RXR Realty, the minority owner of the 22-story, 745,312-square-foot Class A office building at 340 Madison Avenue, bills it as one of the few modern assets in the Grand Central area. RXR bought a 49 percent stake in the building in 2010 in a deal that valued it at $570 million. Broadway Partners and USAA Real Estate Company own the rest.¾The Art Deco building was built¾in 1928.
The building takes up a full block along Madison from 43rd to 44th streets, and includes some marquee names on its tenant roster: McDermott Will & Emery, Massachusetts Mutual Life Insurance, PNC, SunGard and the United States Office of the Comptroller of the Currency. Asking rents at 340 Madison are thought to start in the low $70s a square foot, about average for that area of Midtown.
The building underwent a $40 million renovation in 2006 under previous owner Harry Macklowehence RXRs description of it as one few modern assets in the Grand Central area. Macklowe lost the building, and several others, shortly after the renovation, when he could not pay back a $7 billion loan.¾ -TA
- Address 340 Madison Avenue
- neighborhood Grand Central
- borough Manhattan
- owner RXR Realty
- owner entity 340 MADISON AVENUE SY
- floors 22
- Year Built 1922
- square feet 745,312
- block and lot 1-01278-0014
- BIN 1035357
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- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Midtown
- Borough Manhattan
- Square feet 40,364
- Publication Date 10/01/2015
- Event Date 08/22/2015
- Party 1 Twitter
- Party 1 Brokerage Cresa Partners
- Party 1 Broker Christina Clark, Eric Thomas
- Party 2 Prometheus Global Media
- Party 2 Brokerage Newmark Grubb Knight Frank
- Party 2 Broker Chris Mongeluzo, E.N. Cutler
- Event Financing
- Address 340 Madison Avenue
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 750,000
- Publication Date 10/01/2011
- Event Date 08/22/2011
- Party 1 RXR Realty, Broadway Partners, USAA Real Estate Company
- Party 1 Brokerage HFF
- Party 1 Broker Michael Tepedino
- Party 2 Cornerstone Real Estate Advisers
- Event Sales
- Address 340 Madison Avenue
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 35,625
- Price $ 570,000,000
- Price per foot $ 16,000.00
- Publication Date 06/01/2010
- Event Date 04/22/2010
- Party 1 Broadway Partners
- Party 1 Brokerage CBRE
- Party 1 Broker Darcy Stacom, William Shanahan
- Party 2 RXR Realty
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Central Park South
- Borough Manhattan
- Square feet 36,250
- Publication Date 01/01/2010
- Event Date 11/17/2009
- Party 1 National Financial Partners Corp.
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Alexander Chudnoff, Douglas Dolgoff, Haley Klein
- Party 2 Regent Business Centers
- Party 2 Brokerage Newmark Knight Frank
- Party 2 Broker Scott Klau
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Midtown
- Borough Manhattan
- Square feet 11,119
- Publication Date 10/01/2009
- Event Date 08/17/2009
- Party 1 SunGard
- Party 1 Broker Daniel Katcher, Paul Ippolito, Michael Ippolito
- Party 2 Facebook
- Party 2 Brokerage Grubb & Ellis
- Party 2 Broker Larry Zuckerman
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 4,115
- Publication Date 07/01/2008
- Event Date 05/22/2008
- Party 1 Broadway Partners
- Party 1 Brokerage CBRE
- Party 1 Broker Howard Fiddle, Paul Amrich
- Party 2 Zenkyoren Asset Management of America
- Party 2 Brokerage JLL
- Party 2 Broker Hitoshi Aratani, Nathanael Pennington
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 13,328
- Publication Date 07/01/2008
- Event Date 05/22/2008
- Party 1 Broadway Partners
- Party 1 Brokerage CBRE
- Party 1 Broker Howard Fiddle, Paul Amrich
- Party 2 Banco Espirito Santo Investment
- Party 2 Brokerage Savills Studley
- Party 2 Broker Daniel Horowitz, Jeffrey Peck
