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SL Green Celebrates the Topping Out of One Madison Avenue in Midtown South

NEW YORK, NY — SL Green Realty Corp., New York City’s largest office landlord, together with its joint venture partners including the National Pension Service of Korea and Hines, announces the topping out of its transformative One Madison Avenue office tower, located in Manhattan’s Midtown South submarket. With construction managed by AECOM Tishman and designed by architects Kohn Pedersen Fox, the project is anticipated to be completed on schedule in November 2023. One Madison Avenue is currently 55 percent leased, drawing interest from technology and financial service firms seeking office space in the heart of the city.

To celebrate the topping out of the new tower, Marc Holliday, Chairman and CEO of SL Green Realty Corp.; Jay Badame, President, Construction Management, AECOM; and Holly Leicht, Executive Director, Madison Square Park Conservancy, shared remarks in celebration of the major milestone for the Midtown South neighborhood.

“With the success of One Vanderbilt, we proved that fully integrating hospitality and amenity into every corner of the building is an approach that works,” Holliday said. “Chef Daniel Boulud will bring an exciting new French market and his first steakhouse to One Madison. Combined with its incredible rooftop venue, private dining, tenant lounge, and world-class health and wellness facilities, One Madison Avenue represents leading edge curation of experiences that fundamentally redefine the workplace.”

“We are incredibly excited for One Madison Avenue to reach this milestone, and we applaud SL Green, Hines, and all project partners for their steadfast commitment to the Madison Square Park neighborhood,” Leicht said. “Those living, working, and commuting around Madison Square Park can already see the significant impact of SL Green’s investment in one of New York City’s most vibrant, historic parks, and they will continue to see improvements both to the park and the surrounding business district as their vision becomes reality.”

“Madison Square Park is an important resource to our entire community, and I’m pleased to have the partnership of SL Green to reinvest in the neighborhood. The redevelopment of One Madison Avenue is a transformative milestone, as we look to create places and spaces that are welcoming to all,” said Council Member Carlina Rivera.

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“One Madison Avenue continues SL Green’s transformative vision of Manhattan East, and once again we’re honored to be part of that transformation,” Badame said. “Our team has worked diligently with all of our project partners to build this tower to the highest standards, which features a noteworthy, virtually column-free design. We look forward to the completion of One Madison Avenue next year.”

“We are especially proud of the design for One Madison Avenue, a creative repositioning project that complements the neighboring historic clock tower and integrates over an acre of outdoor space with exceptional views of Madison Square Park. We are thrilled to see it come to fruition as we commemorate the topping out,” said Lloyd Sigal, Managing Principal, Kohn Pedersen Fox. “We have a long, successful relationship with SL Green and are excited for this latest collaboration that will redefine the Midtown South neighborhood and raise the bar for office space for decades to come.”

Located adjacent to Madison Square Park, the 27-story, 1.4 million-square-foot Midtown South office tower will provide forward-thinking amenities and a healthy work environment. It will feature best-in-class amenities and wellness with the inclusion of DOAS HVAC, which circulates 100 percent fresh outside air and is expected to achieve LEED Gold and WELL certifications. New, oversized 9-foot by 9-foot floor-to-ceiling windows in the podium and a continuous curtain wall in the tower will flood every office floor with natural daylight. Oversized roof terraces will create indoor/outdoor, work, and entertainment sky gardens. Additional highlights include an expansion of an outdoor offering with an 11,000-square-foot roof deck featuring views that are connected directly to a 7,000-square-foot tenant-only amenity space, The Commons.

Michelin-starred Chef Daniel Boulud will open two new French culinary destinations. Boulud will bring to life a European petit marché located on 23rd Street between Madison Avenue and Park Avenue South. Inspired by the open-air markets of France, the marketplace will bring the height of French cuisine to Midtown South, with casual ‘cuisine de comptoir’ for dining while shopping or during the workday, and an elegant Parisian grand cafe with a variety of selections to enjoy. Shoppers will be able to purchase fresh seasonal ingredients from local purveyors, offering gourmet counter foods, premium ingredients, and prepared meals for home as well.

In addition, Boulud will bring a steakhouse to the newly transformed tower. The full-service restaurant will feature an open demonstration kitchen format with a wood-burning grill, and a design reminiscent of old European charm combined with classic New York City steakhouses, to create a welcoming atmosphere. Together, these new offerings will occupy 16,000 square feet of the building’s ground floor.

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Additional tenants include Chelsea Piers Fitness, which signed a 55,780-square-foot, 20-year lease in 2021; International Business Machines Corporation (IBM), which signed a 328,000-square-foot, 16-year lease in March 2022; and Franklin Templeton, which signed a 347,474-square-foot, 15-year lease in September 2022.

As part of the development, SL Green donated $250,000 to the Madison Square Park Conservancy, the nonprofit organization licensed by the New York City Department of Parks and Recreation to manage Madison Square Park. Jemma’s Dog Park officially opened in July. The donation facilitated the completion of a new dog run and will ensure the ongoing upkeep and maintenance of one of New York City’s most historic parks.

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