Rent/Lease Office 149 Madison Ave

149 Madison Avenue, known as the Steel Building, is a notable 12-story commercial office building located at the southeast corner of Madison Avenue and East 32nd Street in Manhattan's NoMad district. Constructed in 1916 and designed by architect Henry C. Pelton, the building features a distinctive facade of dark brown masonry combined with gray concrete, enriched by detailed architectural elements that give it unique character.

The building comprises approximately 119,000 square feet of office and retail space. Its interior includes a picturesque lobby and provides tenants with 24/7 access supported by on-site management and a full-time professional attendant at the front desk. Situated in a vibrant part of New York City, it is just a few blocks south of the Empire State Building, with Madison Square Park about five blocks away, offering convenient recreational options.

Public transportation is readily accessible, with the 33rd Street subway station located less than 400 feet from the entrance, making the location highly desirable for businesses and tenants.

In 2017, Columbia Property Trust acquired 149 Madison Avenue for $87.7 million and undertook a comprehensive modernization project. The renovations aimed to preserve the building's original 1916 architectural character while upgrading infrastructure, interior spaces, exterior elements, and common areas to meet contemporary standards. The architectural firm Gensler was engaged to assist with repositioning the building as a modern boutique office property.

Despite significant investment, including nearly $16 million spent on redevelopment and upgrades, the building was sold in early 2023 for $77 million following the termination of a major tenant lease. The property remains a prominent example of early 20th-century commercial architecture adapted for modern use, continuing to offer extensive office space in one of Midtown South's thriving submarkets.

149 Madison Ave, Manhattan, NYC

Alternative Addresses:

• 28 E 32nd St

Neighborhood: NoMad

Zip Code: 10016

Borough: Manhattan

Block & Lot: 00861-0057

General Information:

• Building Name: Steel Building
• Building Type: Office with Commercial
• Stories: 12
• Year Built: 1917
• Last Altered: 2020
• Total Square Footage: Approximately 119,006 SF

Acquisition Details:

The property was sold on February 6, 2023, for $77,000,000.

Key Features:

• 24/7 attended lobby
• On-site management
• Proximity to major NYC transit hubs
• Nearby amenities and attractions, such as Madison Square Park

149 Madison Avenue is a luxury building in Midtown, Manhattan, offering a blend of classic layouts with modern amenities. Key features include:

• 24-hour attended lobby
• On-site amenities designed to flex from workspaces to event spaces
• Integrated ground floor food options
• High-speed fiber connections from major providers like Verizon, Level 3, Cablevision, and Cogent
• Proximity to major NYC transit hubs and famous parks like Madison Square and Bryant Park

149 Madison Avenue in Manhattan, NYC, has seen significant changes in its office tenants. Notably, WeWork was initially set to occupy the entire 115,000 square feet of office space but exited the lease in June 2020 due to financial struggles and the impact of the COVID-19 pandemic on office demand. As of recent reports, the building has been sold to Enchanté Accessories after Columbia Property Trust failed to secure new tenants following WeWork's departure. Other past notable tenants include Delshah Capital LLC and Clare Ultimo.

149 Madison Avenue in Manhattan, NYC, offers tenants access to multiple high-speed internet providers. The building holds a WiredScore Gold certification due to its excellent digital connectivity. Available providers include:

• Verizon (Fiber, up to 1 Gb/s)
• Level 3 Communications (Fiber, up to 10 Gb/s)
• Cablevision/Lightpath (Fiber, up to 10 Gb/s)
• Cogent Communications (Fiber, up to 10 Gb/s)

Additional providers can be accommodated thanks to the building's infrastructure, featuring diverse points of entry and telecommunications rooms, which support business-critical services and enable faster installation times.