In New York this week, Mayor Eric Adams gave details about the latest design for a tentative 62-story skyscraper at 350 Park Avenue in Midtown Manhattan. The office tower has been designed by Foster + Partners, together with Vornado, Rudin Management, and Citadel.
Currently, 350 Park Avenue is occupied by a squat midcentury office building clad with a standardized curtain wall that would be demolished to make way for the new tower. This latest proposal marks the third redesign for the Park Avenue site. The development team first posited a supertall lined vertically with wedge-like volumes, a second version simplified the massing with a 51-story structure clad with white mullions. This latest announcement signals that a significantly taller building will be coming to the neighborhood: The new design will create a total 1.8 million square feet of new office space.
Upon completion, 350 Park Avenue’s anchor tenant will be Citadel, a hedge fund, and Citadel Securities. Cumulatively, Citadel and Citadel Securities’ New York workforce totals 2,100 staffers, and growing. Both entities will occupy 850,000 square feet of the 1.8 million-square-foot supertall.
The design by Foster + Partners shows floor-to-ceiling glass, landscaped terraces, and—in elevation—a stepped configuration that recalls the studio’s design for JPMorgan & Chase located just a few blocks away (and cleverly depicted in the 350 Park renderings). The design team says the finance tower will be made of sustainable materials. A 12,500-square-foot public concourse will be added beneath the tower to enhance Park Avenue’s pedestrian realm. At the plaza, there will be green space, social seating, public art, opportunities for local businesses, and greater visibility of nearby landmarks, the architects said.
Kenneth Griffin, Citadel’s CEO, Vornado, and Rudin Management struck a deal with the New York City Planning Department to acquire the air rights necessary to build taller. The development team will give $35.8 million to the East Midtown Public Realm Improvement Fund in exchange for air rights. Additionally, the team will also buy excess development rights from St. Patrick’s Cathedral and Saint Bartholomew’s Church, giving a total $150 million for the upkeep of both historic landmarks.
Mayor Eric Adams told members of the Association for a Better New York (ABNY) that the new Foster + Partners–designed tower will support 6,000 new jobs when it’s finished. He also said it would embolden midtown Manhattan, as the business district struggles to bounce back from the hit it took during Covid. “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,” Mayor Adams said in a statement.
“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,” Adams continued. “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.”
The skyscraper project is expected to begin the city’s public review process in winter 2025, and is anticipated for completion in 2032.
