The World Economic Forum has signed a 15-year lease for 58,131 square feet across the sixth, seventh, and eighth floors of 825 Third Avenue, moving its Manhattan operations out of 350 Madison Avenue. The nonprofit will pay an asking rent of $83 per square foot in a tower that stood completely empty just seven years ago.
A Tower That Sat Dark Returns to Life
According to The Real Deal, WEF previously kept its New York office on the 11th floor at 350 Madison Avenue before striking the new deal. The lease was also detailed by CoStar, which reported the World Economic Forum is leasing roughly 58,000 square feet in the renovated Midtown tower as part of its move to the east side of Midtown Manhattan. Newmark brokers David Falk, Robert Silver, Scott Brown, and Dylan Weisman represented the forum in negotiations, while landlord The Durst Organization was represented in-house by Thomas Bow, Ashlea Aaron, Bailey Caliban, and Sayo Kamara, per Commercial Observer's reporting on the deal.
The 40-story, approximately 530,000-square-foot tower was originally built in 1969 by Durst and designed by architectural firm Emery Roth & Sons. It went entirely vacant in 2019 when Advance Publications, parent company of Condé Nast, let its 25-year master lease expire after operating the full building with various subtenants, The Real Deal's reporting notes.
A $150 Million Overhaul Backed by a Nine-Figure Loan
Durst didn't let the tower sit idle. In April 2022, JPMorgan Chase Bank provided a $100 million three-year refinancing loan to back the landlord's $150 million comprehensive overhaul of 825 Third Avenue, funding new auto-tinting smart glass windows, modern elevators, and a redesigned white onyx lobby, according to the same Real Deal account.
The renovated tower also features an 11,000-square-foot amenity level on its 12th floor called Well& by Durst, designed by STUDIOS Architecture. The space includes a 6,000-square-foot indoor lounge and a 5,000-square-foot wrap-around outdoor terrace with 270-degree Midtown views, and it is the only part of the building stack with outdoor-space access.
Tenant Roster Fills Out Ahead of WEF's Arrival
Before the World Economic Forum signed on, 825 Third Avenue had already drawn a string of institutional tenants in 2025 and 2026, including asset manager Commonfund on the 22nd floor, Japanese insurer Tokio Marine Group across two floors, healthcare investment firm Lorient, and National Bank of Egypt, according to The Durst Organization. Filling those lower and mid-rise floors reportedly prompted Durst to begin marketing the building's top five floors, known internally as Top of House.
Clean energy developer Dimension Renewable Energy got there earlier, relocating to the 18th floor in February 2024 with 11,054 square feet at an asking rent of $88 per square foot, as reported by Commercial Observer.
A Broader Midtown Rebound
The timing lines up with a notable swing in Midtown Manhattan's office market. In the third quarter of 2026, Manhattan office leasing surpassed 10 million square feet for the fourth consecutive quarter, a benchmark last hit in 2002.
The World Economic Forum is a Geneva-based nonprofit with a New York office.
The relocation also comes amid leadership turmoil at the organization. In February 2026, WEF President Børge Brende resigned following scrutiny tied to unsealed Jeffrey Epstein documents, a story Hoodline reported at the time. Alois Zwinggi stepped in as interim president and CEO, with the Board of Trustees overseeing the transition and Zwinggi running day-to-day operations.
