US 2.3bn One Madison Avenue project to be developed in Manhattan, US

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A US 2.3bn One Madison Avenue project is set to be developed in Manhattan, US by SL Green Realty Corp. and Hines. The project, which will span 1.4 million rentable square feet upon completion, will be a market-leading building at the doorstep of Madison Square Park.

One Madison Avenue

The re-imagined building will be built as-of-right, using unused development rights. The building will be demolished down to the existing ninth floor in order to create 17 new glass and steel, highly efficient, column-free floors above. The unparalleled podium, which features 90,000 square foot floorplates, will be paired with the efficient, virtually column-free 36,000 square foot floorplates in the newly constructed tower above.

Interior and exterior work to the existing podium, including revitalizing the lobby, modernizing core elements, enlarging existing windows, all while activating retail space and below-grade spaces, will create a complete, seamless, and unrivaled experience in Manhattan’s most in-demand office district.

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The 10th and 11th “Garden Floors” offer over 55,000 square feet of column-free space featuring 22-foot slab-to-slab heights coupled with over 29,000 square feet of panoramic accessible terrace space. These floors create an elegant transition from the contextual masonry base to the new tower addition. Between the Garden Floors and terraces throughout the building, One Madison Avenue offers approximately 1.3 acres of accessible outdoor space, providing a truly unique opportunity for tenants to create their own exclusive park in the sky.

About SL Green

SL Green Realty Corp., an S&P 500 company and Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of March 31, 2020, SL Green held interests in 102 buildings totaling 49.4 million square feet. This included ownership interests in 28.8 million square feet of Manhattan buildings and 19.6 million square feet securing debt and preferred equity investments.