Posted Feb 6, 2025, 7:45 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,199
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https://www.crainsnewyork.com/real-e...c-review-march
350 Park Ave. skyscraper plan to kick off public review next month
JULIANNE CUBA
Feb 6, 2025
Quote:
Three existing buildings that make up the planned development site — a 30-story office tower at 350 Park Ave., a 23-story office building at 40 E. 52nd St. and a 5-story office building at 39 E. 51st St. — will be demolished to make way for the 62-story all-electric skyscraper that has long been in the works from Vornado Realty Trust, the development firm Rudin and hedge fund magnate Griffin.
Griffin's firms, Citadel and Citadel Securities, would be the tower's anchor tenants, occupying at least 850,000 square feet, documents show.
The Greater East Midtown rezoning, which was approved by the City Council in 2017 to encourage the development of modern office buildings, can be thanked in part for the origins of the project. Mayor Eric Adams celebrated its finally moving forward last April after years of anticipation. It's also able to get off the ground thanks to the air rights sold by two nearby landmarked churches, St. Patrick's Cathedral and St. Bartholomew's, which will receive a combined $150 million in return.
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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