NEW YORK | 250 Park Ave | FT | FLOORS

[Sky88]

Originally Posted by ChiND

I wonder if a 1,200’ tower is viable on this site.

Yes, I think it could be done with an spire that can reach 1,200 ft. That site should be used to the fullest.

[NYguy]

Originally Posted by ChiND

I wonder if a 1,200’ tower is viable on this site.

The floor plates are small. Does JPMC build with the higher ceilings like its new headquarters and the newest towers in the city? It could. Maybe it won’t. We’ll see.

[ChiND]

I’d like to see another 1,000’+ tower here.

Only in NY!

[ChiND]

Originally Posted by NYguy

^ Posted above, highly unlikely.





This is a complicated site. The max FAR is 27 (can get up to 30). Official footprint is about 25,000 sf, though according to city records, it's actually larger. The footprint is very small, which would push the tower upwards. But at some point, giving city zoning, it doesn't make as much sense for an office tower to get smaller towers as it gets above supertall height. It would make more sense for residential. But JPMC could be looking at this as an opportunity to expand right in its own backyard, in its own towers, rather than continue to lease space.

How tall do you think this will be? 900’, 1,000’, 1,200’

[NYguy]

^ I don't know. I'll put a conservative guess at maybe 1,000 ft, which would be fine with me. We know that the Roosevelt Hotel site will likely produce something in the range of Vandy and 270 (if not taller). I don't like the idea of too many similarly sized towers on the skyline in the same space. It could end up like Hudson Yards, where everything is too similar in height.

[ChiND]

Thanks. Let’s keep our fingers crossed.

[NYguy]

https://www.bisnow.com/new-york/news/deal-sheet/this-weeks-ny-deal-sheet-125661

JPMorgan Chase & Co. and Hines shelled out $320.2M to close a deal for 250 Park Ave., a 20-story office building near JPMorgan’s new headquarters at 270 Park Ave., Crain’s New York Business reported. The sale has been under contract since mid-July, according to Bloomberg, and hit public records this week after closing earlier this month.

[ChiND]

With the new medians and all of the iconic new towers, Park Avenue is going to be absolutely gorgeous.

[NYguy]

JPMC’s new tower at 280 Park can only hold a fraction of its NYC footprint. I wonder how long before we start seeing plans for the new tower at 250….



https://www.bizjournals.com/newyork/news...ark-avenue-nyc-compass-warby-parker.html

JPMorgan Chase among major office lease renewals in Q4


By Kevin Smith
Jan 13, 2025

JPMorgan & Chase Co. has re-signed its lease at a Midtown Manhattan office building across the street from its new headquarters.

The banking giant (KPM: NYSE) signed an extension on its 360,000-square-foot lease at 277 Park Ave. in the forth quarter, according to a Q4 report from Colliers.

JPMorgan Chase's office lease extension comes as the company announced a mandatory work-in-office policy and as the company finishes its 60-story headquarters building across the street at 270 Park Ave.

"With more than 17,500 employees working in Manhattan across a number of corporate office locations, we are always reviewing our long-term real estate options in Manhattan, especially as we move toward opening our new global headquarters at 270 Park later this year," a JPMorgan spokesperson said in a statement to the New York Business Journal.

… As of July, JPMorgan had about 900,000 square feet of space at the building, according to financial services company Morningstar.

[ChiND]

I'm curious about its plans for the former Bank of China building on Madison also.

[NYguy]

https://www.bloomberg.com/news/articles/...ajor-revamp-of-madison-avenue-skyscraper

JPMorgan Plans Major Revamp of Madison Avenue Skyscraper
Firm is still building new headquarters space on Park Avenue
Renovation will allow bank to have even more NYC offices


By Natalie Wong and Hannah Levitt
January 22, 2025

JPMorgan Chase & Co. is planning a renovation of its old headquarters building at 383 Madison Ave. and will use the space to house Manhattan-based employees alongside its new tower, according to people familiar with the matter.

The bank has hired Foster + Partners to do the renovation, which will begin after its new headquarters at 270 Park Ave. is open, the people said, asking not to be identified citing private information.

“With more than 17,500 employees working in Manhattan across a number of corporate office locations, we are always reviewing our long-term real estate options in Manhattan, especially as we move toward opening our new global headquarters at 270 Park later this year,” a JPMorgan spokesperson said in an emailed statement.

The biggest US bank has been building a massive new skyscraper on Park Avenue, packed with amenities, for its headquarters, which will house about 10,000 employees. But at the same time, the bank has added more than 60,000 workers to its ranks since the project was announced.

The building at 383 Madison Ave. was formerly the headquarters for Bear Stearns, which JPMorgan purchased in the depths of the financial crisis. The tower, completed in the early 2000s, is just blocks from Grand Central Terminal.
The bank has been expanding its presence in midtown Manhattan recently. Last year, JPMorgan snapped up a property at 250 Park Ave., near its new headquarters, for more than $300 million.

[NYguy]

Getting a look at some of the planning for 383 Madison from a CPC meeting, you get a sense that JP Morgan Chase likes the look of a unified "campus". It's probably likely than the new 250 will fit into this scenario.



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[ChiND]

That looks great. I wonder what their plans are for the old Bank of China building on Madison.

[NYguy]

Mini campus taking shape…



https://skyscraperpage.com/forum/showthread.php?p=10447785&posted=1#post10447785

[Busy Bee]

____

That's Better.

[NYguy]

Looks like there may be some hotel incorporated into the new tower...



https://www.ft.com/content/e9f8ab1e-56c4-45aa-aab2-67c8abe2d99c

Joshua Franklin
August 22, 2025

JPMorgan is renovating its midtown Manhattan properties too. Offices at 383 Madison Avenue are getting a facelift, and the bank is considering adding hotel rooms at the 520,000 square-foot 250 Park Avenue building it acquired last year, according to people familiar with the matter but not confirmed by the bank. There, rooms in the 1920s address would be for out of town employees visiting the city; the thinking is that the move would ultimately save costs because it would not have to spend on hotels, the people said.

[ChiND]

Originally Posted by NYguy

Looks like there may be some hotel incorporated into the new tower...



https://www.ft.com/content/e9f8ab1e-56c4-45aa-aab2-67c8abe2d99c

Joshua Franklin
August 22, 2025

Did the expressly state that 250 will be razed? Also, does the current building have 520k sf or is that what a new building with the rezoning could have?

[NYguy]

Originally Posted by ChiND

Did the expressly state that 250 will be razed? Also, does the current building have 520k sf or is that what a new building with the rezoning could have?

JP Morgan hasn't specifically said anything about its plans, but it is partnering with Hines on a new tower there. The new tower would be about 1 msf reportedly. If they are considering adding hotel space there, it would likely be in the new tower.

[ChiND]

Originally Posted by NYguy

JP Morgan hasn't specifically said anything about its plans, but it is partnering with Hines on a new tower there. The new tower would be about 1 msf reportedly. If they are considering adding hotel space there, it would likely be in the new tower.

1m sf on that small site should be at least 900'. If it will include a hotel, it will probably be even taller.

[chris08876]

If the Metlife is anything to go by, and given the parcel size, and that rendering, in the 700-750' range.

There is a big need though for more hospitality units, so hopefully that can bumb it up even more.

I wonder if the potential rate cuts (if they happen in September) will bring optimism to maybe scale things up a little more. Not just for this but for other projects considering there is big momentum in the pipeline at the moment.

Literally BIG momentum. The number of projects being proposed has skyrocket since last year around the same time.