NEW YORK | 270 Park Ave | 1,389 FT | 57 FLOORS

[NYguy]

Originally Posted by JMKeynes

Hopefully, RXR will greatly exceed that at the Grand Hyatt.

1425 - 1388 = 37. That's 37 ft. It will still have the same visual impact. But the Grand Hyatt will probably (or likely) reach higher than Vanderbilt.

[JMKeynes]

Originally Posted by NYguy

1425 - 1388 = 37. That's 37 ft. It will still have the same visual impact. But the Grand Hyatt will probably (or likely) reach higher than Vanderbilt.

I agree.

[rgarri4]

Story in Reuters today featuring my rendering.


https://www.reuters.com/article/us-j...-idUSKBN26Y2HP

[NYguy]

^ Nice!


https://finance.yahoo.com/news/jpmor...lab4NyBX2NWQlD

JPMorgan sticks with plan to build giant New York headquarters



An illustration by Lewis Garrison, a 3-D architectural illustrator who likes to make video flyovers of skylines, here envisions JPMorgan's new headquarters towering over Midtown Manhattan


By David Henry Herbert Lash

JPMorgan Chase & Co is forging ahead with plans to build a mammoth new headquarters in New York, Chief Executive Jamie Dimon said on Tuesday, despite the coronavirus pandemic casting serious doubt on the future of office buildings.

“We’re building that headquarters for 50 years! It is not a short-term decision,” Dimon said during a call with reporters after posting quarterly results.

Slated to open in 2024, for a price tag of as much as $3 billion, the building at 270 Park Avenue is to house about 14,000 employees.

At 1,425 feet, it would be the second-tallest office building in Manhattan behind One World Trade Center, nearly 200 feet higher than the Empire State Building and more than 400 feet above the nearby Bank of America Tower, according to the Council on Tall Buildings and Urban Habitat.

But since pandemic lockdowns happened in March, far fewer workers have been going into offices, making it unclear why such a big skyscraper is necessary.

JPMorgan has been showcasing new safety protocol and prodding white-collar employees to return, but New York’s financial centers are nothing like they were before the pandemic. Major thoroughfares are more populated than when virus fears ran high, but the Midtown lunch crowd remains sparse.

The longer it goes on, the less temporary it seems.

Companies will need 10% to 20% less office space in a post-pandemic world, several real-estate brokerages predict. Nearly three-quarters of respondents to a Piper Sandler & Co survey in mid-September said they expect to work from home more often, up from 59% in its June tally.

Only one-in-five JPMorgan employees are going to offices in New York now, Chief Financial Officer Jennifer Piepszak said. The company does not expect that to change for the foreseeable future.

JPMorgan will have a lasting shift toward working from home, Dimon said, but he doesn’t know how big the change will be. The bank has as many people assigned to other New York buildings as it plans to have in the skyscraper and can adjust if necessary, he said.

“We have plenty of leeway in how we manage our real estate over time,” Dimon said.

JPMorgan likely will adopt new floor plans that are less dense with larger conference rooms and perhaps more private offices, said Dennis Donovan, principal at Wadley Donovan Gutshaw Consulting. The bank will be able to do that from scratch instead of retrofitting.

It may also be part of Dimon’s legacy, a building to last beyond the time anyone is talking about his expense ratios or return on equity.

“It really is something that will endure well beyond COVID,” said Jesse Keenan, a real-estate professor at Tulane University.

[Submariner]

Though expensive, relative to the cost of a 1425 foot tall building taking the place of an existing 700 foot tall skyscraper, adding high powered air scrubbers to the building would make it a safe place to work, even maskless!

As with almost any pathogen, the more exposure you get, the greater the chance you will come down with the disease. Reducing airborne viral load can drastically reduce the chances of people becoming ill. HEPA air filters have been shown to trap COVID viral particles in numerous studies. With enough power, an office could change air 30 times an hour or more. Combined with sufficient drafts (mixing a pocket of air containing COVID with air that doesn't contain COVID reduces the number of particles someone can potentially inhale), inside air would be very safe to breathe even without a mask.

A multi-stage solution, though more expensive, would be the safest choice. It would look something like this:
1.) wire mesh pre-filter to remove large airborne particles
2.) active charcoal filter to remove odors
3.) washable HEPA filter
4.) replaceable HEPA filter
5.) electrostatic filter (passing air through a negative charge then past positively charged plates)
6.) LED UV sterilizer

The JP Morgan building is about 2.6 million square feet. Assuming an average of 12 floor-to-ceiling heights and a full exchange of air 30 times an hour, you would need a system that can move 960,000 cubic feet of air a minute. To put that in a perspective, it's equivalent to evacuating the air from a 98x98x98 foot box every single minute. It definitely can be done.

Of course to make people feel really safe they need to do the same for trains and subway stations.

[NYguy]

^ Office buildings have already been doing a lot of that since the pandemic reopening began. It's just going to have to be done, regardless of costs. That's the only way you're going to get office levels closer to normal. It will be a year or two before we can even get there. But new construction has an edge over older buildings that are being retrofitted for safety. All of this can be planned for now, before the first steel even begins to rise.

[Crawford]

This tower will be completed years after there's a vaccine, and Covid is just a bad memory. So no doubt they're using best practices as of right now, but "fear of future pandemic" will not be particularly relevant.

[NYguy]

https://nypost.com/2020/10/13/jpmorg...-optimism/amp/

Dimon also forecasted fewer Manhattan-based staffers for some time to come, even as the bank moves forward with a new 1,425-foot headquarters 270 Park Avenue.

“The new headquarters will accommodate less than half of what we have in New York City now,” Dimon said after confirming that he is going ahead with the project. “I do expect New York headcount to come down over time.”

JPMorgan’s New York City and London offices are currently operating at 20 percent capacity in a nod to social distancing guidance, and will continue to do so for the foreseeable future, Piepszak said.

[NYguy]

https://www.cityrealty.com/nyc/marke...molished/27922

[Zapatan]

I suppose they'll have to excavate a deeper hole for the larger tower when this is gone.

I wonder if the new tower will start rising next year, considering this seems like a pretty lengthy process.

[NYguy]

Originally Posted by Zapatan

I suppose they'll have to excavate a deeper hole for the larger tower when this is gone.

I wonder if the new tower will start rising next year, considering this seems like a pretty lengthy process.

NO excavation, as we just discussed. They're using the existing foundation, and the tower will start rising next year as demolition is complete.

[NYguy]

Moved the Goldman convo here...

https://skyscraperpage.com/forum/sho...d.php?t=177586

[NYguy]

https://www.instagram.com/p/CGkmqXkgPfd/

[NYguy]

Few more graphics...

[JMKeynes]

I’m elated that they’re keeping the same basic shape, but I preferred how the setbacks in the earlier design were on different floors of the north and south facades, but now they’re symmetrical.

[Xing Lin]

Interesting design update- I've put it next to the NABTU diagram scaled approximately equally (1425' vs 1388').

Another effect of the rearrangement of the setbacks is that the tower looks a lot slimmer now- compare how wide the floorplates are at various heights above the second pair of setbacks.

Still a massive tower next to One Vanderbilt though!

[JMKeynes]

Nice work!

[Xing Lin]

Thank you!
Another thing I just noticed: the central 'tree' of lobby columns is now skewed towards Park Avenue. Not too bad but just a little irritating to look at.

[NYguy]

Originally Posted by Xing Lin

Fast work!



Comparison of the ground floor upper and lower levels...

[pianowizard]

Will this be the largest (by volume, not square footage) building in NYC? It seems larger than 1 WTC and 30 Hudson Yards.