$300M Renovation Revealed for Madison Ave Asset

Olayan America and Chelsfield unveiled plans for a $300-million renovation of 550 Madison Avenue in Midtown Manhattan. Olayan America acquired the property (formerly known as the AT&T Building) and then the Sony Building, in May 2016 for $1.4 billion.

Snøhetta was hired to reimagine the lower levels of the 1984-era Philip Johnson-designed office tower, and update the building with state-of -art systems. Interior spaces will be improved to meet the needs of the modern office worker. Amenities, retail and restaurants will also be added. The proposed public space will nearly double in size to create a lush and verdant outdoor garden for the public’s enjoyment.

The renovation is the first major project to be announced for New York City’s East Midtown. The renovated 550 Madison will be ready to hand over to tenants in 2019.

CBRE’s Mary Ann Tighe, Howard Fiddle and Scott L. Gottlieb are handling the leasing.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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$300M Renovation Revealed for Madison Ave Asset

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$300M Renovation Revealed for Madison Ave Asset

Inside The Story

About Dennis Kaiser