The forthcoming Midtown skyscraper, a partnership that includes billionaire Ken Griffin, is set to spark its public review process next month. Plans for the 62-story tower, confirmed by developers Vornado Realty Trust and Rudin, along with Griffin were filed with the Department of City Planning, as reported by Crain's New York. This environmentally conscious endeavor at 350 Park Ave. aims to hold 1.8 million square feet of competitive, new office space and is fueled by a 2017 rezoning decision in Greater East Midtown.
Griffin's firms, Citadel and Citadel Securities, are anticipated to be the tower's main tenants, occupying no less than 850,000 square feet. According to documents, the development also promises over 16,000 square feet of retail area on the ground floor, primarily for eateries, and a 12,500-square-foot public concourse expected, to provide additional amenities in the Park Avenue corridor. This massive project, aiming to break ground in spring 2026, will follow an approximate seven-month-long review period entailing public discourse and various levels of government analysis, mentioned by Crain's New York.
In adding to the city's skyscraper landscape, the all-electric tower intends to host 6,000 workers across its commercial spaces. A public statement from a Citadel spokesperson emphasized their enthusiasm to "move forward with the development of an iconic tower that will provide world-class office space for our colleagues and reshape both Park Avenue and the Manhattan skyline for decades to come," echoed by Bloomberg. Moreover, the architectural craft belongs to Foster + Partners, with completion targeted for 2032.
The project is seizing the opportunity provided by the Midtown East rezoning, and isn’t the only development sprinting ahead. Close by, JPMorgan Chase & Co. is constructing its new headquarters at 270 Park Ave.,, and is overhauling its previous building at 383 Madison Ave. Provided that the public review and necessary hearings progress as planned, this filing is indeed the latest stride towards lifting this ambitious skyscraper off the ground which, as reported by Bloomberg, Citadel and Citadel Securities will anchor.
