JPMorgan Opens All-Electric 60-Story NYC HQ

JPMorgan Chase officially opened its new 60-story global headquarters at 270 Park Avenue in Midtown Manhattan, a copper-toned 2.5 million-square-foot tower that will house about 10,000 of the bank’s New York employees. The Foster + Partners–designed building, with Tishman Speyer as developer manager, replaced the Union Carbide Building after a multi-year demolition and reportedly cost roughly $3–4 billion. The all-electric tower operates with net-zero operational emissions, incorporates advanced smart technology and energy-efficiency features, and contains eight trading floors, large client-entertainment areas, health facilities and new public art commissions. The project created thousands of construction jobs and involved coordination with the MTA to upgrade neighborhood infrastructure and expand public space. JPMorgan plans a major renovation of nearby 383 Madison Avenue as part of the campus renewal, and CEO Jamie Dimon framed the opening as a long-term investment in New York and a reinforcement of the bank’s push for employees to return to the office after the pandemic.