Oak Hill Takes 46K SF and Carlyle Group Expands a Third Time at One Vanderbilt
Alternative investment firm Oak Hill Advisors inked a deal to relocate its offices to SL Green Realty Corp.’s under-construction One Vanderbilt skyscraper, while private equity giant The Carlyle Group expanded its presence in the Midtown tower for a third time, the landlord announced.
Oak Hill signed a 15-year lease for 45,954 square feet for the entire 16th floor of the 55-story tower between East 42nd and East 43rd Streets, according to an SL Green (SLG) release.
The firm — which has outposts in London, Australia, Texas, Hong Kong and Luxembourg — will relocate its New York City office from the Grace Building at 1114 Avenue of the Americas to One Vanderbilt in the fourth quarter of 2020.
In the second recent deal, Carlyle increased its presence in the $3.2 billion building again this time by expanding its 15-year lease to add 33,034 square feet on the entire 34th floor, according to SL Green.
Carlyle first signed on to take 95,152 square feet at One Vanderbilt in July 2018 and in March expanded to take another 32,592 square feet. It will now occupy 160,778 square feet on the 34th to 38th floor of the tower.
“We’re excited to welcome Oak Hill Advisors to join an exceptional roster of tenants at One Vanderbilt and we are proud that The Carlyle Group has continued its expansion with us,” Steven Durels, SL Green’s director of leasing, said in a statement. “As a defining part of the New York City skyline, there’s no question that One Vanderbilt has created a new, elevated category of office space in New York.”
The SL Green spokesman declined to provide asking rents in the deals, but they have ranged from $135 to $160 per square foot, as Commercial Observer previously reported.
The Kohn Pedersen Fox-designed skyscraper broke ground in 2016 and topped out in September, according to SL Green.
Robert Alexander, Ryan Alexander, Emily Jones and Alex D’Amario of CBRE (CBRE) brokered both deals for SL Green. Newmark (NMRK) Knight Frank’s Lance Korman, Brian Waterman and Jared Horowitz represented Oak Hill in the deal while JLL (JLL)’s Joseph Messina, Steven Rotter, Greg Lubar, Steven Spartin, Jessica Berkey and Andrew Lutzer handled it for Carlyle.
Spokespeople for CBRE and JLL did not immediately respond to requests for comment. A spokesman for NKF declined to comment.