SL Green signs IBM 328,000 s/f lease at One Madison Ave

New York, NY SL Green Realty Corp. and International Business Machines Corp. (IBM) has signed a 16-year, 328,000 s/f lease at One Madison Ave. covering portions of floors 2 and 7, entire floors 8 through 10 and a portion of the ground floor where IBM will have an exclusive lobby entrance creating a building within a building experience.

One Madison Ave. is SL Green’s latest development scheduled for completion in November 2023. The 1.4 million s/f office tower is located adjacent to Madison Sq. Park. 

“We’re extremely proud to welcome IBM to One Madison Ave. IBM is an ideal anchor tenant for One Madison, which was designed for exactly this kind of forward-thinking office user,” said Andrew Mathias, president of SL Green. “The incredible momentum we’re seeing at One Madison, and across our portfolio, reflects the long-term strength of prime Manhattan office space and leading companies’ unwavering belief in a collaborative work experience that’s only possible in the office.”

“We are delighted to be making One Madison Ave. the new home for IBM in New York City, where we have such a proud history,” said Joanne Wright, IBM’s vice president of enterprise operations and services. “Our new downtown hub will create a modern and dynamic experience for our employees, our clients, and our ecosystem partners. We see New York as an extraordinary center of talent and innovation, and we are confident our new home at One Madison will help attract the kind of talent we need to keep IBM at the vanguard of innovation.”

One Madison Ave. will combine the elegance of the existing 900,000 s/f limestone building with more than 500,000 s/f of new, virtually column free construction in a new tower above. The building design with the inclusion of DOAS HVAC, which circulates 100% fresh outside air, and new, oversized floor to ceiling windows in the podium combined with a continuous curtain wall in the tower that will provide natural daylight. In addition to Chelsea Piers Fitness, amenities include a 13,000 s/f full-service restaurant, 10,000 s/f artisanal food market, 7,000 s/f tenant-only club style lounge and 5,000 s/f shared tenant roof deck. 

IBM was represented by Patrick Murphy, Josh Kuriloff and Winston Schromm of Cushman & Wakefield, Inc. Paul Glickman, Alex Chudnoff, Diana Biasotti and Ben Bass of Jones Lang LaSalle represented the landlord.