Manhattan's high-profile 350 Park Ave. office development is moving forward, with Vornado Realty Trust exercising its option to acquire a 36% stake in the project as demolition advances and a $3.3 billion construction loan is "ready to go," Chief Executive Steven Roth said Tuesday.
High-profile New York tower project moves forward as Vornado takes 36% stake
Construction loan of $3.3 billion is ‘ready to go,’ CEO says
By Andria Cheng
CoStar NewsAugust 4, 2026 | 8:59 P.M.
RELATED ARTICLES
This news story is available exclusively to CoStar subscribers.
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
This news story is available exclusively to CoStar subscribers.
Ready to Learn More?
Sign Up For a Personalized Demo.
Sign Up For a Demo To Learn More.
Already A Subscriber? Sign In
IN THIS ARTICLE
- Properties
- Park Avenue Plaza
55 52nd St, New York, NY
- Citadel Enterprise Building
350 Park Ave, New York, NY
- Companies
- Vornado Realty Trust
Real Estate
- Rudin
Real Estate
- Citadel
Finance and Insurance
- Contacts
- Steven Roth
Chairman of the Board and Chief Executive Officer, Vornado Realty Trust