News and Insights
A focus on assets under development: 550 Madison, Manhattan, New YorkBy Paul Apollonio, Managing Director, America
550 Madison is one of Manhattan‘s most iconic towers. Built in 1984 by renowned American architect Philip Johnson, the building first served as the global headquarters for AT&T and later became Sony’s North American headquarters.
The 850,000 sq ft, 41 storey mixed-use tower, located on Madison Avenue in the heart of The Plaza District, is now undergoing a major redevelopment on behalf of its’ owner, The Olayan Group.
Having engaged, the award-winning international architecture practice, Snøhetta, Chelsfield is working alongside RXR as well Gensler and Rockwell Group to deliver an exciting progressive vision for the building, New York’s youngest Landmark.
Sustainability and wellness are a central tenet of the development philosophy and upon completion, 550 Madison will be New York City’s only LEED Platinum + WELL Gold building. Significant infrastructure upgrades are underway including an innovative HVAC system with hospital level filtration and greater levels of fresh air intake as well as a redesign of the floorplates to optimize the expansive column-free space and ceilings ranging from 13.6 ft to 19.6 ft, all of which to provide tenants with the opportunity to create next-generation workspace.
The building will also feature over 20,000 sq ft of curated amenities including conferencing and meeting rooms, elevated food options (grab & go and private dining), a library, screening room, lounge, fitness studio and a significant art program all supported by luxury concierge services. The introduction of new two-story windows on the west façade will bring natural daylight streaming into the 7th floor amenity level.
At street level, a spectacular new half-acre landscaped garden is being created to become the largest green space in Midtown East and featuring a new canopy, water feature and artisanal kiosks. Newly created Madison Avenue retail stores will front Madison Avenue and open directly into the garden. Further, this greenspace will be visible from the adjacent streets and framed through an incredible three-story high arched window designed in the lobby, the garden will offer a place of respite from the dense urban environment for the public and tenants alike.
The ground-breaking project is in the advanced stages of delivery with the completed tower on track to open in Summer 2021 with the garden to follow in Spring 2022.