Developers propose 350 Park Avenue: new 1.4M sq ft office tower with 12,500 sq ft public concourse; public hearing closed and item laid over

The subcommittee received a presentation for LU‑351/352 on a proposed redevelopment of 350 Park Avenue in East Midtown that would replace existing buildings with a new approximately 1.4 million square foot office tower. The applicant team — led by Barry Langer of Vornado Realty Trust and land‑use counsel Zach Bernstein of Fried Frank — said the project is expected to secure anchor tenant Citadel and Citadel Securities for roughly 850,000 rentable square feet, create an estimated 15,000 permanent jobs in the building and produce about 6,000 construction jobs during the seven‑year development timeline.

Public concourse and public benefits: The design by Foster + Partners would carve a 12,500‑square‑foot public concourse along Park Avenue, with plantings, seating, two water features and transparency to views of adjacent landmarks such as St. Bartholomew's and the Racquet Club. The team said the project would contribute approximately $36 million to the East Midtown public realm fund and roughly $150 million in transfers and preservation funds to help maintain St. Patrick’s Cathedral and St. Bartholomew’s Church.

Zoning and waivers: The applicants described the East Midtown zoning tools that permit as‑of‑right FAR and additional bonuses tied to public concourses; they requested two special permits: a public concourse floor area bonus (approximately 200,000 sq ft of bonus FAR) and waivers/modifications to height/setback and qualifying‑site rules to enable the building’s sculpted base and the large concourse. The design team said that removing corner columns and recessing tree pits into the shuttered train‑shed area would open circulation and views and reduce barriers between sidewalk and concourse.

Transportation and coordination with MTA: The team described ongoing coordination with the Metropolitan Transportation Authority and said only the easternmost 50 feet of the site footprint is over the Park Avenue train shed; they indicated the area beneath the site was not active track space during East Side Access construction but noted continuing coordination would be necessary. The applicant said demolition would begin in 2026, that most of the site behind Park Avenue is vacant today, and that the new building is expected to deliver in 2032.

Public testimony and endorsements: Public testimony included support from labor and business organizations and St. Bartholomew’s Church, which emphasized proceeds from transferable development rights would support maintenance and outreach programs. The Grand Central Partnership, Association for a Better New York and SEIU Local 32BJ submitted or delivered statements supporting the project’s job creation, preservation funding and public concourse. The subcommittee closed public testimony and laid the items over; no vote was taken at this hearing.

Ending: The applicants said they will continue coordination with the MTA, the City Planning Commission, Design Commission and the Borough President as the project moves toward potential approvals.