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L&L Tops Out on Park Ave.’s First New Offices in Decades
Park Avenue’s first full-block office tower in half a century has topped out, with lead developer L&L Holding Company’s David Levinson and Robert Lapidus joining architect Lord Norman Foster at a ceremony for their 425 Park Ave. project. L&L acquired the rights to redevelop the Plaza District property in the early 2000s.
“Throughout this process, we have treated 425 Park as a once-in-a-lifetime opportunity to make an indelible mark both on the skyline and within the heart of the world’s most iconic commercial district,” said Lapidus.
At the topping-out ceremony, the final steel beam was lifted 725 feet. The tower will ultimately rise to 897 feet when three ornamental steel and glass fins are added.
About 30% of 425 Park’s office space has already been leased to Ken Griffin’s Citadel LLC. GreenOak Real Estate L.P. is the project’s co-managing partner, while Tokyu Land Corporation is acting as co-equity partner and co-developer.
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