383 Madison AvenueNew York

In 1995, Bear Stearns engaged Hines to perform strategic planning of their future occupancy needs. In 1997, a commitment was made to develop the new Bear Stearns world headquarters on the full block at Madison Avenue and 47th St. The public approval process involved transferring development rights from Grand Central Terminal, construction of a variety of public improvements, an environmental impact statement, a full ULURP application and numerous variances. The program incorporated all the elements for Bear Stearns to function in one location, including up to 3,000 trading positions, 3,000 office positions, a cafeteria, executive floors and technology spaces. The building was designed to limit the possibility of business interruption through emergency power systems, uninterruptible power supplies, fuel oil and water reservoirs, and multiple locationally diverse utility feeds. Completed in 2002, the 43-story, 757-foot-tall structure is clad in light-colored Deer Isle granite, lightly tinted glass and silver-painted metal trim. An architectural glass crown is illuminated, highlighting one of Manhattan's tallest buildings.