JPMorgan Chase & Co.’s new multibillion-dollar Manhattan headquarters has officially opened.
Veteran CEO Jamie Dimon cut the ribbon Tuesday at 270 Park Ave., wrapping up a project announced nearly eight years ago to demolish the old building and build a new one.
“When I say it was a physical labor of love, it really was,” Dimon said. “And now you have something permanent — that will be here for 50 or 100 years.”
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The 60-story building, which will accommodate around 10,000 employees, is the central point of a campus that the largest US bank has been building over several blocks. As employees move in, JPMorgan will begin renovating 383 Madison Ave. — the former Bear Stearns building that has served as a temporary headquarters in recent years. The bank also owns the 250 Park and 410 Madison buildings and leases more than 1 million square feet of office space nearby.
The tower is still in the final stages, with workers building executive offices on the upper floors. The event space on the 57th floor will be the highest occupied commercial floor in New York, according to John Kovacs, director of operations for the New York region at AECOM Tishman, the company responsible for building the tower.
“The remarkable scale and complexity of 270 Park Ave. required a meticulously planned construction operation,” said Kovacs. “This project has set a new standard for what an office building can be, and its presence will inspire a new generation of development and growth for New York City.”
