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... Some 10,000 employees of the giant US bank are expected to be in place at the midtown building by the end of 2025. The project cost about $3 billion to build and comprises some 2.5 million square feet of office space.

"For all of us it's a labor of love," declared JPMorgan Chief Executive Jamie Dimon just before the symbolic ribbon-cutting at the building referred to as "270" for its address at 270 Park Avenue.

Just five years ago, midtown Manhattan was a wasteland as the pandemic dominated life in a city that had seen some of the darkest times of Covid-19 only months earlier.

Even at the end of 2023, some 19 percent of New York office space remained vacant, according to Cresa.

"Who remembers 2021 when people were questioning the future of office, questioning the future of New York City?" said Rob Speyer of real estate firm Tishman Speyer, a partner on the project. ...