BXP Inks Law Firm to 150 KSF Lease at NYC Trophy Tower
The move brings the in-progress project to more than 50 percent leased.
Law firm McDermott Will & Schulte has signed a 150,000-square-foot lease for floors 31 through 37 of BXP’s 343 Madison Ave., a 46-story, 930,000-square-foot office tower under construction in Midtown Manhattan.
The law firm expects to move into the new space in October 2029, when the skyscraper is slated for completion. Located at the corner of East 44th Street, the tower will provide direct access to Grand Central Terminal’s Madison Concourse between 44th and 45th streets.
It is the second lease for the project that began vertical construction in July 2025 without any tenants. BXP signed its first deal in January, when investment and insurance firm Starr agreed to a 275,000-square-foot, 20-year lease for floors 16 through 27.
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BXP said Tuesday that Starr has recently exercised an expansion option for an additional two floors for approximately 46,000 square feet. The firm’s total occupancy will be 320,000 square feet over 14 floors. Together with additional leasing commitments, the transactions bring 343 Madison to 56 percent leased, according to BXP.
Law firm expansion plans
The move comes amid rapid growth for McDermott in New York, where it has increased its footprint tenfold over the past decade and recently became one of the top 10 largest firms in New York City.
McDermott Will & Schulte, which formed last summer following the merger of McDermott Will & Emery with Schulte Roth & Zabel, leases approximately 200,000 square feet at the adjacent 73-story One Vanderbilt tower. The firm also announced Tuesday it is taking an additional floor at One Vanderbilt and constructing more offices across its existing space. The expansion will add 175 new offices to the One Vanderbilt space by June 2027.
The law firm plans to operate its offices at 343 Madison Ave. and One Vanderbilt as a single, integrated campus that will be linked through Grand Central Terminal.
At 343 Madison Ave., McDermott will have more than 330 offices. The space includes conference facilities and a large outdoor terrace to be used by colleagues and clients.
McDermott’s expansion plans for two Manhattan trophy office towers is in line with broader legal sector leasing trends. Law firms are increasingly seeking long-term leases in high-quality spaces for branding purposes, recruiting and retaining talent and building culture, according to a Cushman & Wakefield report.
Hospitality-focused amenities and sustainability features
McDermott will also be able to take advantage of 343 Madison Ave’s robust amenity program and sustainability features. A double-height, private club on the top floors will have multiple spaces and terraces to dine both indoors and out. Food and beverage offerings will include a lobby café. Cabanas, bicycle storage and showers will be among the other amenities.
Sustainability features include a fully electric design with zero on-site combustion and a high-efficiency direct outside air system. Target certifications by the developer include LEED Platinum, WELL Core, Energy Star 85+, Fitwel and WiredScore Platinum.
BXP unveiled plans for the high-rise designed by Kohn Pedersen Fox in November 2024, when the company also appointed CBRE as the development’s exclusive leasing agent.
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