Mori Building Joins Its First U.S. Redevelopment Project in Manhattan

Mori Building will participate in the redevelopment of 346 Madison Avenue, a high-rise office tower in Manhattan, New York City. The project is a joint venture with major New York real estate company SL Green and will be Mori Building’s first redevelopment project in the United States. Completion is scheduled for 2031.

The property will be a 46-story mixed-use tower rising 293 meters, with total rentable area of approximately 23,898 tsubo (approx. 850,300 sq. ft.). The project site is located along Madison Avenue, a five-minute walk from Grand Central Terminal, with international financial institutions, retail facilities and Times Square nearby. The design will be handled by Kohn Pedersen Fox Associates, which also designed Roppongi Hills Mori Tower.

In 2024, Mori Building acquired a partial ownership interest in One Vanderbilt Avenue, a property developed and operated by SL Green. The property opened in 2020 as a 59-story, approximately 430-meter high-rise tower directly connected to Grand Central Terminal and is located near the 346 Madison Avenue project site.

In Manhattan, Mitsui Fudosan has participated in projects including 55 Hudson Yards, a 51-story property completed in 2018, and 50 Hudson Yards, a 58-story property completed in 2022, while Mitsubishi Estate also operates properties including 1271 Avenue of the Americas through its U.S. subsidiary Rockefeller Group. Mori Building has advanced large-scale projects mainly in Asia, including Shanghai World Financial Center and JAKARTA MORI TOWER, and will expand into the U.S. market through this project.

Key Facts

• Property Name: 346 Madison Avenue
• Developers: Mori Building Co., Ltd. (49% project share), SL Green Realty Corp. (51% project share)
• Location: 346 Madison Avenue, New York, NY 10017, U.S.A.
• Use: Office, retail and other uses
• Site Area: Approximately 599 tsubo (approx. 21,300 sq. ft.)
• Total Rentable Area: Approximately 23,898 tsubo (approx. 850,300 sq. ft.)
• Number of Floors: 46F / B2
• Height: Approximately 293 meters
• Completion: 2031