JPMorgan Chase Unveils New 60-Story New York HQ

JPMorgan Chase has unveiled its new 60-story headquarters to the public — one of the first major office buildings to be constructed after the COVID-19 pandemic and one that will reshape the New York City skyline for decades — Ken Sweet reported for the Associated Press (AP).

JPMorgan expects to house roughly 10,000 of its 24,000 New York-based employees in the new building. (Photo: JPMorgan Chase)

The bronze and steel tower at 270 Park Avenue, which reportedly cost $3 billion, replaced the Union Carbide Building, which occupied a full city block between 47th and 48th Streets and Park and Madison Avenues for nearly 60 years.

JPMorgan expects to house roughly 10,000 of its 24,000 New York-based employees in the new building, with some employees starting their first workday at the tower 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 a testament to our commitment to our clients and employees worldwide,” said Jamie Dimon, CEO and chairman of JPMorgan, in a statement.

The completion of the new 270 Park is a major accomplishment for Dimon, who has been one of the loudest voices calling for employees to return to the office.

The building was designed before the COVID-19 pandemic made remote work more common.