925K-s/f Mixed-Use Development Planned for Site of Former Madison Ave MTA Headquarters

Developer Boston Properties has submitted applications with the City Planning Commission for a proposed 925,000-square-foot mixed-use commercial, office and retail development that could reach a linear height of 1,050-feet. If zoning changes are granted, new construction will spread across the site of the MTA’s old headquarters at 341-347 Madison Avenue, along with a trio of adjacent MTA-owned lots. Boston Properties controls the site under a 99-year ground lease; and it’s projected that the deal “could generate more than $1 billion in revenue for the MTA” over the term of the lease.

Source:    https://therealdeal.com/2021/04/15/boston-properties-moves-forward-with-teardown-of-ex-mta-hq/