- BXP has started vertical construction on 343 Madison Ave., a 46-story, 930K SF office tower in Midtown Manhattan, with a late 2029 delivery timeline.
- The $2B project will feature sustainable design, Class A amenities, and direct access to Grand Central Madison Concourse.
- A major financial institution is slated to anchor the tower, occupying 30% of the space.
Breaking Ground In Midtown
BXP has begun vertical construction on 343 Madison Ave., reports Commercial Search. The 46-story office tower is set to reshape a key corridor in Midtown Manhattan. The 930K SF project is expected to be delivered by the end of 2029.
High-Profile Tenant In The Works
A major investment-grade financial institution has committed to occupy roughly 30% of the tower’s leasable space. Though unnamed, the tenant adds early credibility to the project. The commitment also boosts the tower’s long-term value.
Get Smarter about what matters in CRE
Stay ahead of trends in commercial real estate with CRE Daily – the free newsletter delivering everything you need to start your day in just 5-minutes
Design And Sustainability
Designed by Kohn Pedersen Fox, the tower will feature a range of floorplates—from 27,500 SF in the lower podium to 21,500 SF in the tower’s upper levels. The project will be fully electric, with no on-site combustion, and aims to achieve multiple high-level certifications including LEED Platinum, WELL Core, Energy Star 85+, Fitwel, and WiredScore Platinum.
Amenity-Rich Environment
Tenant amenities will include private terraces, a lobby café, and bicycle storage with cabanas and showers. As a result, these features meet evolving tenant demands for flexibility, wellness, and modern convenience. The tower aims to offer greater health, flexibility, and convenience.
Transit-Oriented Location
343 Madison is located between East 44th and 45th Streets. The building will offer direct access to the Long Island Rail Road’s Grand Central Madison Concourse. This connection enhances the tower’s appeal for daily commuters. BXP completed the first phase of construction in late 2024 by opening a new street-level entrance to the transit hub.
A Rare Development In A Slow Market
As of June, Manhattan had only 1.6M SF of office space under construction, according to Yardi Matrix. Nationwide, the pipeline hit a low of 41.5M SF, or 0.6% of existing inventory. Despite the sluggish pace, Manhattan remains home to some of the country’s most ambitious projects, including JPMorgan Chase’s 2.5M SF tower at 270 Park Ave., set to open this November.
Looking Ahead
343 Madison Ave. combines a premium location, sustainable features, and strong pre-leasing momentum. These factors make it one of Midtown’s most significant developments. The project stands out in a highly constrained office construction cycle.
