The Metropolitan Transportation Authority (MTA) has partnered with BXP, an office developer, owner and manager, to work on a new accessible street entrance to the Long Island Rail Road (LIRR) Grand Central Madison Concourse at 45th St. and Madison Avenue. The entrance is part of a public-private partnership in which BXP will work to redevelop the site, which has housed the MTA’s headquarters building from 1979 to 2014. The MTA retains underlying ownership of the land and BXP has agreed to build the entrance in advance of its anticipated office building to prioritize public access and benefit.
The redevelopment plan, which was made possible through the Midtown East Rezoning that was designed to yield transit improvements, is expected to generate more than $1 billion in ground rent revenues, along with real estate taxes, to be dedicated to the MTA capital program.
The new entrance, expected to be completed in 18 months, will provide daily riders using the Grand Central Madison another entry point to the LIRR’s terminal. MTA Metro-North riders will also be able to access Grand Central Terminal via this street entrance through the concourse of Grand Central Madison. While construction is underway, BXP is marketing the proposed approximately 950,000 square foot premier Class A office building to rise above the entrance.
“Before beginning construction of a massive new office tower, BXP is getting started on a new accessible entrance,” said MTA Chair and CEO Janno Lieber. “When the MTA moved downtown, we opened up a site for private sector development in what is the largest and densest concentration of high value-added jobs in the United States and now we have the ultimate in transit access because we have all of the MTA facilities coming right to Grand Central. This redevelopment would not have been possible without the East Midtown Rezoning. Over time, the revenue will support the MTA capital program and some of it will go to the city of New York – that’s the sharing of transit-oriented development and we are hoping this becomes more of the norm.”
"The new terminal access will create a more seamless experience for thousands of commuters and residents every single day, underscoring our commitment to enhance the quality of life in Midtown Manhattan," said Hilary Spann, executive vice president, New York region, BXP. "Our vision to revitalize the district is in motion and we're in constant talks with the city and MTA about future development plans for the site."
In 2020, BXP was selected to redevelop the MTA's former headquarters site on Madison Avenue and demolition began in February 2021 to begin construction of the entrance.
Grand Central Madison’s LIRR Concourse has five direct entrances to the street – at 42nd St. and 43rd St. through One Vanderbilt, at 47th St. inside 383 Madison Ave. and two elevator-only entrances in freestanding buildings built by the MTA at 44th St. and 48th St. Two other direct street entrances are planned north of 47th St.
Additionally, Grand Central Madison connects directly to MTA’s Metro-North’s east-west underground passageways at 47th St. and 45th St., which offer entrances at Park Avenue and 48th St. and on 47th St. between Park and Lexington Avenues, as well as inside the Helmsley Walk located in Park Avenue between 45th and 46th St.
