News
Citadel Considering Anchor Tenant Lease at 425 Park Ave
It looks like Citadel might become the anchor tenant at 425 Park Ave, the first Class-A office tower to be built on the famous thoroughfare in a half-century. The investment advisory firm has opted for a short-term lease renewal for its 120k SF at 601 Lexington Ave. But it's said to be considering a lease for even more space at 425 Park, the New York Post reports. Naturally, 100k-plus SF spaces are a hot commodity in the crowded Midtown market. L&L broke ground on 425 Park Ave last month after receiving a $556M construction loan. The 670k SF Lord Norman Foster-designed building will be 897 feet tall and feature several double-height floors. Asking rents are up to $150/SF. It's expected to deliver in 2018. [NYP]
