BXP Advances 49-Story Office Tower at 343 Madison Avenue Near Grand Central

• BXP developing 950K SF office tower in Midtown East
• Foundation work underway on 49-story, 844-foot skyscraper
• Direct access planned to the Grand Central Madison concourse

BXP moves project into foundation phase

BXP (Boston Properties) is advancing construction at 343 Madison Avenue, with excavation and foundation work now actively progressing. Crews have begun forming sections of the foundation slab while continuing below-grade work. This marks a key milestone as the project transitions from site prep into vertical readiness.

Scale reflects continued bet on Class A office

The 49-story tower will deliver approximately 950,000 square feet of office space in Midtown East. Despite broader uncertainty in the office market, BXP is doubling down on premium, transit-oriented office assets. New construction at this level is targeting top-tier tenants seeking modern, high-performance buildings.

Grand Central access drives leasing appeal

One of the project’s biggest advantages is its direct integration with Grand Central infrastructure. The building will include subterranean access to the Grand Central Madison concourse. This connectivity provides tenants with access to multiple subway lines, Metro-North, and LIRR. For office landlords, proximity to transit remains one of the strongest leasing drivers in Manhattan.

Design and sustainability target top-tier tenants

Kohn Pedersen Fox designs the tower with a glass curtain wall and landscaped setbacks. The building will feature an illuminated crown and outdoor terrace spaces. It is also being built to high sustainability standards, including LEED Platinum and WELL Core certifications, as well as WiredScore Platinum targets. These features are increasingly required to attract institutional tenants.

What this means for Manhattan office investors

BXP’s continued investment in Midtown East signals confidence in the demand for next-generation offices. While older office stock struggles, new Class A developments near transit hubs are still attracting capital. For investors, the takeaway is clear. The office market is not disappearing, but it is consolidating around high-quality, well-located assets that meet modern tenant expectations.