Posted Aug 5, 2024, 9:15 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 52,875
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https://www.curbed.com/article/midto...ales-bump.html
Midtown’s J.P. Morgan Sales Bump
By Kim Velsey
Aug 5, 2024
Quote:
As Shea mentioned, J.P. Morgan, one of the staunchest supporters of working from the office, is finishing 270 Park Avenue, a 2.5-million-square-foot Norman Foster–designed behemoth expected to hold upwards of 10,000 employees when it opens next year. Its old headquarters across the street has less than half that — 3,500 workers.
More blue-chip towers (and, presumably, wealthy buyers) are on the horizon, including the 62-story 350 Park Avenue, the new Vornado and Rudin tower that Ken Griffin’s Citadel is expected to take nearly half of, and 175 Park Avenue, an RXR/TF Cornerstone project slated to be the tallest office building in New York. Plus, there’s One Vanderbilt, which opened a few years ago with tenants including TD Securities, Oak Hill Capital, and the Carlyle Group. Brokers are eagerly anticipating the corresponding sales bump at nearby residential projects. Some say that they’re already seeing it.
“It’s definitely helping with traffic,” says Donna Puzio, a senior sales director at Corcoran Sunshine Marketing Group who’s overseeing sales at 520 Fifth Avenue, a mixed-use tower designed by Kohn Pedersen Fox. The units there, with curved Charles & Co. interiors of white oak and green marble, are large and luxurious, but primarily one- and two-beds, starting around $1.75 million, and the building is now 60 percent sold after just a few months.
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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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