Law firm McDermott Will & Schulte has signed a major office lease at 343 Madison Ave, committing to approximately 150,000 square feet in the new tower being developed in Midtown Manhattan. The firm will occupy floors 31 through 37 in the roughly 930,000-square-foot building, which is currently under construction and designed with direct connectivity to Grand Central Terminal.
According to BXP, the agreement with McDermott adds to a growing tenant roster at 343 Madison Ave. With this lease in place and Starr’s previously reported expansion to 320,000 square feet, the property is now 56% pre-leased ahead of completion. The combination of large, multi-floor commitments from institutional tenants signals notable early demand for space in the project.
BXP’s New York regional leadership framed the McDermott commitment as evidence that the upper end of the office market in Midtown Manhattan continues to draw interest. Hilary Spann, executive vice president for the New York region at BXP, said McDermott Will & Schulte’s decision to lease in the building reflects strong leasing momentum and an ongoing flight to quality in the office sector. She noted that both Midtown Manhattan and the Grand Central corridor have been outperforming as occupier demand concentrates in best-in-class assets with strong transit access.
Spann added that occupiers are increasingly prioritizing workplaces that can support talent attraction and retention, and positioned 343 Madison Ave as offering connectivity, flexibility and high-end amenities in a central Manhattan location. The tower’s linkage to Grand Central Terminal is a core element of its appeal, giving tenants direct access to one of the region’s primary transportation hubs.
For McDermott, the lease is described as part of a broader campus strategy. The new space at 343 Madison Ave will be connected through Grand Central to an adjacent property where the firm already maintains a presence, effectively integrating the two locations into a single, linked office campus. The firm plans to use the new premises as a client hub positioned in what it describes as the center of the global private capital ecosystem.
McDermott anticipates beginning occupancy of its new space in October 2029, giving both tenant and landlord a long runway to complete construction, fit-out and campus integration plans ahead of move-in.
