Citadel’s 350 Park Tower Enters Demolition
Demolition has begun at 350 Park Avenue, where Citadel and its partners are advancing plans for a 1,414-foot supertall office tower in Midtown East.
Scaffolding and blue netting now wrap the existing 30-story midcentury tower. Adjacent buildings at 40 East 52nd Street and 39 East 51st Street are also enclosed for teardown.
Removed windows and façade panels indicate active stripping. Interior gutting is likely underway. The project is planned to deliver 1.8 million square feet of Class A office space. Similar to Dallas’ Uptown market, demand for Class A amenities continues to shape major office investment decisions.
Schedule and Stakes
The construction timeline has shifted from an expected 2026 start to visible activity now. This follows NYC Council approval in late 2025.
Current reports indicate demolition could conclude by March 2027. That would clear the way for foundation work and vertical construction, with tower completion projected for 2032.
The scale of the clearance work signals near-term community impact. It marks the disruptive site-preparation phase of one of Midtown East’s largest commercial redevelopments.
Where the 350 Park Avenue Site Sits
Along Park Avenue in Midtown East, 350 Park Avenue occupies the west side of the avenue between East 51st Street and East 52nd Street at 350 Park Ave, New York, NY 10022.
The site stands in Manhattan’s East Midtown business core, within Community District 5 and the Special Midtown District.
It also falls inside the East Midtown Subdistrict, shaped by the 2017 rezoning.
Project filings identify the assemblage as Block 1287, Lots 21, 27, 28, and 33.
Those parcels span the Park Avenue frontage and include adjacent addresses tied to 39 East 51st Street and 40 East 52nd Street.
Reports describe a property ranging from about 53,000 square feet to 67,831.46 square feet.
The location sits near Grand Central Terminal, surrounded by dense commercial uses, Fifth Avenue retail, and major Midtown East office towers.
The broader office market remains under pressure, with office vacancy in Boston reaching 18.4% by Q3 2025.
What Demolition Work Is Underway Now
At 350 Park Avenue, active site clearance is now visible across nearly half the block. Blue netting and scaffolding wrap the existing 30-storey office building and extend to neighboring properties at 40 East 52nd Street and 39 East 51st Street.
Active Demolition Phase
Crews are now working inside the demolition zone. Full-scale removal has begun on the 1960s-era office tower.
Site signage identifies Waldorf Demolition as the general contractor overseeing this phase. Safety protocols and noise mitigation are guiding daily operations.
The adjacent buildings are also within the demolition footprint. This shows that preparation reaches beyond the main structure.
Timeline and Project Signal
This work is part of early site preparation for the broader $4.5 billion development. It is expected to continue through March 2027.
Demolition progress has also reinforced that the project remains active.
What the 1,414-Foot Citadel Tower Will Include
Rising to roughly 1,414 feet, the planned 62-story tower at 350 Park Avenue is designed as a high-density corporate headquarters.
It will contain about 1.8 million square feet of Class A office space.
Citadel is expected to take roughly 850,000 square feet, with capacity for about 6,000 employees.
This underscores the project’s high employee density and single-tower campus approach.
Design And Public Sphere
Foster + Partners’ scheme uses stepped massing, inward-tapering facades, and seven glass-clad volumes.
Its facade is envisioned with curved glass bays and vertical glass flutes.
Column-free corners are intended to increase daylight and views.
The base includes a 40-foot-tall lobby and about 16,000 square feet of retail.
It will also feature a cafe, a restaurant, and a 12,500-square-foot public plaza.
The plaza is planned with seating, greenery, raised garden beds, and widened sidewalks.
When the 350 Park Avenue Project May Finish
Rudin’s project page identifies the 62-story office development as anticipated for completion in 2032. That target is echoed across coverage from New York YIMBY and other reports published through 2025 and 2026.
Demolition began in 2026 and may continue into early 2027. That sets the stage for the main construction cycle.
| Milestone | Timing |
|---|---|
| Demolition start | 2026 |
| Demolition end | March 2027 |
The current 2032 timeline implies about five to six years of construction after site clearance. That schedule fits a $4.5 billion Midtown East tower of this scale.
Construction risks remain inherent in a complex 62-story build. No provided source points to a later official finish year.
For now, 2032 remains the clearest present expectation for delivery.
Assessment
Demolition at 350 Park Avenue marks a decisive shift in Midtown’s skyline and in the scale of capital targeting Manhattan office development.
The Citadel-backed tower now moves from planning into physical transformation, replacing an aging site with one of the city’s tallest commercial buildings.
If current timelines hold, the project will extend construction disruption for years.
It also advances a high-stakes bet on demand for premium office space in New York’s core business district.
