Construction on Citadel\u2019s planned 350 Park Avenue skyscraper in Midtown Manhattan is moving forward despite billionaire founder Ken Griffin\u2019s months-long public feud with New York City Mayor Zohran Mamdani.<\/p>\n
\u201cIf you drive or walk past Park Avenue at 52nd Street, you will see that our 350 Park Avenue site is now under construction, actually under demolition,\u201d Roth said. He added that Vornado plans to participate in the project at its maximum ownership alongside Citadel, which will remain the building\u2019s approximately 1 million-square-foot anchor tenant.<\/p>\n
Project Moves Ahead Despite Earlier Uncertainty<\/p>\n
The latest update marks a significant step for the development after Citadel previously warned it could reconsider the roughly $6 billion project <\/a>amid political tensions surrounding Mamdani\u2019s proposed pied-\u00e0-terre tax. <\/p>\n Citadel Chief Operating Officer Gerald Beeson said at the time the redevelopment was expected to create about 6,000 construction jobs, support more than 15,000 permanent jobs and represent more than $6 billion in investment.<\/p>\n The dispute began after Mamdani promoted his proposed tax on luxury second homes by filming a campaign video outside Griffin\u2019s record-setting $238 million Manhattan penthouse. Griffin later called the video \u201ccreepy and weird\u201d<\/a> and questioned the mayor\u2019s judgment.<\/p>\n Tax Debate Continues as Project Moves Forward<\/p>\n