350 Park Avenue

350 Park Avenue is a supertall office redevelopment in Midtown East, Manhattan, led by a partnership between Citadel, Vornado Realty Trust and Rudin, with Citadel holding roughly a 60 percent stake and Vornado a minority position. Designed by Foster + Partners, the roughly 1.8 million square foot Class A tower rises on an assembled site that also absorbs 40 East 52nd Street and 39 East 51st Street, whose existing structures are being demolished to clear the block. Citadel and Citadel Securities, the hedge fund and market maker founded by Ken Griffin, anchor the building as its primary tenant across roughly one million square feet. The New York City Council approved the rezoning unanimously, and the partnership has since closed one of the largest construction financing packages ever arranged in New York City. Vornado has said the project will support about 6,000 construction jobs and more than 15,000 permanent jobs in Midtown East.