Façade installation is nearing completion on One Madison Avenue, a 27-story commercial building in the Flatiron District. Designed by Kohn Pedersen Fox and developed by SL Green, the National Pension Service of Korea, and Hines, the project involves the gut renovation of an existing eight-story structure and the construction of a 19-story glass-clad addition above its roof parapet, and will yield 1.4 million square feet of office space and ground-floor retail. NYC Constructors is building the expansion and AECOM Tishman is the construction manager for the property, which occupies a full city block at the southeast corner of Madison Square Park between Madison Avenue, Park Avenue South, East 23rd Street, and East 24th Street.
More of the glass curtain wall has filled in the gaps in the steel-framed addition since our last update in May, including the voids where the crane was formerly anchored to the wide southern elevation. Work has also continued on the first two levels of the expansion, where earth-toned ceiling tiles have been installed. Cladding around the steel columns should finish soon. Several more windows on the second floor of the eastern elevation along Park Avenue South have yet to be installed, and the construction hoist remains attached to the northern wall.
Below is one of the entrances to the building along East 23rd Street, which remains behind fencing and the sidewalk shed.
IBM has signed on as the main anchor tenant at One Madison Avenue with a 328,000-square-foot, 16-year lease. Additional tenants include Chelsea Piers Fitness with a 55,780-square-foot, 20-year lease; Franklin Templeton with a 347,474-square-foot, 15-year lease; 777 Partners with an 18,746-square-foot, 15-year lease for the entire 27th floor; and Palo Alto Networks with a 28,903-square-foot, ten-year lease for the entire 26th floor.
Office amenities will include several landscaped outdoor terraces on floors ten and 11, a 9,000-square-foot tenant lounge, a three-level fitness center operated by Chelsea Piers Fitness, and bike storage.
Chef Daniel Boulud is also planning to open two dining destinations at the property: a 9,500-square-foot European-style marketplace along East 23rd Street, and a 6,500-square-foot steakhouse designed by Rockwell Group with a capacity of 800 patrons.
The nearest subways from the site are the 6, R, and W trains at the two nearby 23rd Street stations.
YIMBY last reported that construction on One Madison Avenue is five weeks ahead of schedule and is slated for completion sometime next month.