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

[NYguy]

Originally Posted by ChiND

WOW!!!

Does demo of the existing buildings start in 2026?

Posted earlier this month...

https://www.investing.com/news/trans...5-93CH-4171046


08/05/2025

[ChiND]

Thank God!

[NYguy]

https://www.investing.com/news/trans...m-93CH-4234544

Michael Franco, President and Chief Financial Officer, Vornado:

….350 Park is front and center, you know, I mean, it’s interesting there. Notwithstanding, we're not going deliver until 2032, right? Glenn's getting incomings to take vacancy there. We're going have final ULURP approval by the end of this year and demolition to start on existing buildings by March.

[NYguy]

Wondered how the impending demolition would affect this restaurant...


https://nypost.com/2025/09/14/busine...5-madison-ave/

Fresco by Scotto — owned by NY anchor Rosanna — renews lease at 485 Madison Ave.





By Steve Cuozzo
Sep. 14, 2025

When popular Italian restaurant Fresco by Scotto launches Saturday brunch with a live DJ for the first time in October, it might be a celebration of something precious in Midtown — a 10-year lease renewal with a simpatico landlord.

Fresco co-owner Rosanna Scotto, also known for her Channel 5 gig on “Good Day New York,” said 485 Madison Avenue owners Jack Resnick & Sons “really worked with us” on the deal. (Resnick was represented in-house in the renewal by Brett Greenberg and Adam Rappaport. Savills’ Ken Ruderman and Jeff Lagowitz represented Fresco.)

But both Fresco and 485 Madison itself are in a precarious location. The building is adjacent to the planned development of a new 350 Park Ave. — a mega-project by Vornado Realty Trust, Rudin and Ken Griffin, whose two separate Citadel companies will be the anchor tenants.

The skyscraper will rise to 1,600 feet — taller than JPMorgan Chase’s new headquarters tower — and requires demolition of three buildings, one of which stands smack against 485 Madison.

“We’ve talked to the developers,” Scotto said. “They’re going to be very cognizant of and sensitive to our needs. And the Resnicks really didn’t want to lose us.”

Scotto said she knows her facade will be under a scaffold when demolition starts next year. “But I hope it will be a beautiful scaffold,” she said with her typical good cheer.

[NYguy]

https://www.crainsnewyork.com/real-e...ave-tower-plan

Vornado-Rudin-Griffin partnership gets green light for 62-story Midtown tower


JULIANNE CUBA
September 25, 2025

The City Council on Thursday paved the way for a long-discussed Midtown skyscraper, to be developed through a partnership that includes billionaire Ken Griffin, to break ground.

Lawmakers voted unanimously to approve plans for the 62-story tower, to rise at 350 Park Ave., proposed by Vornado Realty Trust, development firm Rudin and Griffin.

Griffin's firms, Citadel and Citadel Securities, would be the tower's anchor tenants, occupying at least 850,000 square feet of the roughly 1.7 million-square-foot skyscraper, said Barry Langer, head of development at Vornado, during a presentation on the tower for the council last month.

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. — would be demolished to make way for the tower. The majority of the footprint, however, is currently vacant, said Langer.

Demolition would break ground in the second quarter of next year, with the new building expected to come online in 2032.

Also approved during the meeting were plans for a roughly 355,000-square-foot tower at 515 Seventh Ave. in the Garment District. The proposed building either would rise 36 stories and include 255 hotel rooms as well as office space, or would stand 38 stories tall and include only office space.

[NYguy]

Now that pesky approvals are out of the way, we can focus on demolition and how this tower will fit the skyline.


September 20, 2025

[BanBrokenChatBots]

One thing we do know is from Top of the Rock looking east you're going to have almost a 500 m tall straight wall of glass.

[wpolom]

Can't wait to see this beauty rise. Hope i can said the same for 175 Park Avenue in the near future.

[NYguy]

Originally Posted by BanBrokenChatBots

One thing we do know is from Top of the Rock looking east you're going to have almost a 500 m tall straight wall of glass.

There's a lot to be considered from that vantage point, which is a good one because it's in the center of everything. For example, the Roosevelt Hotel development will be a major new tower, as would SL Green's plans for a new tower on Madison. That one I believe would block the view of One Vanderbilt from this vantage point, how much depending on the height. 343 Madison, as well as the "new" 383 Madison will bookend the Roosevelt site.

[chris08876]

Credit: DBOX via NYY

[NYguy]

https://nypost.com/2025/09/29/busine...aper-approved/

Ken Griffin project to build Midtown’s tallest skyscraper on Park Avenue gets green light





By Steve Cuozzo
Sep. 29, 2025

Midtown’s tallest-ever skyscraper, to be anchored by Ken Griffin’s financial companies, has gotten the green light in a 48-0 vote by the City Council — a rare unanimous endorsement by the often development-averse body.

The plan for a new 350 Park Ave. represents a remarkable personal commitment by mega-billionaire Griffin, who’s a partner with two major development companies — privately held Rudin and publicly traded Vornado Realty Trust.

