Development of New Office Tower on Madison Avenue
SL Green and Japan’s Mori Building have formed a partnership to construct a new office tower on Madison Avenue, quickly moving forward with their plans. Demolition of the past Brooks Brothers Building at 346 Madison Avenue and the nearby 11 E. 44th Street is expected to start in the third quarter of this year, according to SL Green’s leasing director, Stephen Durrells.
This ambitious 850,000-square-foot tower is anticipated to be finished by the third quarter of 2031, Durrells reported.
Durrells mentioned that the tower is designed to be “the most well-equipped new building in the city.” It will feature nine floors with terraces, nine more with loggias, a luxury wellness center, a 215-seat auditorium, an indoor padel court, and a landscaped terrace offering views of the boulevard. KPF will handle the design of the tower, although no renderings have been released yet by either KPF or SL Green.
In the building’s tenant lounge, the renowned Chef Daniel Boulud will operate Epicerie’s fast-casual dining option. Additionally, a “world-class restaurant” is planned for the ground floor. Given Boulud’s previous collaboration with SL Green at One Vanderbilt and One Madison Avenue, one can’t help but wonder if he’s also in consideration for the restaurant space.
Durrells laughed and said, “He’ll run.” It’s a lighthearted nod to Boulud’s reputation and connections in the area.
This new tower is part of a series of large-scale office developments cropping up in the East 40s along Madison, including the soon-to-launch BXP project at 343 Madison and JPMorgan Chase’s redesign of 383 Madison.
According to Durrells, “One Vanderbilt and JPMorgan Chase’s new headquarters are really driving the Madison Corridor boom.” He noted how One Vanderbilt has reshaped the west side of Grand Central into a high-end destination, complemented by Chase Tower.
SL Green Chairman Mark Holliday also shared that the company plans to sell a 49% interest in the new project to Mori Corporation, which is recognized as Japan’s largest urban landscape development firm. SL Green will take on the roles of development and leasing manager for the project.
