New Supertall Development Planned for Midtown East

Related Companies, through 625 Mad Realty LLC, has filed plans for a major development at 625 Madison Avenue in Midtown East, Manhattan. The project includes a 1,220-foot-tall, 68-story mixed-use building, featuring 101 residential units across 496,704 square feet. Submitted to the NYC Department of Buildings on November 26, 2024, the plans also outline retail space, dining facilities, fitness amenities, and recreational features. SLCE Architects is leading the design, and Andrew Orchulli submitted the application.

Proposed Features
The building will feature uxury amenities, including retail spaces on the first two floors and the lower level, dining facilities such as a restaurant and private dining area on the fourth floor, and a fitness center with squash and pickleball courts on the fifth floor. Additional features include screening and meeting rooms on the sixth floor, a pool on the seventh floor, and a "sky garden" on the ninth floor. From the 12th to the 66th floors, the building will house two residential units per floor, excluding mechanical floors. A rooftop terrace will offer space for up to 130 people.

Historical Context and Surrounding Projects
This project follows recent developments in the area, such as Extell Development’s 37-story residential tower at 655 Madison Avenue. Related Companies acquired the 535,344-square-foot site from SL Green Realty for $634.6 million in July 2024. Midtown East remains a hub for high-value real estate, ranking as the second most active neighborhood for development in New York City.

Neighborhood Insights
Midtown East is dominated by office buildings, comprising 81% of its 62.6 million square feet of commercial space. The area also boasts $2.3 billion in sales turnover over the last two years, reflecting robust activity in both commercial and residential markets.

Ownership and Portfolio
Related Companies, a major player in New York City real estate, owns 169 commercial properties with over 9,465 residential units. Their portfolio spans 21.6 million square feet, with a city-determined market value of $6.2 billion. The majority of their properties are located in Manhattan and include a mix of residential, office, and elevator buildings.

Site Details and Zoning
The development site features 535,344 square feet of built space and is zoned C5-3, allowing for high-density commercial and residential use. The lot spans Madison Avenue between 58th and 59th Streets and measures 35,146 square feet.

This project underscores the continued appeal of Midtown East as a prime location for luxury developments and large-scale investments.