Transwestern brokers 26,600 s/f lease for Mudrick Capital

Manhattan, NY Transwestern Real Estate Services (TRS) brokered a 26,600 s/f lease on behalf of Mudrick Capital Management at 31 West 52^nd St. The firm will relocate its corporate headquarters to the 16^th floor, more than doubling its current footprint at 527 Madison Ave.

Mudrick, an SEC-registered investment management firm with offices in New York and London, was represented in the 12-year lease by Transwestern’s Patrick Heeg, Thomas Hines, and Chase Gordon. Building ownership, Paramount Group, was represented by its internal team of Peter Brindley, Doug Neye, and Sean Kirk with Frank Doyle, David Kleiner and Andrew Coe of JLL.

“We conducted a comprehensive market evaluation and quickly recognized 31 West 52^nd St. offered the ideal combination of prestige, flexibility and lasting value for Mudrick Capital,” said Heeg, who also brokered the lease at 527 Madison Ave. “The building’s prime Plaza District location, along with its flexible floorplates, made it a perfect fit for accommodating the firm’s team structure, client-facing needs, and vision for a distinctive workspace.”  

The firm is working with Fogarty Finger architecture and design firm on the buildout of its new office, which it plans to occupy in early 2026. The design will feature private offices, collaboration space, conference rooms, meeting areas, and more, all benefiting from the building’s floor-to-ceiling windows and virtually column free floorplates. 

According to Transwestern research, the Midtown submarket had 283 million s/f of office space with 14.3% availability, as of the close of Q1 2025. The Plaza District, which has an inventory of 69 million s/f, currently has the lowest availability in Midtown at 11.3%.