JPMorgan Chase unveils design for new global headquarters in a new skyscraper on Park Ave in NYC

JPMorgan Chase has unveiled for the first time its design for a new all-electric 60-story skyscraper in the middle of Park Avenue in New York City.

The investment bank unveiled the design of its massive 1,388-foot-tall superstructure, which began construction in 2021 and should be completed by the end of 2025.

Located at 270 Park Avenue in Midtown Manhattan, the $ 3 billion skyscraper will be Big Apple’s largest all-electric tower with net-zero operating emissions.

The sustainable building will be fully powered by renewable energy from a New York State hydropower plant as well as advanced water storage and recycling systems to reduce water consumption by more than 40 percent, Business Wire reported.

The building, designed by British architectural firm Foster + Partners, will have a fan-column structure and triangular bracing that will lift the building about 80 feet off the ground and extend the vantage point from Park Avenue to Madison Avenue.

The skyscraper, which is 500 feet taller than the bank’s formerly, will have enough space for 14,000 employees compared to its predecessor, which was designed for only 3,500.

JPMorgan Chase unveiled the design of its new massive 1,388-foot superstructure, due to be completed by the end of 2025

The building will have a fan-column structure and triangular bracing that will lift the building about 80 feet off the ground

The building will have a fan-column structure and triangular bracing that will lift the building about 80 feet off the ground

The building is to help boost New York City’s economy following the pandemic.

The construction of the building is expected to create 8,000 jobs across 40 unions, and the company is set to create an additional 40,000 jobs across local industries, contributing $ 29.8 billion annually to the city’s economy, according to a Deloitte study.

The soon-to-be-completed skyscraper covers JP Morgan’s CEO Jamie Dimon’s years-long search for a new headquarters tower, The New York Post reported.

The bank was able to settle on the site following the redevelopment of East Midtown in 2017, which allowed larger new towers to go up in exchange for developers’ payments to the city for transit and improvements to the public area, reported Posten.

Located at 270 Park Ave, it will be Big Apple's largest all-electric tower with zero operating emissions.

Located at 270 Park Ave, it will be Big Apple’s largest all-electric tower with zero operating emissions.

The skyscraper, which is 500 feet taller than the bank's formerly, will have enough space for 14,000 employees compared to its predecessor, which was designed for only 3,500

The skyscraper, which is 500 feet taller than the bank’s formerly, will have enough space for 14,000 employees compared to its predecessor, which was designed for only 3,500

“With our new headquarters, JPMorgan Chase is making a long-term investment in our business and the future of New York City, while ensuring that we operate in a highly efficient, world-class environment in the 21st century,” Dimon told Business Wire in a declaration. .

‘We are extremely enthusiastic about the building’s advanced technology, health and wellness facilities and public spaces, among many other features. It has the best location in one of the world’s largest cities. ‘

JP Morgan has reportedly contributed $ 65 million to improvements to the ‘public space’, which includes collaborating with the MTA to create a new street entrance to the Grand Central Terminal, the Post reported.

“It was challenging to lay the foundations of the new headquarters through the historic Grand Central Station and the new LIRR terminal below it, but we could not have a better partner than JPMorgan Chase,” MTA Chairman and CEO Janno Lieber told Business Wire in an announcement.

Chase’s new skyscraper is just one of many that have been appearing on the New York City skyline lately.

Last week, the 84-story Steinway Tower, located at 11 West 57th Street on Billionaires’ Row in Midtown Manhattan, opened its doors to customers.

1,428 feet high and only 57 feet wide, Steinway Tower is only a few meters away from being the tallest residential tower in the world, which is edged by the neighboring Central Park Tower, which stands at 1,550 feet. Manhattan’s own 1,776-foot One World Trade Center is the city’s tallest building.

The recently completed development, which overlooks Central Park, offers 60 apartments – starting at $ 7.75 million for a study unit. The penthouse apartment is listed for $ 66 million.

Steinway Tower was designed to be ‘a project of extraordinary proportions and epic grandeur’, developers told the news media.

“Any preconceived notion that our team had about skyscrapers in New York City development was replaced with an opportunity to do something that had never been done before,” said Gregg Pasquarelli, principal at SHoP Architects.

The architects sought to give a powerful statement with the building, as it elegantly tapered from its apex, which houses a triplex penthouse apartment.

The building’s east and west surfaces have terracotta tiles with bronze accents, as depicted in photos taken by architectural photographer Evan Joseph. Glass curtains lined its north and south walls, facing Central Park and lower Manhattan, respectively.

The design team’s main goal was to create a ‘new and bold interpretation’ of the New York skyline and at the same time commemorate the area’s historical roots.

They drew inspiration from the ‘golden age of the Manhattan skyscraper’ and the city’s art deco history.

The Steinway Tower is an addition to the adjacent Steinway Hall, once a cultural hub of Manhattan.

The landmark Steinway Hall, built in 1925, served as a concert hall and the former headquarters of the piano maker Steinway and Sons. The room has since been converted into luxury homes, which now connect the super-tall, slender tower.

Construction of the Steinway Tower began in 2013 and was completed in 2021. Residents are currently able to move into the complex.

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