These are SL Green’s big plans for
One Madison Avenue

Redevelopment project will bring building’s total rentable square footage to 1.5M sf

TRD New York /
Dec.December 03, 2018 11:08 AM

A rendering of One Madison Avenue

SL Green Realty’s redevelopment project at One Madison Avenue will include 18 new floors and bring the building’s total rentable square footage to about 1.5 million square feet, according to new details released about the project on Monday.

The firm has tapped architecture firm Kohn Pedersen Fox to lead the redesign of the building, which will include modern office spaces, tenant floors and more than an acre of outdoor terraces.

SL Green is using 218,000 square feet of development rights to redevelop the building as-of-right. Demolition and construction should begin in 2020 or 2021 after the building’s existing tenant leases expire. The project will feature rentable floorplates of between 32,000 and 35,000 square feet.

The Real Deal previously reported over the summer that SL Green planned to use air rights to redevelop the tower as an office building after Credit Suisse’s lease expires in December 2020. At 1.1 million square feet, it is the largest tenant in the building.

SL Green also recently sold a 49 percent stake in its project at 2 Herald Square to an Israeli institutional investor. The company previously landed a $150 million loan for the building from MUFG Union Bank.


Related Articles

arrow_forward_ios
The Daily News Building at 220 East 42nd Street and SL Green CEO Marc Holliday (Credit: Getty Images)

SL Green puts Daily News building up for sale

SL Green snags private-equity firm at One Vanderbilt

SL Green snags private-equity firm at
One Vanderbilt

SL Green’s locks in big bank lease at Hudson Yards redevelopment site

SL Green’s locks in big bank lease at
Hudson Yards redevelopment site

Clockwise from left: 707 Eleventh Avenue, One Vanderbilt, SL Green chairman and CEO Marc Holliday and 410 Tenth Avenue (Credit: Google Maps, SL Green, Hines)

SL Green snaps up West Side office property

Boston Properties CEO Owen Thomas (left), Shearman & Sterling's David Beveridge, and 599 Lexington Avenue (Credit: Wikipedia)

Boston Properties inks big renewal with law firm at 599 Lex

As the years go by_A look back at 17 years of real estate history

A look back at 17 years of real estate history

250th Issue

The Real Deal celebrates 250 issues

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

arrow_forward_ios
Loading...