EliseAI, a New York-based AI startup focused on automating workflows across housing and healthcare systems, has signed a 10-year lease agreement at 401 Fifth Avenue, establishing the Midtown landmark as its New York headquarters.
The lease was signed with The Chetrit Organization, and will relocate EliseAI’s headquarters operations to a larger office footprint just a few blocks away from its existing Midtown presence.
With more than 400 employees and recurring revenue growing more than 100% year over year, the company described the move as an expansion tied to rapid growth and long-term investment in New York City’s technology ecosystem.
Located at the corner of Fifth Avenue and 37th Street, 401 Fifth Avenue is an eight-floor, 240,000-square-foot office building that has long been a recognizable part of the Midtown Manhattan corridor. EliseAI will occupy approximately 109,000 square feet within the property.
The company said the new office will expand its Midtown headquarters space by more than 1.5 times, reflecting continued hiring and operational scaling as it expands its AI-driven service platform.
EliseAI’s AI agents support housing providers across about 1 in 6 apartments in the U.S. and also work with healthcare providers nationwide, automating scheduling, intake, front desk operations, leasing workflows, maintenance handling and resident communications.
EliseAI co-founder and CEO Minna Song said the company’s roots in New York made the location decision especially important as it seeks to preserve collaboration and build its next stage of growth.
“New York is very special to us; it’s where we started building EliseAI,” said Minna Song, EliseAI co-founder and CEO. “Choosing our new home here was critical due to our strong in-person culture and our commitment to creating a truly exceptional experience for our people to collaborate and do their best work. The new space will let us further scale our New York team, contribute to the city’s technology ecosystem, and build the next chapter of AI in housing and healthcare.”
The company expects the new headquarters to help support talent growth and strengthen its ability to expand product development and customer delivery efforts.
401 Fifth Avenue is also known for its architectural significance. Formerly the Tiffany & Co. building, the property was designed in 1905 by McKim, Mead & White and is recognized as a Stanford White landmark with an Italian Renaissance façade along Fifth Avenue.
Chetrit Organization leaders said EliseAI’s move further signals changing momentum along the Fifth Avenue corridor as more tech and AI firms expand their presence in Midtown.
“We are very pleased to welcome this prominent tenant to multiple floors of our Fifth Avenue property,” said Juda Chetrit and Michael Chetrit of The Chetrit Organization. “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.”
EliseAI was represented in the transaction by Evan Margolin, Valentin Stobetsky, Calum Waddell, Will McGarry and Hale King from JLL.
The Chetrit Organization was represented by Brian Waterman, David Waterman and Alex Kesseler from Newmark, which serves as the exclusive leasing agent for the property.
EliseAI develops AI-based automation tools that integrate into housing and healthcare workflows to reduce manual work, improve efficiency and lower costs. Its platform supports medical practices with patient scheduling and intake tools, while also helping property managers streamline leasing, maintenance and resident engagement.
The company is headquartered in New York and also has teams in San Francisco, Boston and Chicago.
Originally reported by Business Wire.
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