Ken Griffin's $4.5B Tower Approved: 1,600-Foot Skyscraper to Transform Midtown Manhattan
Billionaire Ken Griffin and partners have received the green light to build a colossal tower at 350 Park Avenue. The New York City Council unanimously approved the project in September 2023, paving the way for the 1,600-foot supertall skyscraper.
The $4.5 billion development, a joint venture between Griffin's firms Citadel and Citadel Securities, Rudin Management, and Vornado Realty Trust, will replace three aging buildings. These include Vornado's 350 Park building, Rudin's 40 East 52nd Street, and a historic five-story Beaux-Arts building at 39 East 51st Street. Demolition is set to begin in 2026, with completion expected in 2032.
Designed by Foster + Partners, the tower will span 1.7 million square feet, with Citadel and Citadel Securities occupying about half the space. The current design features seven rounded glass flutes and landscaped terraces. The developers have also purchased air rights and contributed to public realm improvements, demonstrating their commitment to the project's impact on the community.
Upon completion, the 350 Park Avenue tower will stand as one of the tallest on Park Avenue, surpassing the 270 Park Avenue building by over 200 feet. The project, led by Ken Griffin and his partners, is set to transform the Midtown Manhattan skyline and contribute significantly to the city's economy.
