383 Madison Avenue in Midtown Manhattan, New York City
This site is about the location and address of the landmark building at 383 Madison Avenuein New York City.
383 Madison Avenue: The Heart of Midtown Manhattan
The Bear Stearns Building is situated at 383 Madison Avenue in New York City and is so large that it takes a full city block. It is set in among Madison and Vanderbilt Avenues and 47th and 48th Streets. Conveniently placed in Midtown Manhattan, the building is just one block west of well-known Park Avenue and in adjacent to the western side of the famous Rockefeller Center.
A 72-story tower was suggested for the 383 Madison Avenue location in the 1980s but because of to restricted air space, the structure was denied. In the year 2000 developers Sterling Equities & Hines Interests commissioned architect David Childs (Skidmore, Owings & Merrill LLP) to create what would become the 88th highest building in the world for Bear Stearns & Company.
383 Madison Avenue was officially completed in 2001 but the official ceremony and grand opening of 383 Madison Avenue (better known as the Bear Stearns Building) did not occur until 2002. But 383 Madison Avenue was not just designed to be one of the tallest skyscrapers in New York; the structure’s design was meant primarily to minimize disruptions caused by large-scale oil and water reservoirs as well as to provide an uninterrupted power supply and secondary emergency energy infrastructures. These unique properties of 383 Madison Avenue helped it acquire the New York Construction Award of Merit in 2001 and the BOMA Award in both 2002 and 2003.
383 Madison Avenue: Unique Architectural Design
The tower at 383 Madison Avenue in New York City was built in the “post modern” architectural style; the octagonal-shaped tower is positioned on a rectangular base and rises 757 feet into the air. But the most prevalent feature of the building is the 70 foot, seven story octagonal glass peak that is highlighted against the New York City skyline.
Like most skyscrapers, 383 Madison Avenue is made of steel to resist both the elements and natural disasters. The exterior of the steel is clad in “Deer Island” granite and features oversized tinted glass windows with chrome colored metallic trim.
The interior of 383 Madison Avenue showcases 47 floors and has a full surface area of 1,200,000 square feet. When 383 Madison Avenue originally opened, it was the world headquarters for Bear Stearns’ trading operations, strategically located on the top six floors of the eight story rectangular base. Each trading floor housed nearly 420 traders on a day-to-day basis and covered approximately 42,000 square feet. The Bear Stearns Building at 383 Madison Avenue also features a one-of-a-kind interior layout and style. An average office has 12 foot tall ceilings while 383 Madison Avenue has an open concept with the octagon column mirroring several tall trading floors.
383 Madison Avenue: Current Ownership
In 2008 JP Morgan Chase took over ownership of the tower at 383 Madison Avenue from the Bear Stearns Company. It is no longer referred to as the Bear Stearns Building, but now typically known to New Yorkers as New York City’s lighthouse because when lit up the seven story glass crown shines like a beacon in the night.