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  #21  
Old Posted Dec 4, 2018, 3:27 PM
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I like this. It's sort of Art Deco meets the Seagram Bldg.
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  #22  
Old Posted Dec 4, 2018, 3:40 PM
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Originally Posted by tdawg View Post
I like this. It's sort of Art Deco meets the Seagram Bldg.
That will be a total 1.5 msf of space, with the modern amenities that we see going in all of the new office buildings around town. They will snag a big tenant, or tenants. I just hope that with the early success of One Vanderbilt, and the excitement they will generate around the space here, there is some spillover to MetLife North.

Also, I don't recall where Credit Suisse is moving to...


Quote:
The Real Deal previously reported over the summer that SL Green planned to use air rights to redevelop the tower as an office building after Credit Suisse’s lease expires in December 2020. At 1.1 million square feet, it is the largest tenant in the building.
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  #23  
Old Posted Dec 11, 2018, 2:19 PM
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This looks pretty good. But I think they should integrate some limestone in the addition. It can be mostly glass, but some hints of limestone would help integrate with the base and surrounding buildings.
     
     
  #24  
Old Posted Dec 19, 2018, 2:06 PM
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https://nypost.com/2018/12/18/facebo...e-madison-ave/

Facebook looks to lease redeveloped One Madison Ave.

By Lois Weiss
December 18, 2018


Quote:
Like other tech behemoths, Facebook is looking toward a larger future in the Big Apple with a play for the transformation of an office tower next to Madison Square Park.

The social media network is now negotiating to lease the One Madison Ave. redevelopment being planned by SL Green Realty Corp., sources say.
Quote:
Back in June, I wrote that SL Green wanted to add a tower to the top of the current 1.127-million-square-foot low-slung granite building.

The 1909-era structure is leased by Credit Suisse, which is moving out. The building sits on nearly the entire block between Madison and Park Avenue South, from East 23rd to East 24th streets.

Its northwest corner hosts the New York Edition hotel in the imposing 41-story landmarked clock tower.
Quote:
According to a spokesman, Facebook now occupies 758,000 square feet at 770 Broadway and another 266,000 square feet at 225 Park Ave. South.

In October, the Real Deal reported Facebook was in talks to lease all of 63 Madison Ave. at East 28th Street with 870,000 square feet. A long-term lease is ending there and most tenants are on co-terminating subleases.

According to the Real Deal, the Facebook negotiations caused that building to lose tenants
Quote:
But sources say those discussions with Facebook may be kaput as it turns to the upcoming reinvention of One Madison. Of course, Facebook could be negotiating with both buildings if, like other tech giants, it’s dramatically ramping up its own expansion plans over the next five years.
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  #25  
Old Posted Dec 19, 2018, 3:56 PM
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https://nypost.com/2018/12/18/facebo...e-madison-ave/

Facebook looks to lease redeveloped One Madison Ave.

By Lois Weiss
December 18, 2018
63 Madison is the one eyesore in this beautiful area. I had hoped that it would be razed and redeveloped.
     
     
  #26  
Old Posted Feb 11, 2019, 4:52 PM
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https://therealdeal.com/the-power-of...adison-avenue/

The Power of One – SL Green Infuses History with Modernity at One Madison Avenue





Quote:
New York City, at its core, is always in motion. To understand this dynamic in action, look at its commercial sector, which is a great barometer of where people are working, where new business hubs are emerging and the type of industry and businesses that are in demand. To meet ever-changing needs, it’s up to developers and landlords to stay ahead of the curve and build for the future.

That’s why in 2019 SL Green Realty Corp., New York City’s largest office landlord, is doubling down on its Midtown stronghold, which continues to be the premier business district in the world’s most important financial and creative capital.

