Key facts
- SL Green will begin demolition in the third quarter.
- Demolition will occur at 346 Madison Ave. and 11 E. 44th St.
- Construction of a new 46-story tower is slated to begin in the fall.
SL Green's planned 46-story tower project signifies new development in Manhattan's commercial real estate sector. The demolition phase is a precursor to construction, indicating ongoing investment in office space despite broader market concerns about vacancy rates.