NEW YORK | 350 Park Avenue | 1,413 FT | 62 FLOORS

[NYguy]

Originally Posted by Zapatan

This has been the US as a whole recently, and sorry for my ignorance or if this is a silly question but does Citadel signing guarantee this will be built or do they need another tenant (or several)?

Citadel is a partner in the development, as well as the main tenant for the space. They have the opportunity to be the sole developer. But this is getting built. Citadel has already signed the lease for temporary space as the current buildings are demolished, and the new headquarters is built.

[streetscaper]

Originally Posted by Zapatan

1,350' is pretty ordinary in NYC these days, better this tops Central Park Tower as it's an excellent opportunity to do so and would suck if that opportunity were blown.

Exactly, we're just saying that it's quite possible we won't get the full height currently proposed and that is a large part of what's exciting about the proposal in its current form. Heights move up and down all the time when it's time to start construction. Maybe we'll get the full height currently proposed (fingers crossed) but it's not 100% guaranteed and we would lament if height was cut or if the design substantially changed is all we've been saying.

[NYguy]

Once a building is under construction, it is still subject to some revision in height, though mostly minor. This tower, in particular, still doesn't have a defined (final) height. It will be approximately 1,600 ft tall. But even at a significantly lesser height, it is much more than was proposed when Citadel became a tenant. 1,350 ft is nothing to laugh at, even in NYC. We have multiple supertall proposals that we would be ecstatic to have reach that height. And nobody should think any differrently.

Originally Posted by Sky88

https://www.bloomberg.com/news/artic...uverify%20wall

New tower and no spires!

Originally Posted by NYguy

More from the article….


https://www.bloomberg.com/news/artic...er-banner-year

Citadel Plots Out NYC Tower in Major Buildout After Banner Year
Ken Griffin’s empire will occupy more than half of the office space at a new Manhattan skyscraper at 350 Park Ave., which is expected to be completed in 2032.


By Amanda L Gordon and Natalie Wong+Follow
January 9, 2023


Ken Griffin’s Citadel, fresh off a banner year, is sketching out plans for a massive new Manhattan tower that will give his financial empire a concentrated New York footprint alongside Wall Street’s biggest firms.

Initial proposals call for a skyscraper that could rise to roughly 1,350 feet (411 meters) with 51 office floors and seven terraces, according to people familiar with the matter who asked not to be named discussing private information. Citadel will occupy about 54% of the office building, which will be designed by Foster + Partners, the firm founded by star architect Norman Foster. The tower is expected to be completed in 2032.

The tower’s height would make it among the tallest buildings in the city, on par with JPMorgan Chase & Co.’s new headquarters in Midtown that is under construction, as well as One Vanderbilt, a skyscraper near Grand Central Terminal. The latest potential addition to the skyline is a sign that for all of New York’s struggles after Covid, finance firms are committing to the city.

[NYguy]

March 1, 2025



Demo watch. Dramatic changes coming. Can't wait to see this building join 270 in the sky.

[NYguy]

https://therealdeal.com/magazine/mar...offices-again/

Suddenly, developer want to build trophy offices again
Corporate demand is pushing out green shoots in the market





By Rich Bockmann
MAR 3, 2025

The other big office project in the works is Vornado Realty Trust and Rudin’s 350 Park Avenue, which is anchored by Citadel.

Bill Rudin said he plans to break ground in 2026.

“We’re working on getting that through the zoning and we’re hoping that gets done by the end of the year, and then in ’26 we can start with demolition and getting that project moving,” he said. “I think with Citadel as a major tenant and partner we’ll be able to get that financing.”

[pianowizard]

175 Park Avenue is 1,575 ft and this one is 1,576 ft. 350 Park Avenue seems to be aiming for the highest roof in North America!

[NYguy]

Originally Posted by pianowizard

175 Park Avenue is 1,575 ft and this one is 1,576 ft. 350 Park Avenue seems to be aiming for the highest roof in North America!

Neither one of those are actual final heights. That’s why the news desk still has it as “too early and too close to call.”

175 Park is more recently at 1,580 ft, 350 still in flux. In fact, they are so similar in height that even during construction we won’t be certain, as things have a tendancy to shift just a bit. In this case, just a bit can make the difference.

They should have all the developers dress up as their towers as the battle for financing and tenants.

