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

[SamLYNY]

Originally Posted by NYguy

I'd like to see someone put a render of 350 Park in this photo.

Along the same lines..:

Originally Posted by SamLYNY

Hunters Point, today.

The photo I added in this▲ post reminded me of this▼ similar photo from back in September this year, which would also greatly benefit from the addition of 350 Park. Such an amazing view from this part of town - and it'll only get better.


Source - Google Imagery

As a side note, there's something about the color and quality of this photo that makes it look much older, despite it being only a few months old. I think there's something so interesting about seeing the huge, super modern supertalls of Midtown in a photo that looks straight outta 2008.

Maybe I'll try and add it in.

[ChiND]

You have to love these guys! They’re very New York!

“We don’t enter a business just to make a little money. We enter a business to be number one. Every single time,” said Matt Culek, Citadel Securities’ chief operating officer.

https://www.ft.com/content/b7ae023f-...7-f6f53096a26d

[NYguy]

https://finance.yahoo.com/news/q3-20...091609860.html

Q3 2024 Vornado Realty Trust and Alexander's Inc Earnings Call


November 6, 2024

Steven Roth

Regarding our 350 Park Avenue site, arguably the very best site on Park Avenue. We are well along with the Norman Forster architectural firm and completing the design of 1.8 million square foot tower. And we will build with Citadel, who will be our major tenant and with Ken Griffin as our partner.

At PENN15, the former Hotel Penn site, at 33rd Street at 7th Avenue, directly across the PENN2 is now down to grade and ready for development. I believe this site in the heart of our Penn District and directly connected to best station. It's the single best site available in booming west side and Manhattan.

[ChiND]

God bless Ken Griffen!

This tower is going to be an iconic addition to the Financial Capital of the World!


Commercial observer.com

[NYguy]

https://www.bisnow.com/new-york/news...penn-11-127033


December 3, 2024
Ciara Long

Fidelity Investments is moving to 24K SF at 320 Park Ave., which Mutual of America Financial Group and Munich Re own, Commercial Observer reported.

Fidelity is moving out of 350 Park Ave., which Vornado and Rudin are preparing to tear down and replace with a supertall office in a joint venture with Citadel CEO Ken Griffin.

Fidelity will occupy both retail and office space in the 34-story office tower at 320 Park, split between 20K SF of office space and almost 4K SF of retail. It will join a tenant roster that includes Flagstar Bank and Mutual of America.

[ChiND]

In the inimitable words of Tammy Fae Baker: “P.T.L.!!!”

[MAC123]

Originally Posted by NYguy

https://www.bisnow.com/new-york/news...penn-11-127033


December 3, 2024
Ciara Long

New Fidelity tower in the future maybe? Not necessarily that site tho

[NYguy]

Originally Posted by MAC123

New Fidelity tower in the future maybe? Not necessarily that site tho

Maybe a move back to 350 Park when it’s built.

[SamLYNY]

This tower has the potential to be hugely impactful... here's a rough illustration of how it might affect the Park Ave sightline - and with 175 Park and 625 Madison as potential future siblings, the sky above this stretch of town is about to get a lot busier.

My fingers are firmly crossed for this one.



Image source , inspired by recent posts in the 270 Park thread

[NYguy]

Originally Posted by SamLYNY

My fingers are firmly crossed for this one.

No need. This one we know is getting built. The approval process - which is a formality for these Midtown East proposals - is to begin next year. Citadel also will vacate 350 and move to the newly renovated 660 5th next year. Demolition can't begin until then, but once it does, its basically a "watch it come down and watch it go up" process.

[MAC123]

Of all towers this one is basically guaranteed to be built. walking from central park to GC in a couple years is going to be insane. 175 Park, One Vanderbilt, 270 Park Avenue, 350 Park Avenue, 432 Park Avenue, 625 Madison, not to mention the countless sites where other monsters could rise.

[SamLYNY]

Originally Posted by NYguy

No need. This one we know is getting built.

Ah, yes—I more meant my fingers are crossed for the current proposal as far as design and height go...it's my favorite out of the three we've seen so far. As you've said, the first cogs for this started turning a while back.

I'm not sure how likely things are to change, as I'm not super clued in on this one. For those who might know more, how likely is it that we see a design change or height reduction before plans are finalized and demo/construction starts? Or is that more of a 'we'll see what happens when it happens ' type of question? My guess is that we'll probably see some minor changes—as is the case usually.

