Construction Advances on Ken Griffin’s 350 Park Ave. Skyscraper as Steel Production Begins

The 350 Park Ave. skyscraper, a 62-story, 1,469-foot tower backed by Ken Griffin, Vornado Realty Trust and the Rudin organization, is moving forward as Banker Steel of Lynchburg, Va., starts fabricating 50,000 tons of structural steel. Simultaneously, demolition of older buildings on Park Avenue and East 52nd Street has commenced, clearing the site for the $4.5 billion development expected to finish in 2032. Citadel and Citadel Securities, two of Griffin’s firms, will serve as anchor tenants, taking up about half of the tower’s 1.8 million square feet.

Foster + Partners is the architect of record. Vornado chairman Steven Roth indicated on a recent earnings call that construction is proceeding on schedule and a $3.3 billion loan is prepared, with the partnership agreement expected to close in September. Earlier, Mayor Zohran Mamdani made a critical comment about Griffin’s $200 million condo ownership, but Griffin and his partners dismissed the remark.