The Olayan Group’s 550 Madison Named 2024 Urban Land Institute Americas Awards for Excellence Winner

The Urban Land Institute has announced that 550 Madison Avenue has been named a Winner of ULI’s 2024 Americas Awards for Excellence.

The ULI Americas Awards for Excellence program evaluates projects across a number of factors, including achievements in marketplace acceptance, design, planning, technology, amenities, economic impact, management, community engagement, innovation, and sustainability. As a ULI Americas Awards for Excellence Winner, 550 Madison automatically qualified as a finalist in the ULI Global Awards for Excellence with the winners of Awards for Excellence programs in the ULI Europe and ULI Asia Pacific regions. ULI selected only nine projects in the United States and one in Canada to advance to the Global Awards program, which is considered one of the most prestigious honors in the real estate industry.

“We are honored that ULI has recognized 550 Madison as one of the select few projects in North America and the only in New York to receive this distinction,” said Erik Horvat, Global Co-Head of Real Estate at The Olayan Group. “This award affirms The Olayan Group’s vision to reimagine an architectural icon with an extraordinary public garden and unparalleled sustainability and hospitality features.”

Designed by Philip Johnson and John Burgee, 550 Madison is globally recognized as a premiere example of postmodernist architecture. After opening in 1984, the iconic 41-story building housed the headquarters of just two tenants – AT&T and Sony – until it was acquired by The Olayan Group in 2016. The building proudly became New York City’s youngest landmark in 2018.

The Olayan Group has since transformed the property, located on Madison Avenue between 55th and 56th streets, into a world-class, multi-tenant new office destination, while maintaining its distinct architectural history. The repositioning project maintained the structure and envelope to minimize material use and to preserve the historic components of the original building.

The project team for 550 Madison’s redevelopment included Snøhetta, which designed The 550 Garden; The Rockwell Group, which designed the amenities spaces; and Gensler, which redesigned the lobby.