News: Brokerage

Powers, Ornstein and Cinti of OPEN Impact represent MoMath in 34,363 s/f lease at 635 Sixth Ave.

Manhattan, NY The National Museum of Mathematics (MoMath) will be moving to a new, larger location. The move signifies the growth and popularity of this 12-year-old New York City institution. MoMath’s new 34,363 s/f location at 635 Sixth Ave. is expected to open in 2026.

Stephen Powers, Lindsay Ornstein and Jake Cinti of OPEN Impact Real Estate represented the tenant, MoMath, in the transaction.  The landlord, Spear Street Capital, represented itself in-house.

The lease runs through 2036 and includes a six-year sublease from Lowe’s, the previous tenant (moved out in 2019), as well as a direct lease extension with Spear Street Capital.

Perkins Eastman co-CEO/executive director Nicholas Leahy and associate principal Andres Pastoriza will lead the design and build out of MoMath’s new space.

“Nearly 15 years ago, we began our collaboration with MoMath to establish its initial location, aiming to transform the global perception of mathematics — an unproven hypothesis at the time. Today, it’s incredibly rewarding to have helped them secure a new home that will exponentially increase their impact and exposure,” said Powers. “This complex deal is a testament to the expertise OPEN brings in working with nonprofits, and we’re excited to see MoMath’s expanded vision come to life in this new permanent location.”

The new MoMath location will nearly double the size of MoMath’s original space at 11 East 26th St. in Manhattan, with a space for early learners, twice as many classrooms, dozens of new exhibits, and a presentation area. The Museum will also be able to host unique, one-of-a-kind events, including seated dinners for 300 people.

MoMath’s current temporary pop-up space, “MoMath on Fifth,” located at 225 Fifth Ave., is expected to continue operating until the launch of the new space.

“With the increased focus on STEM education and math-based careers, the demand for an educational math museum has risen,” said John Overdeck, chairman, National Museum of Mathematics. “MoMath plays an important role in encouraging and bringing math to life for every generation.”

“In the dozen years since it first opened its pi-handled doors to the public, MoMath has become an unparalleled place for math engagement. Now, in our new, larger home, we will have even more room for innovative exhibits, educational programs, and immersive experiences that will inspire curiosity, creativity, and a love of math in visitors of all ages for years to come,” said Cindy Lawrence, CEO and executive director, National Museum of Mathematics. “We look forward to sharing the wonder and beauty of math with the local community, with New Yorkers, and with visitors from all over the country and the world.”

MORE FROM Brokerage

Century Cricket Centre to open first U.S. location near Bryant Park in 14,000 s/f lease

Manhattan, NY Century Cricket Centre, an Australian-backed indoor cricket and sports-tech concept, will open its first U.S. location in a 14,000 s/f at 25 W. 39th St. near Bryant Park following a 15-year lease arranged by Lee
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.