Vornado, Ken Griffin and Rudin Close Joint Venture, 1.05 Million SF Anchor Lease and $3.3 Billion Construction Loan
Vornado, Ken Griffin and Rudin closed their 350 Park Avenue joint venture, with ownership split 60% Griffin, 36% Vornado and 4% Rudin, and construction is underway. Citadel Enterprise Americas signed a 1.05 million square foot anchor lease, and the venture closed a $3.3 billion construction loan from a seven-bank group led by Wells Fargo, JPMorgan and Bank of America.
Key figures
- Deal Value Usd
- $3.3 billion construction loan
- Stories
- 66
- Tower total sf
- 1.9 million
- Anchor lease sf
- 1050000
- Tower height feet
- 1400
- Rudin ownership pct
- 4%
- Griffin ownership pct
- 60%
- Vornado ownership pct
- 36%
- Available high rise sf
- 850000
- Development rights payment
- $150 million
- Public realm fund contribution
- $35 million
AI analysis
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