NEW YORK | 625 Madison Ave | ~800 FT | 34 FLOORS

[Zapatan]

That's an exciting prospect, they should try to top Central Park Tower.

[ChiND]

The Saudis should partner with RXR on 175 Park.

[Sky88]

È una prospettiva entusiasmante, dovrebbero provare a superare la Central Park Tower.

It would be interesting but even a 1,400ft tower could be good. I hope that in the future the Saudi fund can build a 2,000ft mixed-use tower.

I sauditi dovrebbero collaborare con RXR per il 175 Park.

They could, but I don't think they're interested...

[DCReid]

Originally Posted by Zapatan

That's an exciting prospect, they should try to top Central Park Tower.

Give what looks like the size of the lot, I am glad that they plan something as tall of 1200 feet. It could have been a squat 700-800 box, and I am glad it apparently will not be.

[NYguy]

Originally Posted by Sky88

The idea of ​​a mixed-use tower, hotel + office class AA, could increase the height of the tower.

Looks like it’s a case of either, or.

Originally Posted by DCReid

Give what looks like the size of the lot, I am glad that they plan something as tall of 1200 feet. It could have been a squat 700-800 box, and I am glad it apparently will not be.

If they decide to do office, it will be a boutique office building among the likes of 425 Park Avenue. This is a very expensive submarket that plays well to all options - retail, residential, hotel, and office. The office is tempting, because it would be a rare ground up new office building, even more rare in that corner of Manhattan than the city as a whole, which is seeing relatively nothing. They’re not working with a lot of space here, so if they combined all, it would have to be extremely small, boutique office floors like you see at 520 5th Avenue. By the way, this site was home to Related for a long time, so it’s not surprising they see it as a good fit.

[ChiND]

It would be a real shame to go from 1,200 feet to 700/800 feet. Not to mention, an office tower here would probably be no more exciting than what Related is building at 70 HY.

[NYguy]

Originally Posted by ChiND

It would be a real shame to go from 1,200 feet to 700/800 feet. Not to mention, an office tower here would probably be no more exciting than what Related is building at 70 HY.

Well, they aren't building to satisfy skyscraper nerds, that's for sure.

[Zapatan]

Man, I thought this was good news at first, I really hope they don't blow this opportunity and go that low.

I know it's a small lot but a site like this next to Central Park is gold.

[NYguy]

Originally Posted by Zapatan

Man, I thought this was good news at first, I really hope they don't blow this opportunity and go that low.

I know it's a small lot but a site like this next to Central Park is gold.

They're not going to "blow the opportunity" as far as they are concerned. That are going to build what they think will be the best use of that property. Again, skyscraper nerds may be disappointed, but that's not why they're in business or have managed to stay in business all these years.

[NYguy]

https://propmodo.com/why-gulf-investors-are-buying-back-into-new-york/

Why Gulf Investors Are Buying Back Into New York

By Franco Faraudo
Jul. 7, 2025

Saudi Arabia’s Public Investment Fund (PIF) is getting deeper into New York’s concrete sandbox, taking a majority stake in a pricey Midtown site alongside Related Companies. The partners plan to replace the current 17-story structure at 625 Madison Avenue with something nearly three times as tall, a shimmering 1,200-foot tower just a block from Central Park.

The Public Investment Fund has already poured over $200 million into the project and is now reportedly footing most of the development bill, which could exceed a billion dollars. That’s a lot of petrodollars banking on the rebound of high-end office real estate in a city still reckoning with its post-pandemic identity.

The deal is just the latest example of a foreign capital comeback in Manhattan, particularly from the Gulf. After retreating during COVID, overseas investors are back in a big way. Commercial real estate purchases by foreign entities in NYC have jumped fivefold since 2022. The motivations range from portfolio diversification to dollar-denominated safety nets, but it’s also about prestige. And few addresses come with as much real estate swagger as a trophy tower on Madison Avenue.

For the PIF, this is part of a broader global shopping spree aimed at turning oil profits into real assets—fashion houses, hotels, soccer clubs, and now Manhattan skyscrapers. Their partnership with Related began quietly in 2020 and seems to be evolving into something more ambitious. Whether or not this project pencils out is almost beside the point. This kind of investment is as much about global influence as it is about IRR (or in this case, maybe NOI). And New York, with all its flaws, still holds the title of being the most sought-after American real estate for foreign investors.

[Zapatan]

Originally Posted by NYguy

Looks like it’s a case of either, or.

Are you referring to this?

