BXP Commences Vertical Construction on 343 Madison Avenue in Midtown Manhattan

BXP has launched the vertical construction of 343 Madison Avenue in Midtown Manhattan, a 930,000 sq ft workplace with direct access to Grand Central's Madison Concourse. Designed by Kohn Pedersen Fox, the 46-story tower features a hospitality-forward amenity program, market-leading sustainability features, and a client-exclusive club on the top floors. BXP has secured a letter of intent with a prestigious financial institution to anchor the building, occupying 30% of the space.

New York, NY—BXP (NYSE: BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, has commenced full vertical construction of 343 Madison Avenue. Located in Midtown Manhattan, the 930,000 square foot building will feature direct access to Grand Central's Madison Concourse between 44th and 45th Street. Designed by Kohn Pedersen Fox, the 46-story tower will offer a hospitality-forward amenity program and market-leading sustainability features.

The building will include a dramatic double-height, client-exclusive club on the top floors, designed to provide spaces for dining, connecting, and collaborating both indoors and outdoors. The club will feature striking terraces and expansive views overlooking Midtown. Additionally, a robust food and beverage program, including a lobby café and bicycle storage with cabanas and showers, will round out the amenity program.

BXP has executed a letter of intent with a prestigious, investment-grade financial institution to anchor 343 Madison Avenue, occupying 30% of the building's space. This commitment marks a significant milestone for the project, positioning 343 Madison as an unrivaled opportunity for premier businesses in the heart of Midtown.

The building will offer 40 premier workplace floors, ranging from 27,500 square feet in the podium to 21,500 square feet in the high-rise. Specialty floors, including private terraces and elevated ceiling heights, will allow clients to design multi-functional workspaces that accommodate various work styles and space needs.

Sustainability is a key pillar of the property. The building is designed to be fully electric with zero on-site combustion and a high-efficiency direct outside air system. It will also feature climate resiliency, decarbonization, and health & wellness as core design elements. The building aims to achieve certifications such as LEED Platinum, Well Core, Energy Star 85+, Fitwel, and WiredScore Platinum.

Owen Thomas, Chairman & CEO of BXP, stated, "We are thrilled to move forward with vertical construction of 343 Madison. At the best positioned office development site in New York, BXP will deliver a premier workplace that represents a strong and significant value creation opportunity for BXP’s shareholders as well as a core long-term asset within our portfolio."

Hilary Spann, Executive Vice President, NY Region, BXP, added, "The unprecedented level of client interest and the strong commitment of our anchor client underscore 343 Madison’s position as New York’s next iconic address. This project represents an unparalleled opportunity for premier companies to establish a world-class workplace in the heart of Midtown Manhattan."

The project is expected to be completed in late 2029. BXP’s portfolio, including properties owned by unconsolidated joint ventures, totals 53.7 million square feet and 186 properties, with ten properties under construction or redevelopment as of June 30, 2025.

References:
[1] https://www.businesswire.com/news/home/20250729063833/en/BXP-Launches-Vertical-Construction-of-343-Madison-Avenue-in-Midtown-Manhattan
[2] https://www.stocktitan.net/news/BXP/bxp-launches-vertical-construction-of-343-madison-avenue-in-midtown-saci57suhn3v.html