BXP Executes 150,000 Square Foot Lease with McDermott Will & Schulte at 343 Madison Avenue
BXP (NYSE:BXP), the largest publicly traded developer, owner, and manager of premier workplaces in the United States, today announced that McDermott Will & Schulte has signed a lease for approximately 150,000 square feet at 343 Madison Avenue in New York City. The firm will occupy floors 31 through 37 of the 930,000 square foot premier workplace, which is currently under construction and will provide direct access to Grand Central Terminal's Madison Concourse between 44th and 45th Streets.
"McDermott Will & Schulte's commitment to 343 Madison Avenue underscores the building's strong leasing momentum and the sustained flight to quality shaping the market," said Hilary Spann, Executive Vice President, New York Region, BXP. "Midtown Manhattan and the Grand Central corridor have continued to outperform as demand concentrates around best-in-class assets with exceptional transit access. As companies prioritize workplaces that drive talent attraction and retention, 343 Madison offers a rare combination of connectivity, flexibility, and premier amenities in the heart of Manhattan."
McDermott's footprint will feature more than 330 offices, spanning seven floors with versatile conference facilities, and a large outdoor terrace, creating a high-performance environment for both colleagues and clients. The lease is a component of McDermott's campus strategy, linking their occupancy in an adjacent property through Grand Central Terminal and providing a client-hub at the center of the global private capital ecosystem. The firm expects to begin occupying the new space in October 2029.
"McDermott's expansion to 343 Madison comes amid rapid growth in our New York presence, where we've increased our footprint tenfold over the past decade and recently rose into the top 10 largest firms in the city," said Ira Coleman, chairman of McDermott Will & Schulte. "We are redefining what a modern law firm can be by combining innovation, scale and client focus in this vibrant, technology-enabled space."
McDermott Will & Schulte will join global investment and insurance organization Starr, who signed a 275,000 square foot lease at 343 Madison in December 2025. Starr recently exercised an expansion option for an additional two floors, comprising approximately 46,000 square feet, bringing their total occupancy to 320,000 square feet over fourteen floors. Together with additional leasing commitments, these transactions bring 343 Madison to 56% pre-leased.
Designed by Kohn Pedersen Fox, the 46-story tower will offer a hospitality-forward amenity program and market leading sustainability features. A dramatic double-height, client-exclusive club on the top floors will include spaces to dine, connect, and collaborate indoors and out, with striking terraces and expansive views overlooking Midtown. A robust food and beverage program including a lobby café and bicycle storage with cabanas and showers round out the amenity program. Specialty floors, including private terraces and elevated ceiling heights, allow clients to design a multi-functional workplace that accommodates a variety of work styles and space needs.
Sustainability features include a fully electric design with zero on-site combustion and a high-efficiency direct outside air system. Target certifications include LEED Platinum, Well Core, Energy Star 85+, Fitwel, and WiredScore Platinum. BXP expects to deliver 343 Madison in late 2029.
About BXP
BXP, Inc. (NYSE:BXP) is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, concentrated in six dynamic gateway markets - Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. BXP has delivered places that power progress for our clients and communities for more than 55 years. BXP is a fully integrated real estate company, organized as a real estate investment trust (REIT). As of March 31, 2026, including properties owned by unconsolidated joint ventures, BXP's portfolio totals 50.4 million square feet and 164 properties, including six properties under construction/redevelopment. For more information about BXP, please visit our website or follow us on LinkedIn or Instagram.
This press release contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of the words "future," "will," "would," "expects," "intends" and similar expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond BXP's control. Should one or more of these known or unknown risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by the forward-looking statements. These factors include, without limitation, BXP's ability to complete the 343 Madison development project within budget, on schedule or at all, the uncertainties of real estate development activity, BXP's ability to obtain satisfactory certifications for the project, including LEED Platinum certification, and other risks and uncertainties detailed from time to time in BXP's filings with the SEC. BXP does not undertake a duty to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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Media Contacts
Heather Betz
VP, Regional Marketing at BXP
hbetz@bxp.com
BerlinRosen
bxp@berlinrosen.com