According to sources familiar with the matter, J.P. Morgan Real Estate Department insiders recently estimated that the total cost of the 270 Park Avenue building is about 6 billion US dollars, including construction, building renovation costs, and various intangible assets related to this building. Earlier, some agencies estimated that the building would cost about 3 billion US dollars. At the ribbon-cutting ceremony last fall, Jamie Dimon said that the construction cost he reported to the board of directors was 4 billion US dollars. J.P. Morgan never disclosed the exact cost or valuation of 270 Park Avenue, and related expenses were not separately listed in financial reports. A person familiar with the matter said that the difference between the 4 billion US dollars mentioned earlier by Dimon and the current estimate of 6 billion US dollars includes hundreds of millions of dollars in technology and infrastructure investment in the building, art procurement costs, land value, and intangible assets such as air rights — J.P. Morgan Chase bought air development rights from surrounding owners to build this tall tower.

According to people familiar with the matter, J.P. Morgan Real Estate Department insiders recently estimated that the overall cost of the 270 Park Avenue building is about 6 billion US dollars, including construction, building renovation costs, and various intangible assets related to this building. Earlier, some agencies estimated that the building would cost about 3 billion US dollars. At the ribbon-cutting ceremony last fall, Jamie Dimon said that the construction cost he reported to the board of directors was 4 billion US dollars. J.P. Morgan never disclosed the exact cost or valuation of 270 Park Avenue, and related expenses were not separately listed in the financial report. A person familiar with the matter said that the difference between the 4 billion US dollars mentioned earlier by Dimon and the current estimate of 6 billion US dollars includes hundreds of millions of dollars in technology and infrastructure investment in the building, art procurement costs, land value, and intangible assets such as air rights — J.P. Morgan Chase bought air development rights from surrounding owners to build this tall tower.