Нью-Йорк қаласындағы 383 Мэдисон авеню кеңсесі

Office skyscraper in Manhattan, New York

383 Madison Avenue, formerly known as the Bear Stearns Building, is a 230.12 m, 47 story skyscraper in the Midtown Manhattan neighborhood of New York City, New York, U. S. Built in 2002 for financial services firm Bear Stearns, it was designed by architect David Childs of Skidmore, Owings & Merrill (SOM). It housed Bear Stearns's world headquarters until 2008, when Bear collapsed and was sold to JPMorgan Chase. Since then, JPMorgan's investment banking division has occupied the building. 383 Madison Avenue occupies an entire city block bounded by Madison Avenue, 47th Street, Vanderbilt Avenue and 46th Street. The eastern two thirds of the building is erected over two stories of tracks leading to the nearby Grand Central Terminal. Above the rectangular base, there are several setbacks tapering to an octagonal tower. The facade is made of granite with glass panels, and the tower is topped by a 21.34 m glass crown. To accommodate the railroad tracks under the site, the foundation and superstructure contain large sloped girders and trusses, and the elevators are placed on the west side of the building. The ground story also contains public spaces and an entrance to Grand Central Terminal. Above are seven trading floors, as well as office stories. The building has a usable floor area of ; including mechanical spaces, its total floor area is
G. Ware Travelstead, First Boston, and the al Babtain family acquired the site in 1982 and tried to develop a building with more than 70 stories. That plan stalled after Travelstead could not acquire the required air rights from Grand Central Terminal. HRO International then proposed redeveloping the site, but al Babtain acquired full ownership in 1995 before HRO could obtain the lot. Bear Stearns agreed to develop the site in 1997 after several potential tenants declined to lease space there. Work started in 1999 and was completed in early 2002. When demolition of JPMorgan Chase's world headquarters at 270 Park Avenue commenced in 2019, the bank's headquarters was temporarily relocated to 383 Madison Avenue, pending the completion of the JPMorgan Chase Tower on the Park Avenue site.

383 Madison Avenue is in the Midtown Manhattan neighborhood of New York City. It occupies an entire city block bounded by Madison Avenue to the west, 47th Street to the north, Vanderbilt Avenue to the east, and 46th Street to the south. The land lot covers about with a frontage of 61.21 m on either avenue and 65.74 m on either street. Among the developments were office buildings such as the Chanin Building, Bowery Savings Bank Building, and New York Central Building, as well as hotels like the Biltmore, Commodore, Waldorf Astoria, and Summit. By 1920, the area had become what The New York Times called "a great civic centre". Largely commercial International Style skyscrapers replaced many of the residential structures on Park Avenue during the 1950s and 1960s.

The original building at 383 Madison Avenue was the Knapp Building, an office structure designed by Cross & Cross and built in 1923 for real estate firm Webb & Knapp. The limestone structure was 14 stories tall and contained The northern half of the building was erected first; it was quickly rented, prompting Webb and Knapp to build the southern half in the same style. The Knapp Building then served as the headquarters of the Manhattan Savings Bank. By the 1980s, the building also contained offices for advertising firm BBDO and CBS Educational and Professional Publishing. The building occupied the entire block. The roof of the Knapp Building contained a modernist two story penthouse designed by I. M. Pei and William Lescaze in 1952. The penthouse's reception area alone occupied about one third of the lower level. This penthouse included a 7.62 m circular office on the lower level, used by William Zeckendorf of Webb & Knapp. Zeckendorf's office was covered in oak panels, and there was a private terrace adjacent to it. On the upper level was a circular dining room accessed by a circular elevator and a rounded staircase. Turner Construction was the general contractor; Jaros, Baum & Bolles and Robert Derector Associates were the main engineers, and Cantor Seinuk was the structural engineer.

The building consists of an octagonal tower rising out of a rectangular base. The lowest nine stories occupy the entire site, measuring Above a setback on the ninth story, the cross section of the 10th and 11th stories is rectangular, measuring There is a further setback at the 12th story, where the building shrinks to an octagon measuring This design maximized the size of the perimeter wall, and it created eight corners for private offices on each story. The glass crown consists of panels, which can also reflect sunlight during the daytime.

About two thirds of the building's foundation sits above two levels of Metro North Railroad tracks just north of Grand Central Terminal, rather than being attached to the bedrock itself. The columns of the building's substructure had to be arranged to avoid the tracks, which descended as much as 15.24 m beneath ground level. There is also a utility tunnel 4.57 m below the lower track level, which was built in the early 20th century, with unreinforced concrete walls measuring thick. The footing subgrade has a bearing capacity of To compensate for the offset core, the building's eastern elevation contains a Vierendeel truss with columns spaced every 3.05 m.

