JPMorgan Chase office tower at 270 Park Avenue cost 6 billion dollars
New estimates indicate that JPMorgan Chase spent 6 billion dollars on its 270 Park Avenue office tower, making it likely the most expensive office building in New York City.
FTMQ Real Estate, written by our newsroom0 views
New estimates reported by the Wall Street Journal show that the JPMorgan Chase office tower at 270 Park Avenue in New York City cost 6 billion dollars to construct. Curbed reported that this figure likely makes the skyscraper the most expensive office tower built in the city to date. [1]
The Norman Foster designed skyscraper opened last fall and serves as the headquarters for JPMorgan Chase. The bank previously offered evasive estimates ranging between 3 billion dollars and 4 billion dollars for the development, according to Curbed. [1]
The high end property includes luxury features such as large artworks by Gerhard Richter and Maya Lin, as well as an indoor flagpole. Bank executives declared the building to be a physical manifestation of the values of the firm, Curbed reported. [1]
The total expenditure places the development cost billions of dollars above other recent high end office projects in the city, according to Curbed. [1]
In short
- JPMorgan Chase built a Norman Foster designed office tower at 270 Park Avenue.
- New estimates reported by the Wall Street Journal indicate the tower cost 6 billion dollars.
- JPMorgan Chase previously gave ballpark figures of 3 billion to 4 billion dollars.
- The 6 billion dollar cost likely makes 270 Park Avenue the most expensive office tower in New York City.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]270 Park May Be New York’s Most Expensive Office TowerCurbed, 4d ago (the report this story comes from)
Background
- [2]List of parks in New York City on Wikipedia
- [3]List of most expensive buildings on Wikipedia
- [4]Denver Tech Center office tower sells after fourteen years FTMQ Real Estate, 23d ago
Our newsroom writes these reports with the help of software, from the 4 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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Earlier reports of ours on the same people and subjects.
- Castle Hook Partners Sets New York Office Lease Record At 625 MadisonCommercial Property, 29d ago
- Denver Tech Center office tower sells after fourteen yearsCommercial Property, 23d ago
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