Image via Flickr
In response to pushback, JPMorgan Chase will be redesigning its planned 1,400-foot office tower at 270 Park Avenue with additional open public space, as Crain’s first reported. Under the East Midtown rezoning, new developments are required to provide 10,000 square feet of public space, but because two-thirds of the site sits above the Grand Central Terminal train shed, architects for the project argued they could only come up with 7,000 square feet. This notion was challenged by members of Manhattan Community Board 5 and elected officials. JPMorgan has now agreed to submit new designs increasing the size of the public space to 10,000 square feet and making it an open-air area instead of enclosed as it was in the initial design proposal.
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Image: Jennifer Rotner via Flickr.
Developer TF Cornerstone and investment firm MSD Partners have announced plans to purchase and tear down the Grand Hyatt building adjacent to Grand Central Terminal, the Wall Street Journal reports. The hotel brand will eventually return to the site in a form different from the smoked glass-clad building that was Donald Trump’s first major Manhattan development. In its place will rise a mixed-use project that includes 2 million square feet of high-octane office space. The planned development is one of four new towers in the works as a result of a 2017 Midtown East rezoning aimed at encouraging new office buildings as well as infrastructure improvements in the east side business district.
The times they are a-changin’ in East Midtown
The existing 270 Park Avenue, MikePScott via Flickr
Demolition permits were filed Tuesday for the JPMorgan Chase HQ at 270 Park Avenue, CityRealty reports. The building will be the tallest planned demolition in history. The filing is a significant step for the bank on the way to replacing the 1.5-million-square-foot Modernist tower previously known as the Union Carbide Building with a 2.5-million-square-foot skyscraper, to be designed by British Pritzker Prize winner Norman Foster/Foster + Partners architectural firm.
Down with the old, up with the new
270 Park Avenue enclosed public space (with action); image from City Planning.
In late October, JPMorgan Chase announced the selection of Foster + Partners, led by British Pritzker Prize winner Norman Foster, as the architects of a new 70-story headquarters on the site of its current offices at 270 Park Avenue between East 47th and 48th streets, CityRealty reports. The plan, announced in February, represents the first major project under the 2017 Midtown East Rezoning Plan that upzoned 78 blocks of Midtown to allow for the construction of larger, more modern skyscrapers. The 70-floor, 1,400-foot height would make the new headquarters one of the tallest buildings in the city and the tallest office building by roof height.
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Via MikePScott’s Flickr
JPMorgan Chase has tapped starchitect Norman Foster to design its new 2.5 million-square-foot headquarters at 270 Park Avenue, as first reported by Bloomberg. The new 70-story tower would replace the bank’s current offices, located in the Union Carbide building. Foster + Partners designed the nearby office tower at 425 Park Avenue, as well as Apple’s spaceship-like headquarters in California.
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Image via Wikimedia
In March, the Archdiocese of New York reached a deal to sell 30,000 square feet of development rights from St. Patrick’s Cathedral to MRP Realty and Deutsche Bank, the owners of 405 Park Avenue in Midtown East. But, as Crain’s reported on Thursday, an exclusive men-only club has undercut the Archdiocese by offering the developers the deal at a lower price. The Brook, known for its billionaire clientele, will sell its air rights over its property at 111 East 54th Street to the owners of 405 Park Avenue. The owners plan to use the air rights to add four new floors to the 17-story property, a high-end office building.
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Back in February, 6sqft reported that the Union Carbide Building at 270 Park Avenue–currently the JP Morgan Chase headquarters–was set to be the largest intentionally demolished building in history when plans move forward to replace the 700-foot-tall structure with a tower that will likely rise to over 1,200 feet. ArchDaily brings us a study done by the Council on Tall Buildings and Urban Habitat (CTBUH) that looks at the 100 tallest buildings ever to be demolished by their owners. The study, aptly titled, “Tallest Demolished Buildings,” confirms that if the current plans move forward, Skidmore, Owings & Merrill’s 270 Park Avenue would indeed become the tallest to go down–and the first over 200 meters in height.
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270 Park Avenue via MikePScott’s Flickr
Plans to replace JPMorgan Chase’s current headquarters at 270 Park Avenue with a much taller tower at the same site is facing opposition from architecture and preservation buffs, shortly after the proposal was announced. Not only will the project become the largest intentionally demolished building in history, as YIMBY reported, the landmark-worthy Union Carbide Building was also designed in 1960 by Natalie de Blois, a pioneer of American architecture and one of the few female senior designers at that time. As the first project under the Midtown East rezoning, JPMorgan Chase’s existing 700-foot tall structure will be bulldozed to make way for a tower that will most likely be over 1,200 feet tall.
More this way
A model of what the future 270 Park Ave building might look like via CityRealty
Mayor Bill de Blasio and JPMorgan Chase announced on Wednesday plans to build a new 70-story world headquarters at the site of the bank’s current offices at 270 Park Avenue, the first project under the East Midtown Rezoning plan. Approved by the City Council in August, the rezoning affects 78 blocks running from East 39th Street to East 57th Street and from Third Avenue to Madison Avenue. The updated zoning code is expected to clear the way for 6.5 million square feet of modern office space and allow for taller buildings. JPMorgan Chase’s new building will have enough room for about 15,000 employees, compared to the old building’s capacity of just 3,500 employees.
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