AI Boom Propels 11 Madison Avenue to Full Occupancy with Major Clay Lease

AI sales platform Clay signs 10-year lease at 11 Madison Avenue, bringing the SL Green-owned tower to 100% occupancy amid a Manhattan AI leasing surge.

By: AXL Media

Published: Mar 10, 2026, 7:01 AM EDT

Source: The Real Deal

The Deal Breakdown

Owned by SL Green Realty Corp. and Prudential Financial (PGIM Real Estate), 11 Madison Avenue occupies a full city block in Midtown South. Clay’s expansion marks a significant move for the nine-year-old startup, which recently reached a $3.1 billion valuation following a $100 million Series B funding round.

Space: Entire 14th and 16th floors, plus a portion of the 15th floor.

Duration: 10-year term.

Relocation: Moving from the Kaufman Organization’s 111 West 19th Street.

Brokerage: Newmark represented both the tenant (Aaron Ellison, Derek Feinman, Adam Spector) and the landlord (Brian Waterman, Brent Ozarowski, Eric Harris).