Citadel Reportedly onto L&L’s 425 Park Avenue

July 8, 2015

Lance Leighton

Co-Founder –
Senior Managing Director, Savills
New York State Licensed Real Estate Salesperson

Call 212-326-8668

The most highly anticipated office tower in The Plaza District might soon have an anchor tenant.

425 Park Avenue, L&L’s proposed office tower on 56th Street and Park Avenue, will undoubtedly become one of the most coveted addresses in New York City and the entire world. The glass and steel office tower is now well under construction and slated to be the first brand new development on Park Avenue in over 50 years.  Similar to other new office buildings in Manhattan (a la 510 Madison Avenue, 7 Bryant Park, One Bryant Park, etc.) the building will showcase all of the amenities and finishes that modern tenants have grown to desire.  For instance, the asset will offer floor-to-ceiling windows, extra-high ceilings, highly efficient & virtually column-free floorplates, a jaw-dropping lobby on Park Avenue, common spaces, and unobstructed views from the higher portion of the building. Additionally, L&L has already committed to bringing in the operators of 11 Madison Park, Daniel Humm and Will Guidara, who will operate the retail component/restaurant. Accordingly, it is no surprise that one of the largest hedge funds in the world, Citadel, is sniffing around to be the first tenant to anchor the upcoming trophy office building.

According to today’s New York Post, the Chicago based hedge fund, led by superstar Portfolio Manager Ken Griffin, inked a short-term renewal at Boston Properties’ 601 Lexington Avenue in anticipation of seeking more space at L&L’s new prize.  Per Lois Weiss, the building will be ready for occupancy in 2018 and feature several atrium-like double-height floors with pricing starting at about $150+ per square foot.  Grab some popcorn and check out the incredible video below.

Looking for office space in The Plaza District or on Park Avenue? Click here for our free search.

Recent Posts

Year in Review – The Largest Office Relocations

  • By Lance Leighton | January  05,  2018

BlackRock, Bank of America and Third Point had Midtown Manhattan's most notable new leases. There is no question that 2017 was a solid year for New York City commercial real…

What Are The Benefits of Having Tenant Representation

  • By Lance Leighton | May  24,  2012

Tips for Choosing a Tenant Representation Office Space Broker Office space is one of the most meaningful and influential decisions for a company's executive.  Depending on the size of the…

Two Financial Tenants Sign Deals in Two Adjacent

  • By Lance Leighton | August  08,  2012

Hua Nan Commercial Bank, 330 Madison Avenue - The gleaming office tower on the corner of 42nd Street and Madison Avenue, recently underwent major renovations.  As a result, it has…