Ken Griffin project to build Midtown’s tallest – Business News
Midtown’s tallest-ever skyscraper, to be anchored by Ken Griffin’s financial firms, has gotten the inexperienced gentle in a 48-0 vote by the City Council — a uncommon unanimous endorsement by the customarily development-averse physique.
The plan for a new 350 Park Ave. represents a exceptional personal dedication by mega-billionaire Griffin, who’s a companion with two main development firms — privately held Rudin and publicly traded Vornado Realty Trust.
The 1,600-foot-tall tower will dwarf Midtown’s present cloudbuster king, the JPMorgan Chase headquarters at 270 Park Ave., by 200 toes. Its 1.7 million sq. toes of ground space might be anchored by two Griffin-owned firms, Citadel and Citadel Securities, which is able to occupy 850,000 sq. toes.
The 1,600-foot-tall tower will dwarf Midtown’s present cloudbuster king, the JPMorgan Chase headquarters at 270 Park Ave., by 200 toes. Foster + Partners
Demolition of three buildings now on the website will begin early subsequent yr, with the new, $4.5 billion tower to open in 2032. It will entrance on the complete block of Park Avenue between East 51st and 52nd streets and on parts of the facet blocks, as nicely.
The designers, architectural firm Foster + Partners, have one thing of a monopoly within the neighborhood — in addition they designed the JPMorgan tower and close by 425 Park Ave.
The 350 Park Ave. project has been within the planning phases for six years. It was made doable by current rezoning to enable bigger workplace buildings corresponding to 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, in addition to metropolis approval of a comparatively small dimension increase for which the builders are to contribute $35 million to the town for pedestrian and public enhancements.
The 350 Park Ave. project has been within the planning phases for six years. It will boast a block-long public plaza on the Park Avenue facet and wrapping onto the facet streets, a fine-dining restaurant. Foster + Partners
The tower will rise with or with out further tenants. Vornado’s govt vice-president earlier informed The Post Foster + Partners
The tower will rise with or with out further tenants. Vornado’s govt vice-president earlier informed 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 delicate and “wellness”-attuned.
It will boast a block-long public plaza on the Park Avenue facet and wrapping onto the facet streets, a fine-dining restaurant on 52nd Street and a cafe on 51st Street. The Council permitted the plans on Thursday.
The plan for a new 350 Park Ave. represents a exceptional personal dedication by mega-billionaire Ken Griffin Citadel
A project spokesman mentioned, “We appreciate the Council’s thoughtful consideration and we thank Council Member [Keith] Powers and the City Planning Commission for their productive feedback and leadership throughout the approval process.”
