SL Green Partners With Japan’s Mori to Build NYC Office Tower

SL Green Realty Corp. is teaming up with Japanese developer Mori Building Co. to construct an office tower near Manhattan’s Grand Central Terminal.

The new building, at 346 Madison Ave., will stretch 46 stories and have about 850,000 square feet (79,000 square meters) of rentable space, according to a statement Wednesday. The architecture firm KPF is designing the property with terraces, a luxury wellness center with a padel court, an auditorium and tenant lounge.

Last year, SL Green paid $160 millionfor two adjoining buildings at the site that will be demolished to make way for the new tower. The ...