Healthcare and housing tech firm EliseAI has signed a long-term lease to occupy nearly half of office building, 401 Fifth Avenue, in Midtown, Manhattan.
The 10-year deal allows EliseAI to operate 109,000 square feet. This represents a headquarters relocation for the firm, which is currently at 33 East 33rd Street, just a few blocks away from the new office. The move will expand its headquarters by more than 1.5 times.
EliseAI calls itself "one of NYC’s most promising and fastest-growing tech companies," with the lease allowing it to continue to grow its New York team headcount.
The building, spanning 204,000 square feet, is owned by Chetrit Organization. Formerly, 401 Fifth was known as the Tiffany & Co. building and was originally designed in 1905.
“We are very pleased to welcome this prominent tenant to multiple floors of our Fifth Avenue property,” Juda Chetrit and Michael Chetrit of Chetrit, said in a statement.
“Their presence brings new energy to the corridor and underscores the continued transformation of the area, particularly as it emerges as a hub for innovative, AI-driven companies. With neighbors like Amazon, Fifth Avenue is clearly entering an exciting new chapter.”
Newmark represented Chetrit, while JLL acted on behalf of EliseAI on the lease.
Overall in Manhattan, the office sector is coming off a strong 2025, which saw 42.9 million square feet of leasing activity, according to a market report from Savills. This was the highest annual number since 2014 and up 20.1 percent year-over-year. Also, sublease availability fell to its lowest levels since the third quarter of 2019.
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