue of the Americas positions Modal Labs within a property long associated with technology and communications users. Ownership has invested in technology infrastructure and other improvements at the building, which it views as key to maintaining appeal for innovation-driven tenants. The large block of space secured by Modal reflects its decision to consolidate and grow its footprint within a single, modernized office asset in the Tribeca neighborhood.
Michael Rudin, co-CEO of Rudin, noted that 32 Avenue of the Americas has a history of attracting leading technology companies. He emphasized that Modal Labs’ long-term commitment adds to that legacy and cited the property’s state-of-the-art technology infrastructure and recent capital improvements as important draws. According to Rudin, these upgrades, together with surrounding neighborhood amenities, continue to generate strong interest from technology users and other sectors looking for high-spec office space.
The lease transaction involved multiple brokerage and leasing teams representing both the building and the tenant. Rudin was represented in-house by Robert Steinman, senior vice president of leasing, and Craig Panzirer, senior vice president and head of office leasing. They worked alongside a Newmark team consisting of Peter Shimkin, David Falk, Nathan Kropp, Andrew Sachs, Eric Cagner and John Cilmi, who also represented the building’s interests.
On the tenant side, CBRE advised Modal Labs in the negotiations. The CBRE team included Scott Gottlieb, Michael Wellen, Lewis Gottlieb, Elliot Bok and Brad Auerbach. The coordinated effort among in-house and third-party brokerage professionals underscores the scale and complexity of securing a multi-floor headquarters lease in a competitive Manhattan submarket.
As Modal Labs prepares to transition from its existing 233 Spring Street location, the planned mid-2027 relocation will give the company a substantially larger and more technologically advanced headquarters environment. The expanded space at 32 Avenue of the Americas is expected to support the firm’s ongoing growth and operational needs, while reinforcing the property’s role as a hub for technology-focused office tenancy within Tribeca.