Above the double height lobby are two trusses, each measuring 25.91 m long. These trusses support all of the upper floors while allowing the lobby to be designed as a column free space. At ground level, the building contains storefronts, with columns at each corner. Above the ground level, the corners of the building contain executive offices without any columns at the corners. This required the installation of slanted girders at each corner, as well as spandrel beams that connect opposing corners. The trading floors, which are immediately above the lobby and storefronts, contain fewer columns than usual, requiring that the upper stories be supported by complex trusses. HVAC and mechanical equipment are placed on several intermediate stories, since there is not enough room in the basement. The building was designed to run for four days without exterior power through four emergency electrical generators, its own steam turbines, and tanks that can store of emergency water. About 26 percent of the building is mechanical space, which does not count toward FAR calculations. Under normal zoning regulations, the maximum FAR for any building on the tower's site was 15, but the developers received two bonuses of 20 percent each, bringing the FAR to 21.6. The developers had to include privately owned public space at the building's base for the first bonus, and they built a transit entrance for the second bonus. Work on this entrance began in 1997 as part of the Grand Central North passageway system, which was completed in 1999. The Grand Central North entrance covers 215.49 m. Before the mosaic panel was reinstalled in the Bear Stearns Building, it was restored and cleaned, and new mosaic pieces were fabricated to replace broken pieces. A new white background measuring was created and installed behind the skyline.

When it opened, the building contained 23 elevators; Each story also has three electrical closets and two telecom rooms. Manhattan Savings Bank was also looking to sell the Knapp Building at 383 Madison Avenue in the early 1980s. Developer G. Ware Travelstead, who led First Boston Real Estate, acquired the old building from Manhattan Savings Bank in October 1982 for $77.75 million. Travelstead and First Boston were joined by a Saudi partner, the al Babtain family. By 1984, Travelstead planned to build a shorter tower of 50 to 70 stories, saying: "It's not clear to me that anybody wants to pay an $8, $10 or $12 premium to be in a very tall building." Subsequently, Travelstead hired Kohn Pedersen Fox (KPF) to redesign the project. KPF created new plans for the building with assistance from structural engineer William LeMessurier. Travelstead proposed a tower of about 70 stories and over The building would have been one of the tallest in New York City;Efn|If the building had been 1,040 feet tall or less, it would have been the fifth tallest behind the Twin Towers, Empire State Building, and Chrysler Building. To blend in with nearby buildings, the lower stories would have contained a granite facade, while the upper stories would have been made of metal and glass. Architecture writer Ada Louise Huxtable derided it as "a ski slide tower of Brobdignagian scale and bulk in what might be called Mesopotamian Motorola style".

By 1986, Travelstead planned to start work on its tower the next year. The site was only zoned for and Travelstead needed to purchase of air rights from Grand Central Terminal to attain his desired square footage. Without a zoning subdistrict across which air rights could be distributed, the terminal's air rights could typically only be transferred to adjacent sites with one exception. Penn Central could transfer air rights from Grand Central through adjacent buildings that it also owned, thus forming a "chain of ownership". Such a chain between Grand Central and 383 Madison Avenue no longer existed aboveground, since Penn Central had sold off the Biltmore and Roosevelt hotels, which would have connected the two sites. Travelstead submitted a special permit application and a draft environmental impact statement to the city government in 1986, but the city did not take any action on the matter for two years. Though Travelstead left First Boston in 1988, he continued to be involved in the project. A six month public review process for the planned building began in April 1989. Following the Community Board's opposition, the New York City Planning Commission (CPC) also disapproved of the transfer that August. Travelstead then sued the city in the State Supreme Court. By late 1990, the Metropolitan Transportation Authority (MTA) sought to buy Grand Central and build 383 Madison on First Boston's behalf, as MTA officials believed the agency could qualify for a zoning exemption. Under that plan, the MTA would have built a driveway in the tower's base, connecting to a new truck loading dock within Grand Central. Meanwhile, the CPC had suggested creating a zoning subdistrict in November 1989, wherein Grand Central's of air rights could be transferred to any building in the district. In 1991, the CPC issued a report on the proposed Grand Central Subdistrict, which would allow Penn Central to transfer air rights to any building in a seven block area. Among those sites was 383 Madison Avenue, where Travelstead had to finalize his purchase of the air rights within a year of his State Supreme Court lawsuit being decided. When the district was created that year, it covered 22 blocks. After the Supreme Court upheld the city's decision to deny the air rights transfer in 1991, Travelstead appealed the decision. First Boston removed Travelstead from the project in 1992, HRO planned a 24 story, $200 million building named Park Avenue Place, with of space. The New York Times characterized the new plans as a symbol of the city's economic recovery. HRO intended for the building to be a speculative development. Ronson reportedly discussed with J. P. Morgan & Co. (a predecessor to JPMorgan Chase) and Swiss Re about anchoring the building. After half of the building was pre leased, Ronson planned to apply for a $100 million construction loan. Ronson sought to charge rents of , but many prospective tenants balked at the high prices. at the time, the tower was to be completed in 1996. HRO had intended to start clearing the site in 1995, after taking control. Ronson disputed the sale, claiming that he had already spent $8 to $10 million on the site. Bear Stearns CEO James Cayne had bought an option for $10 million worth of air rights from the site, leading the al Babtains' lawyers to accuse Cayne of tortious interference. Afterward, Bear Stearns negotiated for space at another building instead. Ronson hoped to attract Morgan Guaranty to 383 Madison, but the company indicated in mid 1996 that it was no longer considering that site. Chase Bank, another predecessor of JPMorgan Chase, entered negotiations with the al Babtain family in October 1996, hoping to develop a new tower next to its existing headquarters at 270 Park Avenue. Chase Bank ultimately canceled its plans in April 1997, Despite this, observers expected that the planned building's proximity to Grand Central would attract a tenant before the end of the year.