The 1,600-foot-tall tower will dwarf Midtown’s current cloudbuster king, the JPMorgan Chase headquarters at 270 Park Ave., by 200 feet. Its 1.7 million square feet of floor space will be anchored by two Griffin-owned companies, Citadel and Citadel Securities, which will occupy 850,000 square feet

Demolition of three buildings now at the site will start early next year, with the new, $4.5 billion tower to open in 2032. It will front on the full block of Park Avenue between East 51st and 52nd streets and on portions of the side blocks, as well.

The designers, architectural firm Foster + Partners, have something of a monopoly in the neighborhood — they also designed the JPMorgan tower and nearby 425 Park Ave.

The 350 Park Ave. project has been in the planning stages for six years. It was made possible by recent rezoning to allow larger office buildings such as One Vanderbilt in East Midtown, a once-premier district that was dominated by older, smaller and antiquated buildings.

The new tower required $150 million purchases of air rights from St. Patrick’s Cathedral and St. Bart’s Church, as well as city approval of a relatively small size increase for which the developers are to contribute $35 million to the city for pedestrian and public improvements.

The tower will rise with or without additional tenants. Vornado’s executive vice-president earlier told The Post. “The magic formula to get a tower off ground is to have an anchor tenant and equity partners, which we have in the form of ourselves, Rudin and Ken Griffin.”

The supertall tower is to be all-electric, environmentally sensitive and “wellness”-attuned.

[HyperPower]

At $4.5 billion buckaroos this will be one of the most expensive buildings in the world almost on par with one World Trade Center. 270 Park avenue was roughly $3 billion

https://i.ibb.co/21Wnpcc3/RDT-202509...169496380.webp

[NYguy]

Yes, it's expensive. But the pricetag covers the cost of the entire project.

[NYguy]

And so it begins...


https://www.crainsnewyork.com/real-e...town-manhattan

Rudin, Vornado file demo permits to make way for 350 Park Ave. skyscraper





Julianne Cuba
October 10, 2025

Just two weeks after getting the green light to break ground on a long-touted Midtown skyscraper, the developers behind the project have filed plans to demolish two of the buildings standing in its way.

Richard Concannon, vice president of operations at Rudin, and David Bellman, executive vice president at Vornado Realty Trust — the two firms spearheading the project alongside hedge fund magnate Ken Griffin — submitted permits to the Department of Buildings Thursday to demolish 40 E. 52nd St. and 350 Park Ave. on the site of the proposed tower, records show.

The new, 62-story tower would be given the address 350 Park Ave. and replace three existing buildings on the site, including the 31-story building currently located at that address, between East 51st and East 52nd streets, and the 23-story building located at 40 E. 52nd St.

A 5-story building located at 39 E. 51st St. would also need to be demolished to make way for the project, but permits for it have not yet been filed, records show. The majority of the existing footprint is already vacant, and the new building is expected to come online in 2032.

Griffin's firms, Citadel and Citadel Securities, would serve as its anchor tenants, occupying at least 850,000 square feet of the roughly 1.7 million-square-foot skyscraper.

Some tidbits from the permit...

Is the foundation being removed?
No

Will any building elements above grade remain after the demolition?
Yes

Comments
This demolition project is filed as part of a 3-building demolition project including 40 East 52nd Street & 39 East 51st Street.

[UrbanImpact]

Originally Posted by HyperPower

At $4.5 billion buckaroos this will be one of the most expensive buildings in the world almost on par with one World Trade Center. 270 Park avenue was roughly $3 billion

https://i.ibb.co/21Wnpcc3/RDT-202509...169496380.webp

Yup , it’s doesn’t get much more Prime A+++ office space worldwide than this building and its new and future neighbors.

[NYguy]

Will any building elements above grade remain after the demolition?
Yes

It seems that like 270 Park, they will be using the existing foundation, at least on the 350 Park end of things. I'm assuming some columns are what will remain just above street level, though it's not completely clear (portions of the existing columns will also be removed). There's not as much train shed underneath this site as there is at 270 Park.

[Busy Bee]

Yeah 350 will be a walk in the park compared to the engineering that went into 270 straddling all that railroad infrastructure.

[NYguy]

I’m just happy we’ll finally get to see some scaffolding and sidewalk sheds go up. New Yorkers hate it, but in this case it’s for a good cause!

[NYguy]

https://www.linkedin.com/posts/crain...603110912-CvBZ

[NYguy]

Looks like physical demo in march.


https://www.gurufocus.com/news/31824...all-transcript

Steven Roth


Our 1.8 million square foot 350 Park Avenue new build, with Citadel as our anchor tenant and Ken Griffin as our 60% partner continues right on schedule. The city council unanimously approved this year, and I did say unanimously. We will commence demolition in March 2026.

We remain very excited about the prospects for this new Foster & Partners design, best in class 1.8 million square foot tower, as is the brokers and tenant communities.

We are already getting incomings for spec space from clients seeking the very best and for whom our delivery date fits their needs.