Franklin Templeton Leases 12 Floors at SL Green’s One Madison

Investment management firm Franklin Templeton has signed a 15-year, 347,474 square foot lease at SL Green Realty Corp.’s One Madison Ave. The company will occupy the entire 11th through 22nd floors in the tower portion of the redeveloped building.  

The Franklin Templeton lease follows the recently announced 328,000-square-foot lease with IBM and Chelsea Piers Fitness’ 56,000-square-foot deal. Slated for completion in November 2023, One Madison is now 55% leased. 

SL Green chairman and CEO Marc Holliday called the Franklin Templeton and IBM leases “validation as to the exceptional quality of the building design. One Madison will transform the Midtown South market much in the same way that One Vanderbilt Ave. has transformed the Midtown East market.” 

Franklin Templeton was represented by Cushman & Wakefield’s Rob Lowe, Jeff Cushman, John Cushman, Peyton Horn and Paige Engeldrum. JLL’s Paul Glickman, Alex Chudnoff, Diana Biasotti and Ben Bass represented SL Green. 

“As the office of the future, One Madison continues to attract leading companies who see New York City as a magnet for talent, commerce, culture and the arts,” said Glickman. “A masterfully redeveloped tower, and one of the newest office spaces in the city, it solidifies Midtown South’s position as a distinctive hub for creative work and play and we anticipate continued interest from corporate leaders eager to locate here.”