Tall & Urban News

SL Green Realty Corp an office landlord has announced that investment management firm Franklin Templeton has signed a 15-year, 347,474 square foot (32,281 square meter) lease at One Madison Avenue, a developing building that will replace the Metropolitan Life Home Office Building. The company will occupy the entire 11th through 22nd floors in the tower portion of the building. This lease follows the recently announced 328,000 square foot (30,472 square meter) lease with International Business Machines Corporation (“IBM”) and the 56,000 square foot (5,202-square-meter) lease with Chelsea Piers Fitness.

Schedule for completion in November 2023, One Madison Avenue is now 55 percent leased. It is building upon the existing limestone exterior plus adding more than 500,000 square feet (46,451 square meters) of new, virtually column free construction. A DOAS HVAC circulatory system will bring in 100 percent fresh air to the building and new floor-to-ceiling windows plus a contiuous curtain wall will draw in lots of natural daylight.

Large roof terraces will provide an opportunity to create indoor/outdoor, work/entertainment space. In addition to Chelsea Piers, amenities are currently anticipated to include a 13,000-square-foot (1,207-square-meter) upscale restaurant, 10,000-square-foot (929-square-meter) dining market and 7,000-square-foot (650-square-meter) tenant-exclusive lounge with direct elevator access to a 10,000-square-foot (929-square-meter) rooftop deck.

For more on this story, go to WFLA.