NEW YORK CITY-The long search is now over. Following a six-monthselection process, a partnership of Lehman BrothersHoldings and L&L Holding Co., themaster leaseholder of 425 Park Ave., has selected Foster +Partners to redesign the office building into astate-of-the-art skyscraper, the companies unveiled in a jointstatement Wednesday morning. Upon completion, it will be the firstnew office tower on Park Avenue in more than 50 years.

Known for their work on the Hearst Tower in Midtown and theWorld Trade Center site in Lower Manhattan, Foster + Partners, aLondon-based architecture firm, will partner with Rogers,Stirk, Harbour + Partners (Lord Richard Rogers),OMA (Rem Koolhaas) and Zaha HadidArchitects to participate in the final conceptual designphase of the competition over the summer.

Later this month, L&L chairman and CEO DavidLevinson and Lord Foster will make a presentation on theconceptual design during the Municipal ArtSociety’s third annual “Summit For New York City” on Oct.19. The two-day summit, which begins on Oct. 18, will also featurean exhibit featuring the 425 Park Avenue design concepts that werepresented by each of the four finalists in the competition. Intotal, 11 firms participated in the challenge.