[NYguy]

https://www.reuters.com/markets/us/n...et-2025-03-07/

New York workers’ return to office ignites deal hopes in battered real estate market


By Saeed Azhar, Matt Tracy and Carolina Mandl
March 7, 2025

NEW BUILDING

When billionaire Ken Griffin decided to combine the offices for his hedge fund Citadel and market-maker Citadel Securities in midtown roughly three years ago, he could not find enough space. He decided to construct a new building instead, getting ahead of a wave of 5-day mandates that are filling up offices.

Griffin, alongside Vornado Realty Trust and Rudin Management, is developing a 62-story skyscraper at 350 Park Avenue with space for 6,000 people.

Citadel and Citadel Securities will serve as anchor tenants for the building, which is expected to be completed by 2032.

Employees at Griffin's firms will start moving to a temporary location next year so that the current building, a 30-floor structure from 1960, can be demolished.

[ChiND]

This tower is going to be incredible.

[NYguy]

The land-use application was filed today, so we are nearing the beginning of the 7 month ULURP process, which is mostly a formality since this tower will be utilizing the East Midtown Rezoning.

[ChiND]

The water features are shown in the rendering. They look pretty long.



Although the fountains are between the columns on the Park Avenue side, one gets an idea of how large they will be based upon this image of the columns on the 52nd Street side. The fountains are much bigger than the planters, and yet, the planters are huge.



Maybe, with some luck, they won't be mere pools but will have a bit of a cascading element like this fountain in DC:


tripadvisor

Or like this one on Lex.


Foursquare

[NYguy]

Another look at the plaza

[NYguy]

A little more on specifics...

[ChiND]

The “water features” are incredibly lame. I’d rather have flower beds than two mundane pools of water. However, this tower is incredible, and the plaza is otherwise spectacular, so I can deal with the boring pools.

[obemearg]

Interesting that the street level plan (and the renderings) show the planned widened Park Avenue median improvements. I wonder if the city is working with developers of new buildings along the avenue to fund those spaces?

[ChiND]

[QUOTE=obemearg;10389558]Interesting that the street level plan (and the renderings) show the planned widened Park Avenue median improvements. I wonder if the city is working with developers of new buildings along the avenue to fund those spaces?

/QUOTE]

I saw that too. I assumed that it was just Foster's vision.

[NYguy]

Originally Posted by obemearg

Interesting that the street level plan (and the renderings) show the planned widened Park Avenue median improvements. I wonder if the city is working with developers of new buildings along the avenue to fund those spaces?

That’s where the money for the improvements comes from. These companies and developers are paying into that fund in exchange for building these new towers.

[ChiND]

I’ve wanted to see this for years;

“Turning the Grand Central Viaduct around Grand Central Terminal into public space, creating a key link in a grand promenade beginning at the Pershing Square Plaza, and connecting to the
expanded Park Avenue malls.”

This vile piece of gritty asphalt could transform into a stunning park.


Alamy

[NYguy]

I wonder how much of this new "fin" treatment will continue up the building...

[NewYorkCity76]

https://nypost.com/2025/03/16/busine...g-nyc-skyline/

The clock starts ticking Monday to win city approval for Midtown’s most ambitious development project — a 1.8 million square-foot,1,600-foot tall tower at 350 Park Avenue, to be developed by a formidable triumvirate of public and private wealth.

The seven-month public review process known as ULURP begins on Monday for the team’s request for a relatively small increase in floor-to-area ratio, or FAR, which is a measure of a building’s size relative to the size of the land on which it stands, above what current East Midtown zoning allows.

Unlike dreams for some other supertall commercial towers that might or might not get built, 350 Park appears to be a sure thing.

It’s a joint venture of publicly traded Vornado Realty Trust, which owns the existing, unattractive Midcentury building at 350 Park Ave.; privately held Rudin, which owns adjacent and equally unattractive 40 E. 52nd St.; and mega-billionaire investor Ken Griffin. Citadel and Citadel Securities, separate companies that Griffin leads, will be the skyscraper’s anchor tenants with at least 850,000 square feet.

The new tower design boasts a series of stepped setbacks on its east-facing side. The tapered form will allow optimum light and views on office floors. Some tenants will have access to private outdoor terraces.

Foster + Partners senior executive partner Nigel Dancey said, “We got to know Ken at 425 Park Ave. [which his firm also designed and where Citadel has a large space.] He’s kind of a perfectionist about beautifully laid-out floor plates.”

Dancey said 350 Park will provide “great diagonal views. We moved the core elevators to the west to create large floor plates on the avenue side.”

The ULURP process begins with an advisory-only 60-day review by Manhattan Community Board 5. The plan then goes to the Manhattan borough president, the City Planning Commission, the City Council, with final approval by the mayor.