JPMorgan Chase unveils new 60-story headquarters, reshaping New York
City's skyline
[October 21, 2025] By
KEN SWEET
NEW YORK (AP) — JPMorgan Chase unveiled its new 60-story headquarters to
the public on Monday, 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 at 270 Park, 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. 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.
“For 225 years, JPMorgan Chase has always been deeply rooted in New York
City. The opening of our new global headquarters is not only a
significant investment in New York, but also testament to our commitment
to our clients and employees worldwide,” said Jamie Dimon, CEO and
chairman of JPMorgan, in a statement.
The building contains 2.5 million square feet and a block’s worth of
public space. The bank also commissioned five new artworks for the
building, adding to the bank’s already substantial art collection. The
bank will house its trading operations in the building across eight
floors.
At 1,388 feet, the new building is taller than the Empire State
Building’s roofline and is now the fourth-largest building in Manhattan.
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Chase Bank ATMs are shown, Thursday, March 25, 2021, in New York.
(AP Photo/Mark Lennihan, File)
 The building was a major engineering
and architectural undertaking by Norman Foster, the building’s lead
architect and Tishman Speyer. Engineers had to systematically
demolish the old Union Carbide building over a period of two years —
the site sits above the rails of the Metro North Railroad and the
Long Island Rail Road that run underneath Park Avenue.
For years, JPMorgan has worked out of several buildings around Grand
Central Station, a result of the bank’s growth and acquisitions over
the years. Corporate execs and investment bankers still use 383
Madison Ave, the former headquarters of Bear Stearns, and 277 Park,
which housed Chemical Bank, also a predecessor of the current
JPMorgan Chase. Parts of JPMorgan started using 270 Park in the
mid-1990s, but the bank always struggled to fit all its operations
in the building. With 270 Park finished, the bank says it will now
start a renovation of 383 Madison.
The completion of 270 Park is a major accomplishment for Dimon, who
has been one of loudest voices about the need for employees to
report to an office for work. The building was designed before the
COVID-19 pandemic and was completed after the pandemic, when remote
work became more common.
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