Following Rezoning, JPMorgan to Build New Manhattan Headquarters

JPMorgan Chase is preparing to demolish its previous headquarters and build a new skyscraper in its place. While waiting for city approval on the expected 5-year construction plan, JPMorgan is planning to relocate current operations to nearby buildings in Manhattan. Details on costs aren’t being made public, but nearby buildings of similar scale top $3 billion.

The announcement marks the first significant construction process to begin after recent rezoning efforts meant to revitalize midtown Manhattan. The new zoning rules gives private builders the ability to purchase development rights from public property and so build ever taller buildings. All proceeds from said sales go toward transportation and infrastructure efforts.

Manhattan’s density of development makes air rights a tense challenge for developers. Past projects have spent hundreds of millions on securing air rights alone. JPMorgan’s new 70 story headquarters have yet to break ground, but the costs are already climbing.

Follow us on social media for the latest updates in B2B!


BioTech Startups Want to Revive Failed Medicines to Create New Lifesaving Treatments
Behind the Clinical Trials for Non-Alcohol Fatty Liver Disease that Can Benefit 30% of Americans
July 1, 2022
  The Impact Research Institute (IRI) is Waco, Texas’ resource for extending care options for NAFLD (non-alcohol fatty liver disease.) Nadege Gunn is IRI’s Medical Director and President. She Read more
FABTECH Show Kickoff and Overview of Solutions Distributed by DeGeest
June 30, 2022
This is another episode of Manufacturing A Stronger Standard live from FABTECH 2021. Host and President of LestaUSA and DeGeest Corp., Derek DeGeest, talked with Brad Ruppert, Engineering Manager, and Read more
Improving Quality and Bottomline for Finishing Operations
June 30, 2022
This is another episode of Manufacturing A Stronger Standard from FABTECH 2021. Host and President of Lesta USA and Degeest Corp., Derek Degeest, talked with Bill Robinson, President and Kris Bonnegent, Regional Read more