Across Midtown, SL Green owns and manages some of the neighborhood’s most prominent buildings, including the Graybar Building at 420 Lexington Avenue, 1185 Avenue of the Americas, and 919 Third Avenue. In East Midtown, their under-construction supertall, One Vanderbilt, is set to redefine the city’s skyline. Towards the Hudson River, they’ve recently purchased their first property in the Hudson Yards sub-district, giving them a new foothold in the far west side neighborhood.
Quote:
...SL Green is redeveloping One Madison Avenue, a marquee building that will set the standard for new office construction in the sub-district. They’ve tapped Kohn Pedersen Fox to lead the building’s design and brought on Hines and Gensler, reuniting the team responsible for constructing One Vanderbilt.

One Madison will create 18 additional column-free floors above the existing building – expanding the rentable space to nearly 1.5 million square feet. The renovation will also include terraces on the 10th and 11th floors, featuring exceptional views of Madison Square Park and the surrounding area, in addition to private tenant terraces at the top of the tower. The building’s lobby and ground-floor retail space will undergo a full upgrade, too.
Quote:
One Madison was built as part of the Metropolitan Life Insurance Company’s original campus which includes the iconic MetLife tower – the tallest building in the world when it was built in 1909. When completed, the campus was an international sensation in the architectural community, not only for its modern design, but also for the complex’s rapid construction. In 1953, One Madison was renovated as a late Art Moderne building to reflect the contemporary style. SL Green’s plans for One Madison will literally build upon this history and continue the building’s legacy as an iconic address for the new century.
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  #27  
Old Posted Feb 11, 2019, 7:08 PM
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this is a really thoughtful and nice, clean, modern design.
     
     
  #28  
Old Posted Feb 11, 2019, 7:21 PM
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  #29  
Old Posted Feb 11, 2019, 7:58 PM
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This looks great!
     
     
  #30  
Old Posted Feb 11, 2019, 9:19 PM
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If they can do this kind of thing here, then I see no reason why they can't build-out the original supertall envelope at 11 Madison.
     
     
  #31  
Old Posted Feb 11, 2019, 11:40 PM
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If they can do this kind of thing here, then I see no reason why they can't build-out the original supertall envelope at 11 Madison.
Always a dream of mine.
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  #32  
Old Posted Feb 12, 2019, 12:16 AM
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This would be a great building and neighborhood to work in. I personally prefer it to the 50s (where I worked; CitiGroup building) or the 40s.
     
     
  #33  
Old Posted Aug 14, 2019, 10:18 PM
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https://therealdeal.com/2019/08/14/a...-office-space/

Apple is hunting for enormous Manhattan office space
iPhone maker could be looking for as much as 750K sf, sources say






By Rich Bockmann and Eddie Small
August 14, 2019


Quote:
Apple has joined tech giants like Facebook and Amazon in the competition to lock up prime blocks of large Manhattan office space.

The Cupertino, California-based tech company is looking around Manhattan for somewhere between 200,000 and 500,000 square feet for a new office, sources told The Real Deal. One source said the tech firm could take as much as 750,000 square feet.

Apple’s checked out the usual suspects of properties on the short list for most companies with assignments of that size, including the Related Companies and Oxford Properties Group’s 50 Hudson Yards, Related and Vornado Realty Trust’s Farley Post Office redevelopment and SL Green Realty’s One Madison Avenue, sources said.
Quote:
Apple is the last of the big FAANG tech companies (Facebook, Amazon, Apple, Netflix, Google) to scale up to a significant size in New York City. But to the city’s office landlords and leasing brokers, the move seemed inevitable: As the availability of office space and workforce talent in grows ever-tighter in Silicon Valley, these companies would naturally look to expand to tech hubs like New York.

Facebook, Google and Amazon each already have a significant presence in the city with offices that take up several hundred thousand square feet each. And they’re all competing with one another for the choicest properties – sometimes bumping their rivals.
Quote:
Amazon is reportedly in discussions to lease 400,000 square feet in the Hudson Yards neighborhood at SL Green’s 460 West 34th Street.

Netflix, meanwhile, recently leased 100,000 square feet in the Flatiron District for offices at Normandy Real Estate Partners’ 888 Broadway and 161,000 square feet at 333 Johnson Avenue in Bushwick for sound stages.

