Midtown strollers might blink when they pass 550 Madison Ave., the landmarked office tower that’s been redesigned and repositioned by the Olayan Group.
Midtown strollers might blink when they pass 550 Madison Ave., the landmarked office tower that’s been redesigned and repositioned by the Olayan Group.
The tower’s block-long public arcade between East 55th and 56th streets, closed for several years, reopened last week twice as large as its gloomy enclosed predecessor and The open-air, half-acre urban garden designed by Snohetta sits beneath a 70-foot-high glass canopy. As if taking cues from the High Line or Little Island, it boasts 48 trees, 200 shrubs, 6,300 bulb plants, “10,000 herbaceous understory plants,” plus three food kiosks and lots of seats.
The article did include Bill Rudin’s rebuttal that his buildings were 65% occupied. But it missed the larger picture that we’ve reported:. Their sample includes few of the largest real estate empires which own or manage most of the best buildings. They’re disproportionately home to financial and law firms which have more people at their desks than other kinds of companies.
Kastle doesn’t count heads at properties of SL Green, Vornado, Boston Properties, Brookfield, Rockefeller Group, Related Companies, Tishman Speyer, Silverstein Properties and Rudin Management; nor bank-owned headquarters towers such as JP Morgan Chase’s 383 Madison Ave.; nor One World Trade Center, One Vanderbilt or the Empire State Building.Share this article:
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