Deals·October 21, 2026 at 9:55 AM EDT·2 sources
Ken Griffin’s New NYC Tower Gets $3.3 Billion Construction Loan
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News
debt, log scale$3.3B
$100M$1B$10B$100B
What happened
- Ken Griffin, Vornado Realty Trust and Rudin secured a $3.3 billion construction loan for a new office tower on Manhattan’s Park Avenue.
- The project’s future had been clouded earlier this year after New York Mayor Zohran Mamdani provoked Griffin’s ire.
Construction loan
$3.3 billion
Why it matters
The financing provides a major credit-market commitment to a Manhattan office development, relevant to real estate, lenders and investors assessing office-sector risk.
Deal terms
debt
New York Park Avenue office tower
Value
$3.3B
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Timeline
- First reported by BloombergOct 21Ken Griffin’s New NYC Tower Gets $3.3 Billion Construction Loan
- Commercial Observer reportsOct 21Ken Griffin Seals $3.3B Construction Loan for Manhattan Office Tower
Who is involved
Ken Griffin’s New NYC Tower Gets $3.3 Billion Construction LoanNew York Park Avenue office towertargetVornado Realty TrustVNORudinKen GriffinZohran Mamdani
CompanyPerson
Sources (2)
- BloombergOct 21Ken Griffin’s New NYC Tower Gets $3.3 Billion Construction Loan
- Commercial ObserverOct 21Ken Griffin Seals $3.3B Construction Loan for Manhattan Office Tower
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