newsfilter
← Latest News
GlobeNewswire·

Vornado, Ken Griffin and Rudin Close Joint Venture, 1.05 Million SF Anchor Lease and $3.3 Billion Construction Loan

VNO
  • Vornado Realty Trust, Ken Griffin, & Rudin closed a joint venture for 350 Park Avenue with ownership split as 60% by Ken Griffin, 36% by Vornado, & 4% by Rudin.
  • Citadel Enterprise Americas LLC signed a 1.05 million square foot anchor lease for the 66-story, 1.9 million square foot tower.
  • A $3.3 billion construction loan was secured from a consortium including Wells Fargo, JPMorgan Chase, Bank of America, BMO, ING Capital, PNC Bank, & Standard Chartered Bank.
  • Construction is currently underway on the Foster + Partners-designed tower, which will deliver 850,000 SF of available office space.
  • The project contributes $150 million to maintain St. Patrick's Cathedral & Saint Bartholomew's Church via development rights & provides over $35 million for the East Midtown Public Realm Improvement Fund.
  • 350 Park Avenue received approval through New York City's Uniform Land Use Review Procedure in September 2025.