Demolition preparations are ramping up at 415 Madison Avenue in Midtown East, the site of a 605-foot-tall commercial skyscraper and number 25 on our year-end countdown. Designed by Skidmore Owings & Merrill and developed by 415 Madison Avenue LLC, the 40-story building will yield 343,100 square feet of office space and replace a 66-year-old structure currently owned by Rudin Management at the corner of Madison Avenue and East 48th Street. YIMBY last reported that the LLC was seeking special permits as part of the ULURP process to build in compliance with the East Midtown sub-district regulations. This would allow for the reconstruction of overbuilt floor area in a new development, as well as obtaining air rights from the nearby landmarked St. Bartholomew’s Church along Park Avenue. The new property will also include a 350-square-foot ground-floor retail pavilion and a 2,400-square-foot open-air public concourse.
The current 24-story building contains floor plates ranging from 5,000 to 15,000 square feet and upper levels that step back from the street. The new 415 Madison Avenue would yield an estimated 323,500 square feet within the superstructure and around 19,600 square feet below street level. The latter would be designed to connect with the Long Island Rail Road (LIRR) concourse as part of an agreement with the MTA to construct an entrance to the much grander East Side Access project at Grand Central Terminal and the Metro-North Railroad (MNR) lines. The scheme also includes a Metro-North Rail passageway on the ground floor along East 48th Street.
Photographs from the end of November show black netting and metal scaffolding quickly covering the majority of the façade, with progress finishing up across the western and southern elevations. Directly across to the south of the corner project site is 270 Park Avenue, the upcoming supertall headquarters of J.P. Morgan Chase that’s quickly taking shape. Stay tuned later this month for an update on that development.
Exterior renderings depict a light-colored façade made up of a modular design of double-height cubes, some with pocketed loggias on the second level. The building is clad with floor-to-ceiling glass and features multiple landscaped terraces on the first several floors before transitioning to a fairly straightforward rectangular massing culminating in a flat roof parapet. The diagrams below show the different sides of the structure and compare its size to the massive 270 Park Avenue.
Excavation, foundations, and construction on the LIRR East Side Access entrance began earlier this year and is anticipated to meet the 2023 deadline as detailed in the MTA agreement. Work on the tower itself is expected to last 18 months following the completion of the LIRR East Side Access entrance.
In the event that special permits are not approved, 415 Madison Avenue would then be built as a shorter 36-story, 468-foot-tall office building yielding 298,100 square feet, utilizing the floor area permitted on an as-of-right basis. This scenario would also allow for the transfer of 36,100 square feet of development rights from St. Bartholomew’s Church and nearly 40,900 square feet of existing non-complying floor area to be utilized for the new tower. Office space would account for 273,800 square feet with 2,200 square feet of retail space fronting on Madison Avenue, as well as 2,500 square feet for the LIRR East Side Access entrance. The transit concourse would account for 19,600 square feet below grade.
YIMBY last reported that the total construction period for 415 Madison Avenue is expected to last around four years, putting the completion of the new skyscraper sometime in 2024.