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Citadel expands lease to 330,000 s/f at 425 Park

L&L Holding Company announced that anchor tenant Citadel Enterprises LLC is expanding its tenancy at 425 Park Avenue, the 47-story office tower currently under construction in Midtown’s Plaza District.

Citadel’s presence at the tower will grow to 331,800 s/f, adding to the 211,400 s/f it originally leased in 2016. The firm will take an additional 120,400 s/f across floors 9 and 14, bringing its total footprint to 16 floors.

David Levinson, David C. Berkey and Andrew Wiener of L&L Holding Company represented ownership, while Alex Chudnoff, Joseph Messina and Matthew Astrachan of Jones Lang LaSalle represented Citadel.
Citadel’s expanded commitment at 425 Park Avenue comes on the heels of the completion of the building’s steel superstructure in December 2018.

The project, which is being designed by Pritzker Prize-winning architect Lord Norman Foster, is the first full-block office tower to be constructed on Park Avenue in over half a century. It will rise to 897 feet and be capped off by three ornamental steel and glass fins marking its imprint on the Manhattan skyline.

“Citadel’s decision to expand at 425 Park Avenue is a validation of our commitment to create the most modern, technologically-advanced and collaborative office environment in New York City. It will help Citadel attract and retain an elite and sophisticated workforce,” said L&L Holding chairman and CEO David Levinson.

Located between East 55th and 56th Streets, the new 425 Park Avenue will feature a 45 ft. tall grand lobby, two 38 ft. high setback floors, a 38 ft. glass-enclosed penthouse office, meditation rooms, more than 3,000 ss/f of landscaped outdoor terraces, and a ground-floor restaurant helmed by chef Daniel Humm of Eleven Madison Park and The NoMad.

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