Macklowe: 510 Madison on Track Despite Fire

"We remain on schedule to put our first elevator cab into service in March," according to the letter issued Monday afternoon, signed by Macklowe Properties chairman William Macklowe. He adds, "The building's pursuit of LEED-certified Gold status has not been affected."

The Feb. 9 electrical fire originated within a construction shed on the 30-story, 350,000-square-foot tower's second floor. According to the Macklowe letter, the fire was contained primarily within the second floor and resulted in "minor damage" requiring only "the replacement of certain glass panels" on the tower's base floors, while floors seven through 30 sustained "minor, cosmetic damage." Inspections by the Fire Department of New York, the city's Department of Buildings and the project's engineers determined that the building was structurally sound, the letter states.

Published reports earlier this month speculated that investment firm Jay Goldman & Co. might back out of its lease of the full 19th floor and stay in place at 152 W. 57th St. as a result of the fire. However, the Macklowe letter states, "All of the leases at the building remain in full force and effect and are unaffected by the events of Feb. 9. In fact, we have already delivered the full floor on 19 for tenant fit-out."

A spokesman for Macklowe Properties says the prime ground-floor retail space at the southwest corner of 53rd Street has been leased to Tourneau. Leasing for the boutique office property is being handled by a CB Richard Ellis team that includes Mary Ann Tighe, CEO of the New York tri-state region; vice chairman Craig Reicher; SVP Paul Amrich; and associate Fernando Urrutia.