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1 Madison Avenue

1 Madison Avenue
New York, NY 10010
212-216-1612
Hotel, Office, New Construction

1 Madison Avenue (effectively 1-9 Madison Ave.), also known as the Metropolitan Life Insurance Company Tower, is a 700-foot skyscraper in the Flatiron District of Manhattan, overlooking Madison Square Park. The building was completed in 1909, and was the tallest building in the world for three years until the construction of the Woolworth Building. It was designed by Napoleon LeBrun & Sons in the romanesque revival style, and the clock tower design is based off the Campanile de San Marco tower in Venice, Italy. It was the world headquarters of Metropolitan Life Insurance until 2005.

New York REIT SL Green bought the building for $918 million in 2005. It contains 1,176,000 square feet of usable space. Major tenants include Credit Suisse, which maintains corporate headquarters at the building, and Charles Schwab. SL Green sold off a controlling stake in the clock tower (5 Madison Avenue) in 2007, which is now owned by Marriott International, and who is developing an Edition Hotel in the tower.

-WP

  • total units 273
  • square feet 1,041,173
  • const. status UNDER CONSTRUCTION
  • block and lot 1-00853-0002
  • BIN 1088749
  • Event Financing
  • Address One Madison Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 207,000,000
notes
The owner secured a loan of $207 million for the Flatiron property.
  • Event Office Leasing
  • Address 1 Madison Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 58,194
  • Publication Date 09/01/2014
  • Event Date 07/23/2014
  • Party 1 Credit Suisse
  • Party 1 Brokerage CBRE
  • Party 1 Broker Jason Gorman, Lewis Miller
  • Party 2 Yext
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker Neal Goldmacher, John Moran
notes
The software company signed a sublease for the entire fifth floor.
  • Event Office Leasing
  • Building Name Metropolitan Life Insurance Company Tower
  • Address 1 Madison Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 257,837
  • Publication Date 04/01/2008
  • Event Date 02/21/2008
  • Party 1 SL Green Realty
  • Party 2 Credit Suisse
notes
The Swiss bank inked an expansion lease for space in the basement and on the first, mezzanine and sixth floors. The bank signed another expansion lease at 315 Park Avenue South (see below).
  • Event Office Leasing
  • Building Name Metropolitan Life Insurance Company Tower
  • Address 1 Madison Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 12,064
notes
The consulting firm, which specializes in due diligence for real estate acquisitions and financing, signed a lease for part of the fifth floor. The 14-story, 1.2-million-square-foot tower is 99 percent leased and 95.5 percent occupied by Credit Suisse.

11/06/2017
Clockwise from left: 250 West 57th Street, 1 Liberty Plaza and 135 Madison Avenue There was a noticeable slowdown in office leasing activity in October. Clockwise from left: 250 West 57th Street, 1 Liberty Plaza and 135 Madison Avenue There was a noticeable slowdown in office leasing activity in October....

12/29/2016
Clockwise from left: Olayan Group's Hutham Olayan, RXR Realty's Scott Rechler, CalPERS' Marcie Frost, 550 Madison Avenue, 787 Seventh Avenue and 388-390 Greenwich Street Manhattan Clockwise from left: Olayan Group's Hutham Olayan, RXR Realty's Scott Rechler, CalPERS' Marcie Frost, 550 Madison Avenue, 787 Seventh Avenue and 388-390 Greenwich Street Manhattan...

09/28/2016
From left: Allianz CEO Oliver Bäte and 10 Hudson Yards, PGIM CEO Eric Alder and 11 Madison Last month’s 10 most expensive investment sales in From left: Allianz CEO Oliver Bäte and 10 Hudson Yards, PGIM CEO Eric Alder and 11 Madison Last month’s 10 most expensive investment sales in...

02/01/2016
All of this is not to say that CBRE is struggling. It brokered a record deal of its own: SL Green Realty’s $2.3 billion purchase of 11 Madison Avenue â€' the largest single-building deal in the city’s history...

12/31/2015
Top from left: Robert A.M. Stern, 11 Madison Avenue, Brian Chesky, One57 and Rubin Schron...

10/01/2015
Manhattan lays claim to the two priciest on the planet for the first half of 2015 â€' the $2.2 billion sale of the Manhattan office building 3 Bryant Park to Ivanhoe Cambridge, the investment arm of a Canadian pension fund manager, and the $1.95 billion sale of Manhattan’s Waldorf Astoria Hotel to Chinese insurer Anbang Group. Those were followed by the third-quarter closing of 11 Madison Avenue for a staggering $2.6 billion...

03/01/2015
11 Madison Avenue The most valuable office lease inked in Manhattan last year will bring nearly $1.7 billion in cash to the owners of 11 11 Madison Avenue The most valuable office lease inked in Manhattan last year will bring nearly $1.7 billion in cash to the owners of 11...

01/02/2015
Major office tenants steered clear of large blocks of office space two years ago, but that trend largely reversed itself last year. The biggest new office lease based on the space’s size was Time Inc. taking nearly 670,000 square feet at Brookfield Office Properties’ Brookfield Place, according to CompStak data. The top office lease overall was a renewal of 1.2 million square feet by Credit Suisse at the Sapir Organization’s 11 Madison Avenue...

10/01/2014
In addition, investment bank Credit Suisse and electronics giant Sony also signed mega leases in the submarket, both at 11 Madison Avenue...

03/01/2013
But insiders attribute the drop at CBRE, where the New York capital markets group is headed by Darcy Stacom, to the meager trading by large institutional players of big office buildings in Manhattan, the global firm’s go-to clients. Sources also note that several of the firm’s biggest listings were pulled from the market, such as 11 Madison Avenue, which had an asking price of $1.5 billion...

01/01/2013
The other large block is 57,904 square feet on the 14th floor at 11 Madison Avenue, the 2.2 million-square-foot office building on Madison Square Park...

12/01/2012
CBRE Group brokers represented both the sub-landlord, WestPoint Home, a company that makes home products like pillows and sheets, as well as IBM. IBM is moving from a larger space in 11 Madison Avenue, information from CoStar shows...

12/01/2011
Other assets include 209 unsold condos in the William Beaver House, a 47-story luxury tower in the Financial District; a stake in 11 Madison Avenue, a fully occupied Art Deco office tower; 737 Park Avenue, long one of the most coveted potential condo conversion sites in the city; and Trump Soho...

10/03/2011
As the economy improved, the firms took back some of the space themselves, including many of the largest blocks, such as the U.S. Trust Company space. Credit Suisse also took back 180,000 square feet at 1 Madison Avenue and 315 Park Avenue South that it had listed in the immediate aftermath of the Lehman collapse...
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