|Address:||400 Madison Avenue||Class:||A|
|Cross Streets:||Fifth & Madison||Size:||200,000 SF|
|Year built:||1929||Architect:||H. Craig Severance|
H. Craig Severance designed the office building rising at 400 Madison Avenue in Midtown Manhattan in a Neo-Gothic architectural style. The building was completed in 1929 as part of ‘Terminal City,’ a set of properties located directly above Grand Central Station’s underground tracks. As a result, 400 Madison Avenue owns the air rights above the tracks it lies on. In 2016, the building was designated an official landmark by the New York City Landmarks Preservation Commission. Nowadays, it offers Class A office and ground-floor retail space in an excellent transit-oriented location within the prestigious Plaza District.
200 KSF of Class A Plaza District Office Space
400 Madison Avenue offers roughly 200,000 square feet of Class A Plaza District office space across 22 stories. The property was renovated in 2000 and 2016 and incorporates more than 7,000 square feet of ground-floor retail space. It was purchased by Daishin Securities in 2018 for a price tag of $195 million and is being managed on-site by Macklowe Management.
Amenities at 400 Madison Avenue include keycard access, on-site management and security, a full-service conference room, a sophisticated tenant lounge, and a pantry with catering and breakout areas. The building offers full-floor and pre-built office spaces ranging in size from 1,500 to 10,500 square feet.
Getting to and from 400 Madison Avenue
400 Madison Avenue benefits from an excellent location in the heart of Midtown Manhattan, offering easy access to all parts of NYC via the nearby Grand Central Station. Those working in the building have easy access to many shopping, dining, and transportation options and are just a short walk away from Rockefeller Center, St. Patrick’s Cathedral, or Bryant Park.
Who is renting office space at 400 Madison Avenue?
The building at 400 Madison Avenue is ideal for small and mid-sized companies looking for transit-oriented office space in a prestigious Manhattan submarket. The Class A office building is home to various tenants in industries like law, financial services, insurance, design and architecture, and more. Notable tenants include Knotel, CIP Capital, Bluestone Lane, Trailstone, Mittleman Brothers, and retailers Madison Jewelers.
How much is the rent price for office space at 400 Madison Avenue?
Office asking rents at 400 Madison Avenue start around $70 per square foot but can vary depending on the size and terms of the lease. The Class A office building is an ideal fit for office-using businesses in any industry. Its proximity to Grand Central Terminal, which is currently undergoing a renaissance, guarantees that there will be competition for any available space.
Image via Google Street View