- 399 Park Avenue
Infobox Skyscraper
building_name = 399 Park Avenue
caption = 399 and Citigroup Center from the west
year_highest =
year_end =
plural =
location =
coordinates = coord|40.759099|-73.971677|format=dms
status =
groundbreaking =
constructed = 1961
est_completion =
opening =
demolished =
destroyed =
use =
antenna_spire =
roof =
top_floor = 160 m / 524 ft
floor_count = 41
elevator_count =
cost =
floor_area = convert|1700000|sqft|m2
architect =Carson Lundin ,Kahn and Jacobs
engineer =
contractor =
developer = First National Bank
owner =Boston Properties
management =
references =399 Park Avenue is a 41-story office building that is the world headquarters of
Citigroup inNew York City .Citigroup's chairman and chief executive officer operate from the building's second floor. The company moved to the building from
55 Wall Street -- a move which marked a migration of several large banks from downtown to midtownManhattan .It occupies the entire block between
Park Avenue andLexington Avenue and53rd Street (Manhattan) and54th Street (Manhattan) The building lot was assembled by
Vincent Astor who initially planned to build a 46-story Astor Plaza on the site. Astor had problems completing the assembly of the lots of mostly residential buildings as a phramacy held out.In 1974 the company opened the
Citigroup Center annex across Lexington the east.In 1987 Citigroup sold one third interest in the building along with two-thirds interest in Citigroup Center to
Dai-Ichi Mutual Life Insurance Company for $670 million. At the time Citigroup said it was moving many of its offices to a new tower inLong Island City in Queens. Citigroup moved out of the top two thirds of the building but kept the lower floors. [ [http://query.nytimes.com/gst/fullpage.html?res=9B0DEFD81730F930A35753C1A961948260&sec=&spon=&pagewanted=all Citicorp Selling Part Offers Headquarter - New York Times ] ]Citigroup later bought back its interest in the building.
In 2002 Boston Properties bought the building for $1.06 billion or $630 square foot which was the highest price ever paid for an office building at the time. Boston also bought Citigroup Center. Citigroup now leases its headquarters from Boston Properties.
References
* [http://www.emporis.com/en/wm/bu/?id=citibankbuilding-newyorkcity-ny-usa199 Emporis profile]
* [http://www.greatgridlock.net/NYC/nyc3.html#132 Greatgridlock.net profile]
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