JPMorgan Chase to Begin Phased Move-In at New $3B Manhattan HQ This Month
JPMorgan Chase confirmed plans to start moving employees into its new $3 billion, 60-story headquarters at 270 Park Ave. in Manhattan later this month, with a grand opening for the roughly 2.5-million-sq-ft tower expected in October, according to a company spokesman.
Designed by Foster + Partners, the supertall rises to 1,388 ft and is planned to ultimately accommodate up to 14,000 employees, according to the architect and the bank, and billed as New York City’s largest all-electric office tower, designed for net-zero operational emissions with a renewable energy supply.
To advance the project under the city’s Greater East Midtown rezoning, JPMorgan Chase purchased 666,766 sq ft of Grand Central Terminal development rights and paid $41.7 million into the Public Realm Improvement Fund, according to the Dept. of City Planning.
A 2019 text amendment also required creation of a 10,000-sq-ft publicly accessible open space along Madison Ave. with wider sidewalks. In parallel, the Metropolitan Transportation Authority reached agreement with the bank in 2019 to coordinate train-shed repairs beneath the site and a new E. 48th St. entrance, according to Federal Transit Administration oversight reports.
Construction topped out in November 2023. JPMorgan Chase said the structure used approximately 94,000 tons of U.S.-made steel, fabricated and erected by DBM Global subsidiaries Banker Steel and NYC Constructors in partnership with Tishman Construction, now AECOM Tishman. Severud Associates is the structural engineer of record.
The Union Carbide building at 270 Park Ave. was previously a 52-story tower designed by Skidmore, Owings & Merrill and completed in 1960.
Image Credit: CC BY-SA 3.0, Wikimedia
The bank and the architect say building systems employ sensors, AI and machine learning for energy optimization; triple-pane glazing with automated shading; and enhanced fresh-air delivery.
Employee-facing amenities include a multi-level food hub and a fitness center operated by Exos, according to internal materials described by Business Insider; the outlet also reported biometric entry options and a JPMorgan Chase workplace app for services and wayfinding. JPMorgan Chase has not published a detailed public list of day-one amenities.
JPMorgan Chase first unveiled the headquarters plan in April 2022 to replace the former 52-story Union Carbide Building. At that time, the build was estimated to employ more than 8,000 union construction workers across 40 trades throughout delivery. The firm also noted that 97% of materials from demolition were diverted from landfill.
The project was not without it problems. A carpenter employed by subcontractor Certified Interiors Inc. died after falling through a floor opening at the site on March 24, 2023, according to OSHA inspection records. The New York City Dept. of Buildings paused work while the incident was investigated, the agency said in statements reported at the time.
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