Ken Griffin Seals $3.3B Construction Loan for Manhattan Office Tower
The Citadel founder is in a joint venture with Vornado Realty Trust and Rudin for his 66-story building at 350 Park Avenue
By Andrew Coen October 21, 2026 3:23 pm
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Billionaire money manager Ken Griffin now has a firm financial investment in Midtown Manhattan months after a public feud with New York Mayor Zohran Mamdani.
Griffin, as part of a joint venture with Vornado Realty Trust and Rudin, has landed $3.3 billion of construction financing to develop a 66-story office tower at 350 Park Avenue, the sponsorship announced Wednesday.
A lending syndicate led by Wells Fargo and J.P. Morgan Chase originated the loan for the 1.9 million-square-foot building. Griffin will have a 60 percent stake in 350 Park Avenue under the newly formed JV with Vornado holding 36 percent and Rudin 4 percent, the companies also announced.
Griffin’s Citadel financial firm will lease 1.05 million square feet in the new office tower, which is slated for completion in 2032. The remaining 850,000 square feet on the building’s upper floors will be marketed to other tenants, according to the New York Post, which first reported the loan.
The 350 Park deal closed on the heels of Mamdani posting a social media video in April touting a tax on pieds-à-terre in front of Griffin’s penthouse at 220 Central Park South. The move sparked sharp criticism of Mamdani from leading figures in the commercial real estate industry, including Vornado CEO Steven Roth during his first-quarter earnings call in early May.
Wells Fargo and J.P. Morgan did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
