NEW YORK – NYC Mayor Eric Adams unveiled new details and renderings of a once-in-a-generation office tower at 350 Park Avenue that will be home to more than 6,000 jobs in Midtown Manhattan. After filing an application with the New York City Department of City Planning, Vornado Realty Trust, Kenneth Griffin, and Rudin are advancing a new tower that will deliver 1.8 million square feet of commercial office space, a new public concourse, and more than $35.8 million for the city’s East Midtown Public Realm Improvement Fund. Additionally, the project will purchase excess development rights from St. Patrick’s Cathedral and Saint Bartholomew’s Church, contributing a combined $150 million for upkeep of these historic landmarks.
The hedge fund Citadel and leading market maker Citadel Securities will serve as anchor tenants, occupying at least 850,000 square-feet for their new Manhattan offices. The project is expected to begin the city’s public review process early next year.
“Today, we are doubling down on our efforts to build a ‘New’ New York with a project that will help supercharge our economy and expand New York City’s iconic skyline,” said Mayor Adams. “Home to more than 6,000 jobs, this project will build on our continued efforts to energize Midtown Manhattan as the world’s most important business address and an economic engine for working-class New Yorkers. New York City has come back stronger than ever thanks to our focus on protecting public safety, rebuilding our economy, and making our city more livable.”
As anchor tenants, Citadel and Citadel Securities’ workforce — currently 2,100 and growing — will occupy a significant portion of the tower, further cementing New York City’s position as the financial capital of the world.
Designed by architecture firm Foster + Partners, the tower will feature floor-to-ceiling glass, landscaped terraces, and a stepped configuration to create an iconic, distinctive skyscraper. Additionally, 350 Park will prioritize sustainable design through the use of a high-performance building envelope and resilient materials. The tower will also enhance the public realm on Park Avenue through a world-class public concourse. Occupying 12,500 square feet of the project’s ground floor along Park Avenue, the public concourse will feature green space, social seating, greater visibility of nearby landmarks, prominent art displays, and opportunities for local businesses.
Vornado, Kenneth Griffin, and Rudin’s multi-billion investment in this new 62-story office tower comes amid the broader resurgence of Midtown Manhattan following Mayor Adams’ commitment to reimagine Fifth Avenue as a more appealing district for residents, workers, and visitors. This commitment — which includes significant investments in the public realm, the launch of the Midtown South Neighborhood Plan to create new housing and economic opportunities in the area, and generational projects such as the $10 billion effort to replace and expand the Midtown Bus Terminal — has already helped revitalize one of New York City’s most important economic corridors. In 2023, Fifth Avenue added nearly 1,000 new, high-paying jobs and experienced a 20 percent increase in visitors. Additionally, the administration has launched several highly-successful Open Streets initiatives that have driven millions of dollars in additional spending to Midtown businesses during the holiday season and taken new steps to permanently reimagine Fifth Avenue as a pedestrian-friendly district.
