46-story SL Green tower project slated to begin in – Business News
SL Green and Japan’s Mori Building Co., which introduced a joint-venture partnership to develop a new Madison Avenue workplace tower, are losing no time getting the 46-story project off the ground.Demolition of the outdated Brooks Brothers building at 346 Madison Ave. and of next-door 11 E. forty fourth St. will begin in the third quarter of this yr, SL Green leasing director Steven Durels instructed Realty Check.The 850,000 square-foot tower is projected to be completed in the third quarter of 2031, Durels stated.
Demolition of the outdated Brooks Brothers building at 346 Madison Ave is scheduled for this fall. Steve Cuozzo for NY Post
He added it is going to be “the most highly amenitized new building in the city,” with options to embody 9 flooring with terraces, 9 with loggias, a luxurious wellness middle, a 215-seat auditorium, indoor padel court docket, and a landscaped terrace overlooking the avenue.The tower is to be designed by KPF. Neither the architectural firm nor SL Green has but launched renderings.
Superchef Daniel Boulud will operate an Epicerie fast-casual food spot in a tenants’ lounge. A “world-class restaurant” is deliberate for the ground flooring. Given Boulud’s close relationship with SL Green at One Vanderbilt (home to Le Pavillon) and One Madison Avenue (La Tete d’Or), would he be in the working for that function as nicely?
“He’ll be in the running,” Durels chuckled.
The project is one of a number of main workplace developments and redevelopments on Madison in the East 40s, together with BXP’s soon-to-rise 343 Madison and JP Morgan Chase’s redesign of 383 Madison.
The 850,000 square-foot tower that can substitute 346 Madison Ave. and 11 E. forty fourth Street subsequent door is predicted to be accomplished in late 2031. Steve Cuozzo for NY Post
Durels cited “proximity to [SL Green’s ] One Vanderbilt and the new JP Morgan Chase headquarters” as driving the Madison hall increase.
“One Vanderbilt clearly transformed the west side of Grand Central and established it as a luxury location, reinforced by the Chase tower,” he stated.
SL Green chairman Marc Holliday stated his company would sell a 49 % stake in the new project to Mori, Japan’s largest city panorama developer. SL Green would be the project’s development and leasing supervisor.
