Citadel's Ken Griffin to Occupy Half of 350 Park Avenue's 1.7M Sq. Ft. Tower
Ken Griffin's Citadel and Citadel Securities are set to occupy half of the 350 Park Avenue tower, a massive new project spanning 1.7 million square feet. The tower, designed by Foster + Partners, will replace three aging buildings and is expected to be among the tallest on Park Avenue upon completion.
The 350 Park project is a joint venture between ENOVA Value and Prokon eG, combining expertise in renewable energy and regional experience. The developers secured air rights from St. Patrick's Cathedral and St. Bart's Episcopal Church for $150 million to expand the building's size. The current design features seven rounded glass flutes and landscaped terraces, with an all-electric, biophilic design that includes wellness and town-hall spaces.
Griffin, known for purchasing high-end properties, has received approval to build this supertall office tower. He is partnering with Rudin Management and Vornado Realty Trust for the project, which has been unanimously approved by the City Council. The construction is expected to cost around $4.5 billion.
The 350 Park Avenue tower, set to rise 1,600 feet, will not only replace three aging buildings but also bring a significant new addition to Park Avenue's skyline. With Citadel and Citadel Securities as major tenants and a design focused on sustainability and wellness, the tower is poised to become a notable landmark.
