Business & Tech
New JPMorgan Skyscraper Tops Out At 270 Park Ave In Midtown
The all-electric skyscraper is the tallest in the city, and will house about 14,000 employees when it officially opens, the company said.
MIDTOWN, NY —The largest all-electric skyscraper in the city has topped out at 270 Park Avenue, as the 1,388-foot frame for JPMorgan Chase's new headquarters in Midtown is now complete.
On Monday, the company celebrated the final steel beam being raised to complete the framing of the 60-story tower, which will serve as its global headquarters.
Designed by Foster + Partners, the skyscraper features 2.5 million square feet of flexible space, and also a ground-level plaza on Madison Avenue with natural green space and other amenities for employees and nearby residents.
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JPMorgan Chase announced its plans to build the new headquarters in February 2018. The building is expected to open by the end of 2025 to house about 14,000 employees, JPMorgan Chase added.
The City Council rezoned the East Midtown office district in 2017 to allow commercial developers the ability to upgrade the area's aging office building stock.
Find out what's happening in Midtown-Hell's Kitchenfor free with the latest updates from Patch.
In exchange for greater density, developers are required to develop investments to public space and infrastructure. JPMorgan Chase agreed to fund repairs and improvements at Grand Central Terminal, as Patch reported previously.
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