550 Madison is achieving rents north of $200 per square foot — a figure that reflects both its Midtown location and the capital invested in a full renovation completed in 2024. Built in 1984, the building is notable for its distinctive stone facade, uncommon among Manhattan office towers, and was landmarked in 2018, making it the city's most recently designated landmark. That combination — protected architecture, a top-tier Plaza District address, and a modernized interior — positions 550 Madison in a narrow category of buildings where tenants are paying for scarcity as much as square footage. The renovation brought the asset current without erasing what made it worth preserving. At $200-plus per foot, the market is clearly endorsing that approach.

Trophy is a branding and marketing agency for NYC office buildings. We work with landlords and ownership groups to build the leasing brand — the positioning, the visual identity, the story that makes a building worth what it's asking. $100 Foot Club is Or's field notes on the buildings already there. trophy.inc

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Welcome to the $100 Foot Club, the series where we check out New York's top office buildings.

I'm Or Lev-Cohen, founder of Trophy.

And the building behind me is actually the city's youngest landmark.

Landmarked in 2018.

I'm talking about 550 Madison.

Built 1984, renovated recently, 2024.

Thanks to the great location and the investment made in the building,

they've been able to achieve rents of over $200 per foot,

which lands them in our prestigious club.

So 550 Madison, a beautiful one with the stone facade,

pretty unique for office buildings in the city.

So this is the $100 Foot Club, and I'll see you on the next one.