SL Green to redevelop One Madison Avenue in Manhattan

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SL Green Realty has partnered with the National Pension Service of Korea (NPS) and Hines for the $2.3-billion redevelopment of One Madison Avenue in Manhattan.

First built in 1893 to designs by Napoleon Le Brun & Sons, One Madison Avenue was one of the city’s largest office buildings, spanning the full block between Park and Madison avenues and East 23rd and East 24th streets.

The existing office building will be demolished down to the ninth floor and above 17 floors will be built. The podium levels at the base of the existing building will have 90,000 sq. ft. floor plates and the new floors above will have 36,000-sq.-ft. floor plates.

One Madison Avenue’s new 26-story tower will incorporate two full garden floors, a new lobby and street entrance, state-of-the-art systems and amenities throughout.

The project is expected to be completed in 2024.

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