**BXP Launches Vertical Construction on 343 Madison Avenue in Midtown East**
BXP has officially commenced full vertical construction on 343 Madison Avenue, a 46-story, 930,000-square-foot office tower located between 44th and 45th Streets, offering direct access to Grand Central Terminal’s Madison Concourse.
The real estate investment trust has signed a letter of intent with a prestigious, investment-grade financial institution that will serve as the property’s anchor tenant, occupying 30% of the building upon completion.
“We are thrilled to move forward with vertical construction of 343 Madison,” said Owen Thomas, Chairman and CEO of BXP. “At the best positioned office development site in New York, BXP will deliver a premier workplace that represents a strong and significant value creation opportunity for our shareholders as well as a core long-term asset within our portfolio.”
Designed by renowned architectural firm Kohn Pedersen Fox, 343 Madison Avenue will include 40 premium office floors. Floor plates will range from 27,500 square feet in the podium to 21,500 square feet in the tower’s high-rise section. The building will also feature specialty floors with private terraces and elevated ceiling heights, allowing tenants to customize a workplace that meets evolving work styles and business needs.
The project represents a major step forward in the continued transformation of Midtown East into a hub for modern office development.
