Work 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 new 19-story glass-clad addition above the original roof parapet, and will yield 1.4 million square feet of office space and ground-floor retail space. The property 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.
Portions of the sidewalk shed have been removed as exterior work steadily finishes up. Some of the entrance canopies have been installed along the eastern elevation facing Park Avenue South. Two large air conditioning units were also removed from the rooftop along the western side of the multi-story podium, making way for the outdoor terrace. Interiors are underway and IBM’s company logo can now be seen on some of the lower glass panels facing East 23rd Street, along with Chelsea Piers Fitness on temporary protective blue film on some of the windows.
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
Photo by Michael Young
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.
In recent news, 62,708 square feet of office space has been leased to a publicly traded financial services firm, and 35,898 square feet was leased with a subsidiary of Flutter Entertainment. JLL brokered both transactions.
IBM will be the 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 landscaped terraces on the tenth and eleventh floors, 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.
YIMYB anticipates One Madison Avenue will fully finish construction within the second half of this year.
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Interesting look. I think that the building rather looks like a hotel. It does however, blend in well with the existing building(s).
It looks a bit better than the renderings do – not a bad job at all!
The Metropolitan Life Tower was the tallest for 4 years, but unfortunately the deteriorating marble was replaced in 1964 with limestone. Most of the marvelous detailing was lost.
It should have been a little taller to reflect the met tower. And make the base look less squat.
Maybe not to the level of wonders of the world, but I know nature of the tower: Thanks to Michael Young.
Uh, another “nice” travesty, specially next to that beauty. Cheaply done by some “new age” designer of no name.