The Real Deal New York

JPMorgan is redesigning 270 Park after pushback over public space

A new design will provide 10K sf of open public space at the base of the bank’s proposed office tower
February 15, 2019 08:07AM

JPMorgan’s Jamie Dimon and 270 Park Avenue (Credit: Getty Images and Google Maps)

JPMorgan Chase is going back to the drawing board.

Following push-back from the local community and politicians over public space, the banking firm is redesigning its new proposed office building at 270 Park Avenue.

The original design for the new 1,400-foot tower, which will be built on the site of their old office building, allotted 7,000 square-feet of external enclosed public space. The bank had previously argued that unique conditions at the site — namely that the block sits above a train shed — made allocated any more space unfeasible.

But members of Manhattan Community Board 5 and elected officials pushed back, demanding more.

A new design will now include 10,000 square feet of open-air public space at the base of the tower, according to new reporting from Crain’s.

“Our team has worked diligently with our architects and other advisors to identify this solution and believe it works for all stakeholders involved as we continue our pursuit of a world class building that serves the needs of our company, the neighborhood and city,” a bank spokesman said in a statement.

The new plan will be debuted later this month at a City Planning Commission meeting, and will then require approval from the City Council.

The decision to demolish the current 52-story tower and rebuild a new 70-story building on the site came after the rezoning of Midtown East. It will allow the company to consolidate employees that are currently scattered across different locations.

[Crain’s] — Decca Muldowney