BXP has commenced full vertical construction of 343 Madison Ave., a 930,000-square-foot, 46-story office tower with direct access to Grand Central’s Madison Concourse between 44th and 45th streets. The REIT has executed a letter of intent with a prestigious, investment-grade financial institution to anchor 343 Madison Avenue and occupy 30% of the building.
“We are thrilled to move forward with vertical construction of 343 Madison,” said Owen Thomas, chairman & CEO, BXP. “At the best positioned office development site in New York, BXP will deliver a premier workplace that represents a strong and significant value creation opportunity for BXP’s shareholders as well as a core long-term asset within our portfolio.”
Designed by Kohn Pedersen Fox, the Midtown East building will offer 40 premier workplace floors, ranging from 27,500 square feet in the podium to 21,500 square feet in the high-rise. Specialty floors including private terraces and elevated ceiling heights will allow clients to design a multi-functional workplace that accommodates a variety of work styles and space needs.
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