Apple currently leases about 45,000 square feet in the Flatiron District at the Kaufman Organization’s 100-104 Fifth Avenue – where it opened its office in 2011.

Sources said Apple’s current search is to accommodate new hires the company plans to make.
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  #34  
Old Posted Aug 14, 2019, 10:21 PM
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has it been confirmed that the Facebook deal fell through?
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  #35  
Old Posted Aug 15, 2019, 2:09 AM
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has it been confirmed that the Facebook deal fell through?
Facebook is going to the Hudson Yards.


http://forum.skyscraperpage.com/show...&postcount=652
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  #36  
Old Posted Oct 22, 2019, 7:41 PM
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https://commercialobserver.com/2019/...g-office-game/

Green Giant: Andrew Mathias on SL Green’s Changing Office Game
The REIT's president talks about three major developments and why he’s so interested in Madison Square Park



BY SARIKA GANGAR
OCTOBER 22, 2019


Quote:
On SL Green’s website, there’s a map of the REIT’s properties where miniature versions of its offices dot the New York City grid like pieces on a gameboard. The lean and sharp-angled One Vanderbilt is a few moves away from the blocky 1185 Avenue of the Americas, which is in striking distance of the stately 825 Eighth Avenue with its copper crown.

In the middle of an office game that’s increasingly being played out in new and interesting neighborhoods, SL Green has been busy devising its strategy. After all, they’re among the city’s largest office landlords, with ownership interests in about 27.2 million square feet in Manhattan alone.

Andrew Mathias, the firm’s 45-year-old president, has been busy leading that charge. The 20-year veteran of the firm has been handling a slew of new developments as the REIT plots three major additions to the gameboard. The firm just topped out at One Vanderbilt in Midtown and is turning its attention to adaptive reuse projects at One Madison Avenue in Midtown South and at 410 Tenth Avenue (formerly 460 West 34th Street) on the far west side.

Commercial Observer caught up with Mathias at the firm’s sleek Midtown headquarters to discuss the firm’s new blockbuster projects
Quote:
You’re getting ready to kick-off construction next year at One Madison. Can you talk a little about your vision for the project?

We conducted a big study in terms of the different variety of opportunities and uses we could explore in the site. And we settled on a plan with KPF, who we have a deep relationship with from One Vanderbilt, on this very exciting reuse of the base of the building, but demolition of three floors at the top, and then building this new spectacular glass office building; sort of melding an older, traditional look at the base with enormous floor plates, with this very modern glass office tower.

So that has generated a lot of excitement both within the firm and also within the tenant community, because I think it’s really what the tenants in this area are looking for; sort of that juxtaposition of old and new — as opposed to just new glass and steel, which is great and efficient and for a lot of tenants fits the bill. But I think part of what attracted tenants historically to Midtown South is a little bit more of the fabric and masonry and the streetscape feeling like it’s a little bit more older New York.
Quote:
What other uses did you consider for the site?

The zoning is very flexible, so we could have done residential or hotel or commercial. But the area has a tremendous need for office space, there’s just a real lack of newer buildings offering modern space and modern amenities. And because of that demand, we really felt like office was our best use.

What will One Madison be bringing to the table for tenants?

I think we’ll certainly have some of the largest floor plates in the area in the base of the building. And that is definitely a big attraction to the types of users that are doing more open-plan spaces, less offices, and more traditional [uses] like a trading environment or a technology environment. So, we think those base floors will really appeal to those users.

We’re going to open up some of the park-facing frontage on Madison with new glass to really bring some more light and more views to that side of the building. And then the tower is going to be just a spectacular, column-free, glass space with the latest technology to really be able to accommodate the technology-type or finance-type user.

Does that help you compete against offices in Hudson Square, which has access to things like the transatlantic cable?


I think that [One Madison] has a lot of infrastructure from Credit Suisse and MetLife before it, we’re going to piggyback on that infrastructure, enhance it, and I think we’ll compete well with Hudson Square and a bunch of those areas.

