343 Madison Avenue

343 Madison Avenue
Interactive map of the 343 Madison Avenue area
General information
Coordinates40°45′15″N 73°58′40″W / 40.7543°N 73.9778°W / 40.7543; -73.9778
Estimated completion
2029
Design and construction
ArchitectKohn Pedersen Fox

343 Madison Avenue is a skyscraper under construction in the Midtown Manhattan neighborhood of New York City. The building was designed by Kohn Pedersen Fox for developer BXP, Inc. The building will replace the former Metropolitan Transportation Authority headquarters across from Grand Central Terminal.[1] As of April 2026, excavation at the site was under way.[2] An entrance to the Grand Central Madison station, on part of the building's site, opened in May 2026.[3][4]

Norges Bank Investment Management was an investor in the project,[5] though they later exited the arrangement, returning their investment to BXP for $43.5 million.[6] BXP secured $1.2 billion in financing for the building from Wells Fargo, Bank of America, BNY, and JPMorgan Chase in July 2026.[7]

Starr, an insurance company, signed a lease for 275,000 square feet in the building, serving as its anchor tenant, in October 2025.[8] McDermott Will & Schulte, a Chicago-based law firm, signed a lease in the building for 150,000 square feet in 2026.[9]

See also

References

  1. ↑ Londono, Vanessa (August 7, 2022). "Boston Properties Files Permits For 49-Story Skyscraper At 343 Madison Avenue In Midtown East, Manhattan". New York YIMBY. Retrieved August 7, 2022.
  2. ↑ Young, Michael; Pruznick, Matt (December 22, 2025). "Excavation Underway for 844-Foot Skyscraper at 343 Madison Avenue in Midtown East, Manhattan". New York YIMBY. Retrieved February 5, 2026.
  3. ↑ Castillo, Alfonso A. (May 22, 2026). "MTA unveils new way of entering Grand Central Madison". Newsday. Retrieved May 25, 2026.
  4. ↑ Stark-Miller, Ethan (May 22, 2026). "Grand Central Madison gets new accessible entrance at 45th Street, boosting access to LIRR riders". amNewYork. Retrieved May 25, 2026.
  5. ↑ Wong, Natalie; Lundgren, Kari (September 27, 2023). "NYC Project Near Grand Central Draws Norway Fund as Investor". Bloomberg.com. Retrieved September 27, 2023.
  6. ↑ Elstein, Aaron (July 30, 2025). "Norway backs out as BXP's partner on 46-story Madison Avenue tower". Crain's New York Business. Retrieved February 1, 2026.
  7. ↑ Wong, Natalie. "NYC Office Project Near Grand Central Lands $1.2 Billion Loan". Bloomberg. Retrieved August 4, 2026.
  8. ↑ Durso, Isabelle (July 29, 2026). "BXP Secures $1.2B Construction Loan for 343 Madison Avenue Tower". Commercial Observer. Commercial Observer. Retrieved August 4, 2026.
  9. ↑ Saunders, Arabella (June 16, 2026). "McDermott Will & Schulte signs 150,000-square-foot lease at Midtown tower under construction". New York Business Journal. Retrieved August 4, 2026.
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