Prosperity Partners, a Chicago-based accounting and consulting firm, has leased 24,426 square feet on the entire 11th floor at 575 Madison Avenue in Midtown Manhattan. The firm signed a 10-year lease at the 25-story office tower located between East 56th and East 57th streets.
The building is owned by Steinberg & Pokoik. CBRE represented the landlord in the transaction. The lease terms and rental rate were not disclosed.
The move reflects Prosperity Partners' expansion into the New York market. The firm gains full-floor occupancy at a Class A office property in one of Manhattan's most established commercial corridors. The Madison Avenue location puts the company in proximity to major financial services tenants and professional service providers concentrated in the area.
For 575 Madison Avenue, the deal signals continued demand for large, contiguous office space from professional services firms. Landlords face persistent competition for quality tenants, particularly among accounting and consulting practices seeking Manhattan headquarters. The 10-year commitment from Prosperity Partners provides stable income for Steinberg & Pokoik over the next decade.
The lease activity occurs as Manhattan's office market shows mixed signals. Vacancy rates remain elevated in many areas, yet full-floor availability continues to attract out-of-state firms relocating their operations. East Midtown remains competitive for companies seeking prestige addresses and access to clients in finance, law, and consulting.
For other accounting and consulting firms, the Prosperity Partners lease demonstrates that major professional service providers still view Manhattan office space as essential for East Coast operations and client relationships. Rental rates for Class A Manhattan office space have stabilized after prior uncertainty, making it feasible for regional firms to justify New York expansions.