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Citadel Expands Anchor Tenancy at L&L’s 425 Park

Asset management firm Citadel Enterprises is expanding its anchor tenancy at L&L Holding Company’s forthcoming 425 Park Ave. It’s expanding on the commitment it made in 2016 by taking another 120,400 square feet, bringing its total footprint to 331,800 square feet, or nearly half the 47-story tower’s square footage.

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

Levinson and L&L’s David C. Berkey and Andrew Wiener represented ownership in-house. JLL’s Alex Chudnoff, Joseph Messina and Matthew Astrachan advised Citadel.

The project, being designed by Lord Norman Foster, is the first full-block office tower to be constructed on Park Avenue in over 50 years. Construction on the 897-foot tower’s steel superstructure was completed last month.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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