Construction Update: One Madison

One MadisonOne Madison

Related’s building at One Madison continues to make progress, though the bigger story is Bruce Eichner’s recent acquisition down the block, at 43 East 22nd Street. Per The Wall Street Journal, the new tower will rise 800 feet tall – making it the tallest building in the skyscraper gap between Midtown and Lower Manhattan.

The developer has already stated that Kohn Pederson Fox will design the new tower, which will contain 90 residential units. Much of the block is dominated by older townhouses; in this case, the trade-off between history and new construction should be worthwhile, as KPF’s architectural prowess should guarantee that whatever does rise is a significant improvement in terms of aesthetics.

Flatiron/Gramercy is a current hotbed for new construction, with several super-luxury projects either under construction or on the way – One Madison is the most prominent example, but 400 and 404 Park Avenue South are also nearby, both of which will contain very high-end residences.┬áRumors of the expansion to the MetLife North Tower have also been floating, with SL Green’s President Andrew Mathias recently mentioning the possibility of a new 450,000 square foot addition to the building – previous renderings for that project showed a 937-foot tower by Daniel Libeskind, though the ultimate design will probably be different, as that iteration was conceived back in 2007.

What is┬ácertain is One Madison’s status as the first of this new development wave – and the building’s imminent completion, which was delayed by the financial crisis. The sales office is set to open this August.

 

TFC Horizon
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