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 99,504
- Price per foot $ 80.00
- Publication Date 07/01/2008
- Event Date 05/22/2008
- Party 1 Broadway Partners
- Party 1 Brokerage CBRE
- Party 1 Broker Howard Fiddle, Paul Amrich
- Party 2 Office of Comptroller of Currency
- Party 2 Brokerage Savills Studley
- Party 2 Broker Ken Ruderman, Michael Goldman
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 11,113
- Publication Date 07/01/2008
- Event Date 05/22/2008
- Party 1 Broadway Partners
- Party 1 Brokerage CBRE
- Party 1 Broker Howard Fiddle, Paul Amrich
- Party 2 Unison Site Management
- Party 2 Brokerage Savills Studley
- Party 2 Broker Daniel Horowitz, Jeffrey Peck
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Midtown
- Borough Manhattan
- Square feet 10,000
- Publication Date 06/01/2008
- Event Date 04/17/2008
- Party 1 Macklowe Properties
- Party 2 McDermott Will & Emery
- Party 2 Brokerage Studley
- Party 2 Broker Mitchell Steir, Howard Nottingham, Matthew Barlow, David Goldstein
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 40,000
- Publication Date 04/01/2008
- Event Date 02/21/2008
- Party 1 Broadway Partners
- Party 1 Brokerage CBRE
- Party 1 Broker Paul Amrich, Howard Fiddle
- Party 2 PNC Bank of Pittsburgh
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Central Park South
- Borough Manhattan
- Square feet 120,000
- Publication Date 03/01/2008
- Event Date 01/16/2008
- Party 1 Broadway Partners
- Party 2 SunGard
- Party 2 Brokerage GVA Smith Mack, Newmark Knight Frank
- Party 2 Broker Jeff Mack, Michael Ippolito
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Midtown
- Borough Manhattan
- Square feet 4,580
- Publication Date 11/01/2007
- Event Date 09/17/2007
- Party 1 Broadway Partners
- Party 1 Brokerage Sinvin Real Estate
- Party 1 Broker Porter Fulmer
- Party 2 H5 Technologies
- Party 2 Brokerage Sinvin Real Estate
- Party 2 Broker Porter Fulmer
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Central Park South
- Borough Manhattan
- Square feet 99,485
- Publication Date 10/01/2007
- Event Date 08/17/2007
- Party 1 Broadway Partners
- Party 1 Brokerage JLL
- Party 1 Broker Matthew Astrachan, Mitchell Konsker
- Party 2 National Financial Partners
- Party 2 Brokerage Cushman & Wakefield
- Party 2 Broker Alexander Chudnoff, Haley Klein
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Central Park South
- Borough Manhattan
- Square feet 160,000
- Publication Date 06/01/2005
- Event Date 04/17/2005
- Party 1 Macklowe Properties
- Party 1 Broker Edward Weiss, Tara Stacom
- Party 2 McDermott Will & Emery
- Party 2 Brokerage Studley
- Party 2 Broker Mitchell Steir, Howard Nottingham, Matthew Barlow, David Goldstein
- Event Retail Leasing
- Address 340 Madison Avenue
- Neighborhood Grand Central
- Borough Manhattan
- Square feet 4,087
- Publication Date 03/01/2005
- Event Date 01/20/2005
- Party 1 Macklowe Properties
- Party 1 Brokerage Cushman & Wakefield
- Party 1 Broker Tara Stacom
- Party 2 FILA
- Party 2 Brokerage CBRE
- Party 2 Broker Robert Gibson, Jedd Nero, Jordan Mandel
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Midtown
- Borough Manhattan
- Square feet 29,000
- Publication Date 03/01/2005
- Event Date 01/15/2005
- Party 1 Macklowe Properties
- Party 1 Broker Tara Stacom
- Party 2 Sports Brand International
- Party 2 Brokerage CBRE
- Party 2 Broker Robert Gibson, Jedd Nero, Jordan Mandel
- Event Office Leasing
- Address 340 Madison Avenue
- Neighborhood Central Park South
- Borough Manhattan
- Square feet 43,000
- Publication Date 06/01/2004
- Event Date 04/17/2004
- Party 1 Macklowe Properties
- Party 1 Broker Mitchell Konsker, Tara Stacom
- Party 2 Office of the Comptroller of the Currency
- Party 2 Brokerage Studley
- Party 2 Broker Michael Goldman