By mid 1997, Bear Stearns was again negotiating for the site with the al Babtain family. That August, the bank agreed to develop a new headquarters at 383 Madison Avenue. In exchange, the mayoral administration of Rudy Giuliani agreed to give Bear Stearns up to $75 million in sales tax exemptions, on the condition that Bear Stearns maintain 5,800 employees and create 13,300 new jobs in New York City over the next fifty years. The bank planned to move its headquarters and most of its 4,500 employees to the new building. The developers acquired of air rights from Grand Central; although Hines Interests ended up managing the development process. The demolition of the old Knapp Building began in May 1998, with the old Manhattan Savings Bank mosaics being removed from that building's facade for preservation. Bear Stearns would control the building for the duration of the lease. Later the same year, a construction worker was killed when he was struck in the head by debris. By mid 1999, the building's structural steel was being constructed, and the building was planned to be complete in 2002. In mid 2001, before the September 11 attacks, the bank reinstalled one of the Manhattan Savings Bank mosaics in its lobby. Despite the attacks, Bear Stearns began moving employees into the new building in October 2001. The crown was first illuminated on April 4, 2002, at a ceremony attended by Cayne, U. S. senator Chuck Schumer, and New York governor George Pataki. At the time, the building had 4,200 employees. As a tax avoidance measure, the bank held a synthetic lease on the building, which was worth $570 million.

Four of the seven trading floors were in operation when the building opened, Due to security concerns following the attacks, Bear Stearns initially prohibited visitors from going to the upper floors unless they were accompanied by an employee. Cayne had liked the building's location because he could walk to it from his apartment 13 blocks away. Following the hedge funds' collapse, Bear Stearns faced sudden bankruptcy in March 2008 during the financial crisis of 2007–2008. JPMorgan Chase initially offered to buy Bear Stearns $2 a share, which would have valued the latter at $250 million. Real estate experts estimated the building's value at $1.1 to $1.4 billion, Rather than sell 383 Madison Avenue, JPMorgan Chase planned to move its investment division there. The bank immediately started replacing Bear Stearns signage with a logo that resembled J. P. Morgan & Co., its predecessor investment bank. This allowed JPMorgan Chase to reduce the space it occupied at other buildings. By 2014, JPMorgan Chase was looking to develop a new corporate campus in the Hudson Yards development, relocating from 270 Park and 383 Madison. The bank dropped its plans after failing to secure tax exemptions from the city and state governments. In 2016, SL Green Realty proposed that JPMorgan Chase swap 270 Park and 383 Madison with One Vanderbilt, a skyscraper that SL Green was constructing five blocks south. Though JPMorgan Chase considered the proposal, the two firms never entered into formal negotiations. In February 2018, JPMorgan Chase announced it would demolish 270 Park to make way for the JPMorgan Chase Tower on the same site, which would be almost twice as tall. During the project, JPMorgan moved its headquarters temporarily to 383 Madison Avenue. Deconstruction of 270 Park was completed in mid 2021, and as of 2022 the new building was estimated to be completed in 2025.

The building's design generally received mixed to negative reviews. Joseph Giovannini of New York said, "This is a building you wouldn't want to get anywhere near at a cocktail party. Dressed nearly head to toe in dour granite, and geometrically proper, it's stiff to the point of pass out boredom." Giovannini summarized he building as being "lugubrious" and "predictable". In 2010, the New York Daily News ranked 383 Madison as one of New York City's ten ugliest buildings.