Ken Griffin project to build Midtown’s tallest skyscraper approved

Midtown’s Tallest Skyscraper, Anchored by Ken Griffin’s Companies, Gets Green Light

Midtown’s tallest-ever skyscraper, to be anchored by Ken Griffin’s financial companies, has been approved in a unanimous 48-0 vote by the City Council. This rare endorsement by the typically development-averse body marks a significant milestone for the new tower.

The plan for the new 350 Park Ave. showcases a remarkable personal commitment by mega-billionaire Griffin, who is partnering with two major development companies – Rudin and Vornado Realty Trust. The 1,600-foot-tall tower will surpass the current cloudbuster king, JPMorgan Chase headquarters at 270 Park Ave., by 200 feet.

Griffin’s companies, Citadel and Citadel Securities, will occupy 850,000 square feet of the tower’s 1.7 million square feet of floor space. The project, estimated at $4.5 billion, will involve the demolition of three existing buildings on the site and is set to open in 2032.

The project, in planning for six years, was made possible by recent rezoning in East Midtown. It required significant air rights purchases from St. Patrick’s Cathedral and St. Bart’s Church, as well as city approval for size increases.

The tower will feature a block-long public plaza, a fine-dining restaurant, and a cafe. It is designed to be environmentally sensitive and “wellness”-attuned. The Council approved the plans on Thursday, with construction set to proceed with or without additional tenants.

A project spokesman expressed gratitude for the Council’s approval, acknowledging the leadership and feedback provided throughout the process. The tower is poised to become a landmark in the Midtown skyline, symbolizing a new era of development in the city.