425 Park Avenue in Midtown Manhattan was redeveloped by L&L Holding and GreenOak Real Estate, with Foster + Partners as designer and AAI Architects as architect of record. Foster was selected through a competition. The original Modernist building by Kahn & Jacobs, 32 stories and 388 ft, opened in 1957. Construction on the new tower began in 2016, it topped out on December 4, 2018, and renovation finished in October 2022.
The tower rises 860 ft (262.1 m) with 670,000 sq ft of floor area, at a cost of $1 billion. Its three tiers have very high ceilings and nearly column-free floors, with roughly 25 percent of the original structure retained. Citadel leases 335,400 sq ft across 16 floors. The Four Twenty Five restaurant opened in December 2023.
The land is leased from the Goelet family under an 84-year lease signed in 2006.
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