Tishman Speyer Developing an Incredible +/- 21,000 sf Penthouse at 520 Madison Avenue
There are a number of exciting new commercial developments across Manhattan. Downtown is seeing a resurrection from The World Trade Center. Midtown West is seeking new life from Hudson Yards. Grand Central is home to the much anticipated and arguably the most iconic, One Vanderbilt. Pushing further uptown, L&L is re-imagining two of their crown jewels, both 390 Madison and 425 Park Avenues. Though there is a plethora of high-end office product hitting the market in New York City, there is also a sensational opportunity in Tishman Speyer’s existing trophy office tower- 520 Madison Avenue. The building, which sits directly in the heart of The Plaza District, is currently home to corporate juggernauts such as Carlyle Group, Jefferies Group, and Davidson Kempner. Although the asset has long been considered one of New York City’s most premier office buildings, there is a very rare opportunity to occupy the most special space in the tower – the top floor penthouse.
For the past couple of years Tishman Speyer has been working diligently to come up with a design plan for perhaps the most coveted space in their portfolio. Fast forward to today and they are in the process of constructing this very special workspace with 15′ ceilings, floor-to-ceiling windows and a virtually column-free floorplate. Boasting incredible cityscape and Central Park views, the floor will also feature a large usable terrace. Upon completion, the entire floor will measure +/- 21,000 rentable square feet, as the existing mechanical components are being converted into office space. Additionally, the usable terrace will measure roughly 2,200 rentable square feet. Scheduled for completion in January of 2018, this rare penthouse opportunity is definitely something to keep on your radar if you have a lease expiring in the next year or so.