Updated October 22, 2025- JPMorgan Chase unveiled its new 60-story headquarters to the public on Monday. The building is one of the first major office buildings to be constructed after the COVID-19 pandemic and one that will remake the New York City skyline for decades.
The bronze and steel tower is located at 270 Park. The building which reportedly cost $3 billion, replaced the Union Carbide Building, which sat on a full city block at 48th Street and Park Avenue for nearly 60 years.
Currently, JPMorgan expects to house roughly 10,000 of its 24,000 New York-based employees in the new building, with employees starting their first workday at the tower at the same time as the company holds its ribbon cutting ceremony.
Other than this new skyscraper, New York still has more to come. New York, also seeks to redefine its skyline with The Big Bend Skyscraper, which will be the world’s longest building. This building will be located in Billionaire’s Row in Midtown Manhattan.
Reported on April 16, 2022
JPMorgan has announced plans to construct 270 Park Avenue, a 60-story skyscraper towering 1,388 feet in Midtown Manhattan, New York, as the banking firm’s new global headquarters. 270 Park Avenue replaces a former structure built in the late 1950s for around 3,500 employees.
Set to be completed by the end of 2025, the office tower project will generate over 8,000 construction jobs during the phase of construction and, when completed, house up to 14,000 people in its 2.5 million square feet of adaptable and collaborative space.
The asset will also provide 2.5 times the amount of outdoor space on the ground floor of Park and Madison avenues, as well as broader walkways and a huge public plaza. A dining hall, a health and wellness center, community areas, HVAC filtration systems, and a conference center will also be included in the office tower.
270 Park Avenue to be an efficient and world-class environment
The 270 Park Avenue will be powered entirely by renewable energy produced from a hydroelectric facility in New York State, resulting in net-zero carbon emissions. Intelligent building systems that employ sensors, AI, and machine learning systems to adapt to energy demands; sophisticated water storage and reuse systems to cut water consumption by more than 40%; and automated solar shades coupled to HVAC systems for increased energy efficiency will be included in the asset. JPMorgan is also recycling, reusing, or upcycling 97 percent of the building materials from the current property’s destruction.
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“With our new headquarters, JPMorgan Chase is making a long-term investment in our business and the future of New York City, while also guaranteeing that we function in a highly efficient and world-class environment for the twenty-first century.” “Among many other things, we are very pleased about the building’s cutting-edge technology, health and wellness services, and public areas,” says Jamie Dimon, chairman, and CEO of JPMorgan Chase.
