Mixed-Use Building News

mixed-use
Mar 25, 2025
Article Source LogoCouncil on Tall Buildings and Urban Habitat
Council on Tall Buildings and Urban Habitat

The proposed 1,586-foot (483-meter) office building at 350 Park Avenue in New York City has officially entered the public review process. The 62-story development, led by Vornado Realty Trust, Citadel, and Rudin Management, was certified by the Department of City Planning, initiating the seven-month uniform land use review procedure (ULURP). Designed by Foster + Partners, the project includes 1.8 million square feet (167,225 square meters) of office space and a 12,500-square-foot (1,161-square-meter) public concourse, with Citadel and Citadel Securities as anchor tenants.

The developers are requesting an increase in the floor area ratio (FAR) cap from 15 to 25. To facilitate this, they have purchased US$150 million in air rights from St. Patrick’s Cathedral and St. Bartholomew’s Church and will contribute over US$35 million to the East Midtown Public Improvement Fund. The proposal includes transferring the zoning of 315,000 square feet (29,264 square meters) from St. Patrick’s and approximately the zoning of 170,000 square feet (15,794 square meters) from St. Bartholomew’s. Additionally, they are seeking a public concourse bonus of 3 FAR, equivalent to approximately 203,494 square feet (18,907 square meters) of zoning.

The supertall would replace three existing office buildings on the site: a 30-story, 23-story, and a five-story building. The project also features a public plaza designed by Field Operations, incorporating green space, seating, public art, and improved pedestrian access. Sidewalks on East 51st and 52nd Street would be widened by five feet (1.5 meters).

The building plans to accommodate up to 6,000 employees, with Citadel leasing at least 850,000 square feet (78,968 square meters). Plans also include 1.6 million square feet (148,645 square meters) of office, financial trading, and amenity space, as well as nearly 23,000 square feet (2,137 square meters) of retail space.

The project now enters a 60-day review by the Manhattan Community Board 5, followed by assessments from the borough president, the City Planning Commission, the City Council, and NYC Mayor Eric Adams. If approved, construction is expected to start shortly after with completion by 2032. The plan follows the 2017 Midtown East rezoning, which allowed for higher-density office development in the area.

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