The clock begins to score Monday to win the city’s approval for the most ambitious development project of Midtown-A-1.8 million square legs, 1,600 meters tower at 350 Park Avenue, to be developed by a frightening triumphant of public and private wealth.
The seven-world public review process known as Ulp Begini on March 17 for the team’s request for a relatively small increase in the floor-to-area ratio, or far, which is a measure of the size of a building regarding the size of the land it stands, above what the current may be.
Unlike dreams for some other Supertall trading towers that may not be built, 350 park seems to be a sure thing.
It is a joint AA enterprise of Vortado Realty Trust publicly traded, which owns the existing, non -attractive building of Midcentur in 350 Park Ave; Private-Shell Rudin, who owns adjacent and equally attractive 40 E. 52nd st.; and mega-millionaire investor Ken Griffin. Citadel and Citadel’s securities, separate companies that Griffin leads, will be the tenants of the anchor of skyscrapers with at least 850,000 square meters.
If the city’s approval is given, the partners can begin to break down the old structures when Citadel is temporarily hired to leave the old park 350 next year.
Cloudbuster will begin to grow with or without any additional tenants. Vice-President of Vorning for Development and Real Estate Barry Langer said,
“The magic formula to get a tower on earth is to have an anchor tenant and capital partners, which we have in the form of ourselves, Rudin and Ken Griffin,” he said.
The total estimated development cost is $ 4.5 billion, Langer said.
The tower, environmentally sensitive, “wellness”, the whole -electric, created by the Foster + Partners will be the highest of Park Avenue ever, darling the new JPMORGAN Chase headquarters with more than 200 meters.
Some steps are needed to increase permissible 53,000 square legs from 15 to current 25. Partners will link air rights from St. Cathedral and St. of Patrick and St. The Bart Church, which they are buying for a combined $ 150 million – which requires no public review – and contributes more than $ 35m to the Midtown city’s RealM Realm improvement fund.
To obtain three additional units, the project will include major public facilities: a block, 12,500 square meters open plasters Fronting on Avenue and wrapping on Eastern Roads 51 and 52, designed by high -line designer field operations; a five -legged sidewalk that expands on each of the lateral roads; And a good dinner restaurant on 52 Street and a cafe on Street 51.
Alfresco Plaza will sit under a ceiling forty meters high similar to a vowel installed on Penn 2, part of its redeveloped Penn-Station-Earea complex.
At 350 park, Griffin “intends to create world -class office space for his team, with great natural light, column -free floors and access to equipment,” Langer said.
He credited the last reasoning of the city of the city with “encouraging developers like us having 1950s buildings with low ceilings” to replace them with 21st century product. That was ours [Vornado’s] Motivation. “
He said Rudin – “We are definitely friends” – was motivated by the fact that Blackrock, his main tenant at 40 E. 52nd. St., moved to Hudson Yards, “leaving a large block of space to rent in an older building.”
The new tower design boasts a series of obstacles open on its side to the east. The torn shape will allow optimal light and view on the office floors. Some tenants will access private terraces in nature.
The top executive partner of Foster + Partners Nigel Dancey said, “We met Ken at 425 Park Ave. [which his firm also designed and where Citadel has a large space.] It is a perfectionist type for well -paved floor tiles. “
Dancey said 350 park will provide “Excellent diagonal views. We move the essential elevators to the west to create large fleets on the side of the road. “
The screaming process begins with a single 60-day advisory summary from the Manhattan 5 Community Board. The plan then goes to Manhattan Borough’s President, the City Planning Commission, the City Council, with the final approval by the mayor.
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