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

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 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 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
SL Green’s locks in big bank lease at
Hudson Yards redevelopment site
Pastor Gregory Fryer and the Immanuel Lutheran Church at 120 and 122 East 88th Street (Getty Images, Immanuel NYC, Jim.henderson, CC0, via Wikimedia Commons)
Thou Shalt Not Sell: Lutheran group sues to stop church’s deals
Thou Shalt Not Sell: Lutheran group sues to stop church’s deals
From left: Jay Suites' Juda Srour and 104 West 40th Street; Convene's Phoenix Porcelli and 101 Park Avenue (LoopNet, LinkedIn/Phoenix Porcelli, 101Park.com)
Back-to-meetings spurs demand for flex space
Back-to-meetings spurs demand for flex space
Related Companies founder Stephen Ross and 33 Hudson Yards (Getty Images, LoopNet)
Related eyeing sale of Equinox Hotel
Related eyeing sale of Equinox Hotel
RJBlock Properties' Rodney "RJ Block" Jackson and 2714-2718 Frederick Douglass Boulevard (RJBlock Properties, Apartments.com, Getty Images)
I-sales roundup: RJ Block buys Harlem mixed-use portfolio
I-sales roundup: RJ Block buys Harlem mixed-use portfolio
From left: Colony Hills’ Glenn Hanson and Rosewood’s Jonathan Brody with The Royce at Trumbull (Getty, Royce at Trumbull, LinkedIn, Rosewood)
Investors sell Trumbull apartments for $101M, 23% markup from last year
Investors sell Trumbull apartments for $101M, 23% markup from last year
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...