10 Madison Square West Rendering Published

Finally! The first rendering of 10 Madison Square West is revealed. Developed by the Witkoff Group and designed by Alan Wanzenberg, the rendering shows several significant differences to the building’s current design. The windows on the sides appear to be larger, but the most obvious change is the addition of several floors. Originally, the building had 16 floors and, as previous plans disclosed, the rendering now shows six additional floors. A few years ago, when the development belonged to Tessler Development, plans showed an addition of eight stories.

Speaking of the former developer, 10 Madison Square West has transferred ownership quite a few times. Its recent history shows that it was sold by the Malkin family for $355 million to the Chetrit Group in 2005. Then, two years later, The Chetrit Group sold the building for $235 million to Tessler Developments, who planned to turn it into luxury condominiums. Shortly after that, Tessler ran into problems with Lehman Brothers, who had financed the development; eventually, Lehman Brothers held an auction for the building in 2011, which the Witkoff Group won for $191 million.

Ever since the Witkoff Group purchased the property, the development has proceeded according to plan. Elliman, the exclusive broker, just updated some of the info about the building showing the addition of a 10,000 square-foot private residents’ club for rest and relaxation which will include a state-of-the-art fitness center managed by “The Wright Fit.” Other amenities planned are a large 60-foot pool, a steam room, a yoga room, a spa, a children’s playroom, and private storage. Having Madison Square Park right across the street has to be considered another great amenity. The former developer, Tessler, once planned to include a basketball court and a bowling alley, but it seems that those plans were dropped.

Sales of the 125 condos will begin sometime late this spring. The apartments to be offered will range from one bedrooms to five bedrooms.