BXP Signs 150,000-Square-Foot Lease with McDermott Will & Schulte at 343 Madison Avenue

BXP (NYSE: BXP) announced June 16, 2026, that McDermott Will & Schulte has signed a lease for approximately 150,000 square feet at 343 Madison Avenue in New York City, adding a major law firm tenant to the under-construction Midtown Manhattan tower.

The firm will occupy floors 31 through 37 of the 930,000-square-foot building, which is being developed with direct access to Grand Central Terminal's Madison Concourse between 44th and 45th Streets. McDermott Will & Schulte expects to begin occupying the new space in October 2029, coinciding with BXP's projected late 2029 delivery of the property.

Lease Details and Tenant Build-Out

McDermott Will & Schulte's footprint at 343 Madison will feature more than 330 offices spanning seven floors, along with versatile conference facilities and a large outdoor terrace. According to BXP, the lease is part of the firm's broader campus strategy, linking its occupancy in an adjacent property through Grand Central Terminal and positioning the new space as a client hub at the center of the global private capital ecosystem.

"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."

Hilary Spann, Executive Vice President of BXP's New York Region, said the lease reflects continued demand for high-quality office space in the Grand Central corridor. "Midtown Manhattan and the Grand Central corridor have continued to outperform as demand concentrates around best-in-class assets with exceptional transit access," Spann said. "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."

Pre-Leasing Progress at 343 Madison

The McDermott Will & Schulte transaction brings 343 Madison Avenue to 56% pre-leased. The building's other anchor tenant, global investment and insurance organization Starr Properties, signed a 275,000-square-foot lease in December 2025. Starr has since exercised an expansion option for an additional two floors totaling approximately 46,000 square feet, bringing its total commitment to 320,000 square feet across fourteen floors.

Together, the Starr and McDermott Will & Schulte leases, along with additional commitments, account for the building's current pre-leasing level as construction continues.

Building Design and Sustainability

Designed by Kohn Pedersen Fox, the 46-story tower is planned to include a hospitality-forward amenity program. A double-height, client-exclusive club on the top floors will offer indoor and outdoor dining and collaboration spaces, with terraces overlooking Midtown. Additional amenities include a lobby café and bicycle storage with cabanas and showers. Specialty floors with private terraces and elevated ceiling heights are also part of the design.

On the sustainability side, 343 Madison is designed as a fully electric building with zero on-site combustion and a high-efficiency direct outside air system. BXP is targeting LEED Platinum, Well Core, Energy Star 85+, Fitwel, and WiredScore Platinum certifications for the property.

About BXP

BXP is the largest publicly traded developer, owner, and manager of premier workplaces in the United States, with operations concentrated in Boston, Los Angeles, New York, San Francisco, Seattle, and Washington, DC. Organized as a real estate investment trust, BXP's portfolio totaled 50.4 million square feet across 164 properties as of March 31, 2026, including six properties under construction or redevelopment.

Sources: BXP Investor Relations