Plans for 350 Park Avenue were revealed last year but we won’t see the supertall complete until 2027 at the earliest. In a 2019 fourth quarter earnings call last week for Vornado Realty Trust, the company confirmed that ongoing leases would conclude by end of 2023, which is the earliest it could begin to take down the current building and build the almost 1,500-foot-tall office skyscraper.
In order to build the supertall, construction would require the demolition of Vornado’s existing building on Park Avenue as well as the neighboring 23-story tower owned by Rudin Management. The site for 350 Park Avenue sits between 51st and 52nd Streets, near the 6 train at 51st Street subway station and the E and M trains at Lexington Avenue-53 Street station.
Given the location and market conditions, Vornado foresees 350 Park Avenue commanding top rents for the proposed Class A office building. However, the scale of the development will depend on the timing and joint venture agreements with Rudin.
“We can build on our own. We don’t need Rudin to build there,” said Michael J. Franco, president of Vornado during the earnings call. “We can build a 1-million-square-foot boutique building on that site on our own, or we can combine with Rudin who is behind this and build close to a 2-million-square-foot building.”
No announcements were made in regard to the architect or the design previously revealed in a brochure created by both Vornado and Rudin.
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Hopefully this goes ahead. It’s about time New York got a twin spired tower and joined Chicago’s party.
Really tall buildings are just so super way cool, but this is yet another unnecessary destruction of a mid-century skyscraper simply for a few people’s obsession with greed.
We are burning our planet down and this kind of extreme wasteful profiteering will just get us there that much faster.
Or you could pave over a few farms in the suburbs for this office space & its parking lot & access roads.
What’s with the “greed” obsession? It’s so tiring. Only unsuccessful people blather about this. Sorry.
Many things can happen between now and 2027.
I hope this pathetic monstrosity never gets built.
Most likely it won’t. But I will go for a better – and much-taller – design that does get built.
This would be a great super tall addition to New York! I really hope it gets done! 1450 feet is pretty good!