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Originally Posted by JSsocal
I'm getting weary of people saying this building isn't functioning, or it's obsolete. That isn't the issue. This is a LEED platinum building, renovated in 2012. It's more functional then just about any pre-war office building- and yet we love all of those.
No the issue is Chase needs much more space then they have and as a bank Chase wants larger trading floors. This building would be perfectly suitable for numerous other tenants as 277 Park across the street demonstrates. But chase, in lieu of moving to another site, will be using land they've already got (makes sense). Jamie Dimon also seems to want a new shiny trophy headquarters (Not unreasonable).
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I'll just put you in the crowd that doesn't understand the purpose of the district, and I grow weary of trying ti explain it. Yes, Manhattan island is covered with "functioning" buildings. The old tenements were "functioning", but desirable? No. Chase doesn't have to be in east Midtown, but the city made it possible to stay, in the process keeping it's number one business district viable for the companies at the top who need and look for the best there is to offer in terms of modern office space, with all of the amenities that entails.
And we aren't even going to discuss this part:
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JPMorgan Chase’s new building will have enough room for about 15,000 employees, compared to the old building’s capacity of just 3,500 employees.
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https://www.6sqft.com/new-70-story-j...east-rezoning/