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SL Green and Mori Building form JV for $175M development at 346 Madison Avenue in NYC

Company Fundamentals
27 May 2026
GlobeNewsWire
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Bullish
pluang ai news

SL Green Realty Corp. has sold a 49% joint venture interest in the development of 346 Madison Avenue to Japan's Mori Building Co. for $175 million, retaining 51% ownership and managing development and leasing. The new 46-floor office tower, designed by KPF, will feature 850,000 rentable square feet with sustainable, all-electric design and high-end amenities including terraces, a wellness center, and a Michelin-star chef-operated épicerie. Located near Grand Central Terminal, the project aims to set a new standard for office space in East Midtown, combining SL Green's local expertise with Mori Building's experience in large urban developments. Construction and leasing plans are underway to meet strong tenant demand for premium office space in Manhattan.

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