Vornado, Citadel, and Rudin Advance 62-Story Supertall Tower at 350 Park Avenue

Key Points:

• Vornado Realty Trust, Rudin Management, and Citadel have filed plans for a 62-story office tower at 350 Park Avenue in Midtown Manhattan.

• The proposed building will span about 1.8 million square feet, with Citadel and Citadel Securities leasing roughly half the space.

• Designed by Foster + Partners, the tower will feature glass facades, landscaped terraces, and a public concourse.

Vornado, Rudin, and Citadel are moving ahead with plans for a new office skyscraper in Midtown East. The 62-story tower at 350 Park Avenue signals renewed confidence in Manhattan’s high-end office market. Here’s what to know about the plan, the design, and what it means for investors.

Project Overview
The project replaces older office buildings on the Park Avenue block with a 1.8 million-square-foot Class A tower. Citadel and Citadel Securities will serve as anchor tenants, occupying around 850,000 square feet. The design by Foster + Partners introduces floor-to-ceiling glass, flexible office layouts, and modern amenities meant to attract top-tier corporate users.

The plans include a 12,500-square-foot public concourse with landscaping, seating, and art displays. The developers aim to deliver a building that aligns with post-pandemic demand for high-quality, amenity-rich workplaces. The project has entered New York City’s public review process, with completion targeted around 2032.

Investor and Landlord Takeaways
The move represents a clear bet on the future of trophy office space in Manhattan. While much of the city’s office market struggles with vacancy, the 350 Park project demonstrates that demand remains strong for premium properties with top-tier tenants. Citadel’s long-term lease commitment strengthens the project’s foundation and signals that “flight to quality” continues to drive leasing activity.

For landlords, the project underscores the competitive edge of upgrading aging assets in prime submarkets. For brokers, it establishes a new benchmark for Midtown East office product, likely influencing pricing and leasing strategies in surrounding areas.

Why It Matters
The tower will reshape Midtown East and reinforce Park Avenue’s status as a premier corporate corridor. The project fits into New York City’s larger push to modernize older office stock, replacing mid-century buildings with energy-efficient, high-performance towers.

It also highlights how partnerships between developers and anchor tenants can drive major projects even in uncertain market conditions. By securing Citadel early, Vornado and Rudin de-risked the development and set a standard for future large-scale office projects.

Vornado, Rudin, and Citadel’s new 62-story tower is more than a skyline statement—it’s a strategic play on the enduring value of top-tier office real estate in Midtown Manhattan. The project reflects confidence in the city’s long-term appeal to global finance and corporate tenants. Quality, location, and vision remain the winning formula for New York’s next generation of office towers.