Citadel Progresses with Park Avenue Tower Plans

Billionaire investor Ken Griffin, founder of hedge fund Citadel, along with developers Vornado Realty Trust and Rudin, are forging ahead with plans to erect a 1.8 million-square-foot office tower on New York’s Park Avenue.

This venture, poised to reshape the midtown Manhattan skyline, underscores the vitality of the corporate headquarters-centric corridor and the real estate market, which has seen office vacancies soar to unprecedented levels.

Citadel and its affiliate firm, Citadel Securities, are slated to be anchor tenants in the new 62-story tower at 350 Park Ave., occupying no less than 850,000 square feet, according to a statement from New York City Mayor Eric Adams’ office. As part of the public-private project, a 12,500-square-foot public concourse will be created, along with funding for other public enhancements.

*Article courtesy of Costar

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