425 Park Avenue is one of Manhattan’s most interesting redevelopment projects. Work there is humming along, and today, YIMBY has some new renderings and photos of the construction.
Located on the east side of the avenue, between East 55th and East 56th streets in Midtown, the original 425 Park Avenue office building was designed by Ely Jacques Kahn’s firm Kahn & Jacobs and built between 1954 and 1957. It rose 30 stories to 388 feet and spanned 585,000 square feet.
Now, work is underway by L&L Holding to redevelop the site, partnered with GreenOak Real Estate Advisors and Tokyu Land Corporation. Due to a quirk in city zoning, if the developer chose to demolish the entire original building, something smaller would have to be built in its place. However, by maintaining 25 percent of the original structure, the development team can go bigger — and that’s exactly what they’re doing.
British architect Lord Norman Foster’s Foster + Partners has designed what will read as an essentially new office building, rising 725 feet to the roof and 893 feet to the architectural top. It will span 47 stories and 670,000 square feet.
Demolition work has been completed and new construction has reached the 16th floor, two levels above the first diagrid setback. The next setback will be at the 26th floor, dubbed the Club Floor — a triple-height amenity space complete with a terrace. YIMBY can reveal new renderings for this space.
The Club Floor will be available to all tenants of the building and their guests. It will have wellness center, as well as food service curated by Chef Daniel Humm and restaurateur Will Guidara.
Citadel has already leased 200,000 square feet. Completion of the new 425 Park Avenue is anticipated in the first quarter of 2019.