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BXP closes $1.2 billion construction loan for New York trophy tower

Ground-up development at 343 Madison in Manhattan is 50% leased
343 Madison Ave., depicted in a rendering, is designed by Kohn Pedersen Fox and will feature a dramatic double-height, client-exclusive club with terraces overlooking Manhattan. (BXP)
343 Madison Ave., depicted in a rendering, is designed by Kohn Pedersen Fox and will feature a dramatic double-height, client-exclusive club with terraces overlooking Manhattan. (BXP)
CoStar News
July 29, 2026 | 7:13 P.M.

National office developer BXP has secured a $1.2 billion construction loan for New York’s 343 Madison Ave., a nearly 1 million-square-foot office tower with direct access to Grand Central Terminal.

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