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BXP Secures $1.2B Construction Loan for 343 Madison Avenue Office Tower
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Commercial Observer
Once construction is completed — a finish date is set for 2029 — the $2 billion project at 343 Madison Avenue will feature offices, dining spaces, terraces and plenty of amenities.
That success was largely driven by McDermott’s lease at 343 Madison Avenue and a 322,000-square-foot deal with Boston Dynamics at its Reservoir Place office building in Waltham, Mass.
Meanwhile, the REIT’s revenue increased 3.1 percent to $895.7 million during the second quarter compared to $868.5 million during the second quarter of 2025.
BXP currently has six assets under contract for sale for total net proceeds of $240 million, including two office buildings in D.C.
In addition, Commercial Observer reported this month that BXP is putting its 7 Times Square ground lease in Manhattan’s Midtown on the market for just north of $700 million.