JPMorgan Chase strikes big air rights deal Bank plans to buy roughly 700K sf from Grand Central Terminal owners
From left: Grand Central, 270 Park Avenue, Michael Dell and Jamie Dimon (Credit: Getty Images)
It looks like JPMorgan Chase will buy nearly 700,000 square feet of air rights from Grand Central to build its new 2.5 million-square-foot office tower in Midtown East.
The company plans to tear down its headquarters at 270 Park Avenue to make way for a new larger tower, following the rezoning of 78 blocks in Midtown East. The bank is negotiating with air rights owners MSD Capital, which oversees assets for Dell Technologies founder, Michael Dell, TF Cornerstone and Argent 上海千花网交友