Vornado, Ken Griffin and Rudin Close Joint Venture, 1.05 Million SF Anchor Lease and $3.3 Billion Construction Loan
Globe Newswire•21/10/2026•09:09 ET
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Key Highlights
- ➤Citadel Enterprise Americas leases 1.05 million square feet at 350 Park Avenue
- ➤$3.3 billion construction loan closes for 350 Park Avenue tower
- ➤Ken Griffin affiliate owns 60% of the joint venture
- ➤Vornado owns 36% and Rudin owns 4% of the joint venture
- ➤Construction underway on 66-story, 1.9 million-square-foot Manhattan tower
66-story, 1,400 foot trophy tower will deliver more than 1.9 million square feet of world-class office space and luxury amenities – setting a new standard in New York City
Vornado Realty Trust (NYSE: VNO), Ken Griffin and Rudin today announced: * The closing of their 350 Park Avenue joint venture with ownership comprised of 60% by an affiliate of Ken Griffin, the founder and CEO of Citadel, 36% by Vornado and 4% by Rudin; * Execution of a 1.05 million square foot anchor tenant lease with global investment firm Citadel Enterprise Americas LLC; * Closing of a $3.3 billion construction loan Construction of the tower is underway.
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