BXP Completes Initial Sale of Partial Interest in 343 Madison Avenue Development
BXP closed the sale of a 10.6% equity interest in its 343 Madison Avenue development in Midtown Manhattan to AVRS Partners. BXP retains full decision-making authority and management fees, and the sale reduces its required equity commitment while adding capital for the roughly $2.0 billion, 930,000-square-foot tower.
Key figures
- Square feet
- approximately 930,000
- Tower floors
- 46
- Pre leased pct
- 56%
- Construction loan
- $1.2 billion
- Development value
- $2.0 billion
- Sold interest pct
- 10.6%
- Expected completion
- Q3 2029
- Pre leased with loi pct
- approximately 70%
AI analysis
Red flags2 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.