New York, New York, USA
Construction has begun on American Prize for Architecture laureates Kohn Pedersen Fox’s One Madison Avenue, a mixed-use development located adjacent to Madison Square Park in Manhattan.
The building will contain 1.4 million sq ft of floor space, with construction involving building a 530,000 sq ft tower with column-free floors above a redeveloped nine-story podium.
First built in 1893 to designs by Napoleon Le Brun & Sons, One Madison Avenue was one of the city’s largest office buildings, spanning the full block between Park and Madison avenues and East 23rd and East 24th streets.
The existing office building will be demolished down to the ninth floor and above 17 floors will be built. The podium levels at the base of the existing building will have 90,000 sq. ft. floor plates and the new floors above will have 36,000-sq.-ft. floor plates.
One Madison Avenue’s new 26-story tower will incorporate two full garden floors, a new lobby and street entrance, state-of-the-art systems and amenities throughout.
“Our commitment and belief in New York City is unwavering,” said Marc Holliday, Chairman and Chief Executive Officer of SL Green. “We are proud to be bringing an important new office development to Midtown South that we are confident will attract the top companies and talent. Despite the headwinds presented by current and temporary challenges, we remain focused on boosting the New York City economy by creating thousands of construction jobs and bringing a new, best-in-class office tower to the highly sought-after Flatiron/Midtown South submarket for the first time in a decade.”
SL Green is redeveloping the building as-of-right, using 218,000 square feet of available development rights, which will increase the total rentable square footage of the building to approximately 1.4 million square feet. The development plan includes construction of a new 530,000 square feet tower with column-free floors above an existing and redeveloped nine-floor podium.
The newly-constructed tower will feature 32-35,000-square-foot floorplates. The 10th and 11th floors are specialty spaces featuring 22’ slab heights with tremendous outdoor roof decks. In addition, there are numerous outdoor roof terraces which enjoy skyline views of the city and neighboring park.
Attractively-designed building amenities will include new dynamic retail space, an 800-person, multi-purpose event space, 15,000-square-foot artisanal food market, 9,000-square-foot club-style tenant lounge and full-service fitness center.
One Madison Avenue is due to be completed by 2024.
Architects: Kohn Pedersen Fox PC.
Developers: SL Green Realty Corp.
Joint Venture Partners: National Pension Service of Korea and Hines