“625 Madison is a truly exceptional site with many possibilities, from mixed-use luxury residential, hotel and retail, to class AA office headquarters,” she said. “It’s the heart of luxury corridor and will have iconic Central Park views. We’re very excited about it.”

I interpret that as one or the other but maybe they're just throwing out options and office could still be added to the mixed use tower.

Again, skyscraper nerds may be disappointed, but that's not why they're in business or have managed to stay in business all these years.

It would be nice if some multi-billionaire somewhere cared about making skyscraper nerds happy.

I was thinking this could be NY's next 400 meter tower but that seems less likely now.

[Crawford]

I don't care about specific usage, as long as tall and architecturally significant. Really any use would work here.

[Busy Bee]

Self Storage

[NYguy]

Originally Posted by Zapatan

It would be nice if some multi-billionaire somewhere cared about making skyscraper nerds happy.

I was thinking this could be NY's next 400 meter tower but that seems less likely now.

Sadly, that’s not why these mult-billion dollar investments get built. At least not in New York. But certainly, no one in New York can complain about watching supertall skyscrapers getting built. This may or may not be one. And the world turns.



https://www.arabianbusiness.com/industri...wo-thirds-stake-in-prime-manhattan-tower

PIF reportedly looking at two-thirds stake in prime Manhattan tower
The 1,200-foot tower, being developed by Related Company, is at 625 Madison Avenue, located just one block away from the Central Park


Joy Chakravarty
July 8, 2025

Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, is reportedly planning to take up to two-thirds stake in Related Company’s 1,200-foot tower at 625 Madison Avenue site in midtown Manhattan.

[NYguy]

https://www.related.com/our-company/properties/625-madison-avenue

[NYguy]

https://commercialobserver.com/2025/07/related-mulls-840k-sf-office-625-madison-saudi-infusion/

Related Mulls 840K SF of Office at 625 Madison After Saudi Infusion
Other possibilities include hotel rooms, retail and luxury residential


By Larry Getlen
July 8, 2025

Related Companies’ planned skyscraper at 625 Madison Avenue just landed significant additional investment, with Saudi Arabia’s Public Investment Fund taking a two-thirds stake in the project, according to the Wall Street Journal.

The developer previously announced plans for a 1,200-foot tower at the site.

While its ultimate use has yet to be finalized, Related is considering developing the building into 840,000 square feet of trophy office, according to a source with knowledge of Related’s plans. Other possibilities include luxury residences as well as a hotel and retail.

Related has a long history with the site, having first bought the 535,000-square-foot office building there in 1986, and occupying it as the company’s headquarters until selling the building to SL Green in 2004 for $231.5 million.

Related bought the building back from SL Green in May 2024 for $632.5 million — $1,123 a square foot — and began demolishing the existing building later that year.

[Zapatan]

Seems like either or and that they'll probably go office, but what would be the reason for not combining office with the other uses?

Given the size of the site and the SQF I'm guessing we'll get an 8-900 foot tower at most if we're lucky. I sure hope the design is cool.

[Crawford]

Whatever they build, they will have to go very tall to avoid the GM Building, which blocks views of the park. I cannot imagine they would build something without caring about Central Park views.

My guess is this will be an extremely tall building, more in line with 432 Park.

[ChiND]

Originally Posted by Crawford

Whatever they build, they will have to go very tall to avoid the GM Building, which blocks views of the park. I cannot imagine they would build something without caring about Central Park views.

My guess is this will be an extremely tall building, more in line with 432 Park.

I agree. Although I'd generally expect only about 800' for an office building with this square footage, they keep emphasizing the lack of height restrictions; thus, I can envision a 1,000' office tower. Further, I assume that their tenants will be "smallish," boutique-sized floor plates geared at hedge funds and elite, boutique law firms.

We should know soon if Soloviev is building office or resi/hotel on 57th.

[NYguy]

Originally Posted by Zapatan

Seems like either or and that they'll probably go office, but what would be the reason for not combining office with the other uses?

Given the size of the site and the SQF I'm guessing we'll get an 8-900 foot tower at most if we're lucky. I sure hope the design is cool.

If they’re going to go office, they’re going to have to go considerably large to make it worthwhile. There’s already a limited amount of floorspace. There’s about a half million sq ft to work with, which grows to about 750,000 in total for the residential/ hotel mix. I’m assuming the office total includes mechanical space as well. There have been a number of luxury brands that have been seeking both office and retail space in the area. That could also be a factor.

Whatever the case, they’ve got the Saudi money, and the Saudi’s have 2/3 of this development. I expect something nice.