This is prime core in the center of Manhattan; it’s arguably a better location, then some of those outlying areas, because we’re on Madison Square Park. You have all these tremendous corporations in the area, amenities in the area, hotels and restaurants.
Quote:
We’ve heard you already have tenants kicking the tires on the building. Who’s been looking?

It’s definitely technology and finance, the TAMI [technology, advertising, media, information] sector and the FIRE [finance, insurance, real estate] sector. You have Credit Suisse and Sony at 11 Madison, so there’s a juxtaposition of a technology user and a finance user. And I think this building will likely follow suit.

We’re seeing finance, probably more so than we expected, look here. And as these finance companies all migrate towards becoming fintech companies, the line between finance and technology is getting blurred a little bit. Big technology groups within JP Morgan, within all these commercial banks, these technology groups a lot of times will locate in satellite locations away from the main offices. So, you see that with JP Morgan, their technology group is headquartered at 450 West 33rd, or 5 Manhattan West as it’s called.

We’re talking to some interesting big financial players and some of their fintech groups about potentially locating within the building. And then obviously, large technology players who are really attracted to this neighborhood and see this as a key recruiting tool to really get the best talent, by having a great location and the best office, we’re talking to a lot of those users as well.

Rents at One Madison are expected to start at $100 per square foot and average around $130 per square foot. How you see rents trending for newer construction in Midtown South?

Technology companies are becoming more accepting of rents for new construction in Manhattan, and that it just costs a lot of money to deliver these buildings. So they can’t have modern infrastructure and modern space at $60 or $70 per square foot, which is historically what they want to pay in these areas.

I think what you saw with Microsoft on Houston Street, and what you’re seeing increasingly even with Facebook at Hudson Yards, the rumored rent on that deal, I think these companies are getting their heads around paying a fair rent, but a higher rent, for new modern space.
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  #37  
Old Posted Oct 22, 2019, 8:18 PM
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Is 2 WTC not cool enough for Apple?
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  #38  
Old Posted Oct 22, 2019, 8:27 PM
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Is 2 WTC not cool enough for Apple?
Put it in the Hudson Yards, or one of the other "trendy" areas, and maybe so. Apple meanwhile is reportedly in a battle with Facebook over the Moynihan office space.
https://nypost.com/2019/10/15/apple-...space-sources/
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  #39  
Old Posted May 5, 2020, 5:53 PM
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SL Green Forms Partnership for $2.3B One Madison Avenue Redevelopment in Manhattan





Posted on May 5, 2020
by John Nelson


Quote:
L Green Realty Corp. has formed a joint venture partnership with the National Pension Service of Korea and Hines for the $2.3 billion redevelopment of One Madison Avenue in Manhattan. The 1.4 million-square-foot office project is situated in the borough’s Midtown South neighborhood facing Madison Square Park near the 23rd Street subway station.

SL Green, which is self-described as Manhattan’s largest office landlord, has sold a 49.5 percent interest in One Madison Avenue to NPS and Hines, which have combined to invest “no less than $492.2 million” of equity into the redevelopment.
Quote:
The existing office building at One Madison Avenue will be demolished down to the ninth floor, and the development group will build 17 glass and steel, column-free floors above. The podium levels at the base of the existing building will have 90,000 square foot floor plates, while the new floors above will feature 36,000-square-foot floor plates.

The 10th and 11th “garden floors” at the base of the new tower will offer more than 55,000 square feet of column-free space as well as 22-foot slab-to-slab heights. The garden floors will also feature nearly 30,000 square feet of panoramic terrace space. At full buildout, One Madison Avenue will have approximately 1.3 acres of accessible outdoor space for tenants.

Interior and exterior work to the existing podium levels includes renovating the lobby, modernizing material elements, enlarging existing windows and adding new retail space on the ground level, as well as activating below-grade spaces.

The project team plans to begin demolition in the third quarter, but no target delivery date was disclosed.
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  #40  
Old Posted Jun 2, 2020, 1:30 PM
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Timeline from SL Green...







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