IBM signed a 16-year, 328,000 square foot lease at SL Green's One Madison Avenue. The lease covers portions of floors 2 and 7, entire floors 8 through 10 and a portion of the ground floor where IBM will have an exclusive lobby
This lease follows the recently announced 20-year, 56,000 square foot lease with Chelsea Piers Fitness.
One Madison Avenue is scheduled for completion in November 2023. The 1.4 million square-foot Midtown South office tower is located adjacent to Madison Square Park.
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One Madison Avenue will combine the existing 900,000 square foot limestone building with more than 500,000 square feet of new, virtually column free construction in a new tower above. In addition to Chelsea Piers Fitness, amenities include a 13,000 square foot full-service restaurant, 10,000 square foot artisanal food market, 7,000 square foot tenant-only club style lounge and 5,000 square foot shared tenant roof deck.
IBM was represented by Patrick Murphy, Josh Kuriloff and Winston Schromm of Cushman & Wakefield, Inc. Paul Glickman, Alex Chudnoff, Diana Biasotti and Ben Bass of Jones Lang LaSalle represented the landlord.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
