One Madison Avenue Redevelopment 100% Leased and $1.65B Refinanced
SLG•SL Green’s One Madison Avenue redevelopment, featuring a 550,000-square-foot tower atop a nine-story podium, achieved 100% leasing and set record submarket rents. It secured a $1.65 billion refinancing, retains 67% of its original structure and reduces energy use by over 60%.
1. Award Recognition
SL Green’s One Madison Avenue was honored with the ULI Award for Excellence in Office Development, recognizing its leadership in design, sustainability and adaptive reuse within the office sector.
2. Project Features
The redevelopment preserved 67% of the original podium, added a 550,000-square-foot tower and integrated state-of-the-art HVAC, floor-to-ceiling windows and over one acre of landscaped terraces.
3. Leasing Performance
One Madison Avenue reached full occupancy, achieving some of the highest rents in its Manhattan submarket with tenants such as IBM, Franklin Templeton, Palo Alto Networks and other global firms.
4. Financial and Environmental Impact
The asset secured $1.65 billion in refinancing and is designed to cut energy consumption by over 60%, supporting New York City’s emissions targets and reinforcing institutional confidence.
