McDermott Will & Schulte Takes 150K SF at BXP’s 343 Madison Avenue
Event summary
- McDermott Will & Schulte signed a 150,000 square foot lease at 343 Madison Avenue in NYC.
- The law firm will occupy floors 31 through 37 of the 930,000 square foot building under construction.
- McDermott expects to move into the space by October 2029 as part of its campus strategy.
- The lease brings 343 Madison to 56% pre-leased, with Starr occupying 320,000 square feet.
The big picture
This lease underscores the continued demand for high-quality office space in Midtown Manhattan, particularly near transit hubs like Grand Central Terminal. BXP’s ability to attract major tenants like McDermott and Starr reflects the strategic value of well-located, amenity-rich properties in a competitive market. The building’s sustainability features and premium amenities position it as a benchmark for future workplace developments.
What we're watching
- Leasing Momentum
- How quickly BXP can secure additional tenants to reach full occupancy at 343 Madison Avenue.
- Market Demand
- Whether Midtown Manhattan’s flight to quality will sustain high occupancy rates in premium buildings.
- Sustainability Certifications
- The pace at which BXP achieves LEED Platinum and other sustainability targets for the project.