343 Madison Avenue, New York, NY lands $1.20B

Overview

BXP secured a $1.2 billion construction loan for its 343 Madison Avenue office tower in Midtown, according to Commercial Observer. City records show two mortgages dated July 28, 2026, from BP 347 Madison Associates, LLC to Wells Fargo Bank, National Association, recorded July 30.

The recorded mortgages total about $1.2 billion: $883,140,088 and $316,859,912, covering the same tax lots. Commercial Observer reported that the lenders are Wells Fargo, Bank of America Securities, Bank of New York Mellon and J.P. Morgan Chase, and that the loan has a four-year initial term plus a one-year extension option.

The property is a 46-story, 930,000-square-foot office tower development, with completion set for 2029, according to Commercial Observer. The publication reported the building is already 50 percent pre-leased, including a 275,000-square-foot deal with C.V. Starr.

A $1.2 billion construction loan for a speculative-scale Midtown office tower shows lenders are willing to back new Class A office development near Grand Central when roughly half the space is already leased.

Parties Involved 3 recorded

Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.

Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.

Property & Project