JPMorgan Chase to Build New Midtown NYC Headquarters

JPMorgan Chase & Co. plans to build a new 2.5 million square-foot headquarters at 270 Park Ave. in New York City, the first major project under a city rezoning plan designed to rejuvenate the building stock in one of its biggest job centers. According to a story in The Wall Street Journal, the new building would replace the bank’s current 1.5 million square-foot headquarters at the same address and consolidate offices in various places throughout Midtown Manhattan, the bank and city officials said. The new skyscraper is expected to stretch to roughly 70 stories tall and house 15,000 employees. The current facility was designed in the 1950s for about 3,500 employees.