Either way, the potential to see this and 175 Park rise together is awesome, we need some bulky towers to break through the current Midtown canopy. As for trends in office space—especially in this part of town—what we're seeing in terms of demand and occupancy for 'premium' office space makes me think we'll see more projects like this one further down the line. Mary Ann Tighe is certainly speaking some truth.

[NYguy]

Originally Posted by SamLYNY

Ah, yes—I more meant my fingers are crossed for the current proposal as far as design and height go...it's my favorite out of the three we've seen so far. As you've said, the first cogs for this started turning a while back.

I'm not sure how likely things are to change, as I'm not super clued in on this one. For those who might know more, how likely is it that we see a design change or height reduction before plans are finalized and demo/construction starts? Or is that more of a 'we'll see what happens when it happens ' type of question? My guess is that we'll probably see some minor changes—as is the case usually.

I'm sure designs are being finalized, which is why we've only seen as much as we have on this tower. What was shown is what was submitted to city planning earlier this year. By the time approvals begins, sometime next year, the info will be closer to what will be the final design. As far as height goes, that's always subject to revision. As it is, we only know it will be "about" 1,600 ft.

[NYguy]

Citadel is scheduled to move out of 350 Park next year, so we will likely see the process of demolition begin next year.



DECEMBER 21, 2024

[ChiND]

PTL!!!

[ssh]

Really excited for this and 175 to go up, crazy to think about the fact that NYC will have ZERO supertalls under construction very soon (when 520 5th and 270 Park get done in '25) unless something changes drastically. Don't remember the last time that's been the case since I've been following 'scrapers.

[NYguy]

Originally Posted by ssh

Really excited for this and 175 to go up, crazy to think about the fact that NYC will have ZERO supertalls under construction very soon (when 520 5th and 270 Park get done in '25) unless something changes drastically. Don't remember the last time that's been the case since I've been following 'scrapers.

Nothing drastic needs to happen. There are already towers ready to come out of the ground or restart construction. 350 Park was always planned to start later than most. As always, there are just new proposals that come out of nowhere because we don’t know everything.

[ssh]

Originally Posted by NYguy

Nothing drastic needs to happen. There are already towers ready to come out of the ground or restart construction. 350 Park was always planned to start later than most. As always, there are just new proposals that come out of nowhere because we don’t know everything.

Assuming you're referring to 740 8th and 41 W 57th? I'm not sure of any other supertalls sites that are ready for construction. Maybe 625 Madisonif demolition is quick?

[NYguy]

As expected….


https://commercialobserver.com/2025/...-fifth-avenue/

Citadel Inks Deal for 504K SF at Brookfield’s 660 Fifth Avenue


BY ISABELLE DURSO
JANUARY 2, 2025

Financial services firm Citadel is moving into offices at 660 Fifth Avenue as it waits for its new headquarters to be built at 350 Park Avenue.

Citadel, which manages capital for institutional investors and individuals, signed a lease for 504,000 square feet at the 39-floor Midtown office tower redeveloped by landlord Brookfield Properties, according to a quarterly office report from Colliers (CIGI).

Citadel has been in talks to lease space at 660 Fifth since the summer. The space will provide the firm space to wait out construction on the 62-story office tower it’s building with Vornado Realty Trust (VNO) and Rudin at 350 Park, where Citadel will eventually occupy about 850,000 square feet once the property is complete in 2032, Business Insider reported.

Citadel plans to relocate from the space it currently occupies at 350 Park to 660 Fifth in 2025, according to Business Insider.

The company and its affiliate, Citadel Securities, also have a 440,000-square-foot office nearby at L&L Holding Company’s 425 Park Avenue, as Commercial Observer previously reported.

[NYguy]

A little more on the signing…


https://www.bisnow.com/new-york/news...f-lease-127367


Citadel Expands NYC Office Footprint With 500K SF Lease


January 2, 2025
Sasha Jones

…Citadel will occupy 20 floors of the 39-story tower, on the corner of 52nd Street, according to a Brookfield spokesperson.

Citadel employees are moving into the space while a joint venture of Griffin, Vornado Realty Trust and Rudin is building a supertall at 350 Park Ave. where Citadel has agreed to occupy approximately 850K SF of the nearly 2M SF tower, according to public filings. The company also anchors 425 Park Ave. with a 440K SF lease.

Griffin has been an advocate for return to work, previously speculating that unemployment will rise as bosses aren’t able to make in-person connections with employees. After his firm made $16B in 2022, becoming the world’s best-performing hedge fund, he credited that success to strict office mandates.