BXP Sells 10.6% Stake in 343 Madison Avenue Development to AVRS Partners
Bitget2026/10/14 20:18- BXP closed the sale of a 10.6% equity interest in Manhattan’s 343 Madison Avenue development to AVRS Partners.
- The sale reduces its required equity commitment while preserving full development control; additional minority interests may be sold.
- The approximately $2 billion project is under construction, with completion expected in the third quarter of 2029.
- Pre-leasing stands at approximately 56%; executed letters of intent could lift that to approximately 70% if converted to leases.
- Project financing includes a $1.2 billion construction loan that closed in July 2026.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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