Vornado and Partners Secure $3.3B Loan for 350 Park Avenue Tower

Key Facts

1Vornado Realty Trust, Ken Griffin, and Rudin announced the closing of a joint venture for a trophy office tower at 350 Park Avenue.

2A $3.3 billion construction loan was secured for the 66-story project.

3Citadel Enterprise Americas LLC signed an anchor lease for 1.05 million square feet in the new tower.

Vornado Realty Trust, Ken Griffin, and Rudin announced the closing of a joint venture for a trophy office tower at 350 Park Avenue, GlobeNewswire reported. A $3.3 billion construction loan was secured for the 66-story project, and Citadel Enterprise Americas LLC signed an anchor lease for 1.05 million square feet in the new tower.

VNO closed at $33.11 on October 20, 2026, with the stock trading between a low of $32.24 and a high of $33.18 during that session. The financing supports the development of the 1.9 million square foot tower, demonstrating sustained demand for high-end office space in Manhattan.