Ken Griffin Of Citadel, Steven Roth Of Vornado Realty Trust, And Rudin Management Secure $3.3B Loan For 350 Park Avenue Office Tower In Manhattan

The asset involved in this transaction is a planned office tower located at 350 Park Avenue in Manhattan. The project is set to encompass a total of 1,800,000 square feet and represents a significant investment in the area with an estimated project cost of $4.5 billion.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $3,300,000,000
• Address: 350 Park Avenue
• Market: Manhattan
• Landlord: Ken Griffin - Citadel; Steven Roth - Vornado Realty Trust; Samantha Rudin Earls & Michael Rudin - Rudin Management Company
• Loan Type: Construction
• Asset Size: 1,800,000 SF

This transaction involved key players such as Ken Griffin representing Citadel, Steven Roth of Vornado Realty Trust, and both Samantha Rudin Earls & Michael Rudin of Rudin Management Company, who secured a construction loan essential for the project’s advancement. Vornado increased its stake in the project to 36%, while Citadel plans to develop approximately 1 million square feet in the building.