Presented By: SL Green Realty
The Next Level of Office Space
SL Green is not only New York’s largest office landlord; the firm also takes great pride in being the city’s most innovative — never afraid to tackle ambitious developments, implement new technologies and lead the industry in environmental, social and governance policies.
If there’s ever any doubt, look towards the sky at One Vanderbilt Avenue, the Kohn Pedersen Fox-designed tower in Midtown East which topped out at 1,401 feet last month. More than an office building offering incomparable amenities and an unbeatable location, One Vanderbilt will transform the entire neighborhood by investing in subway infrastructure and upgrading the adjacent streetscape into a beautifully landscaped, pedestrian-only plaza. With its unprecedented features, there’s no doubt the skyline-defining tower on Vanderbilt Avenue between 42nd and 43rd streets is emerging as the most prestigious office address in the city.
Even before One Vanderbilt opens, Midtown is reaffirming its standing as the anchor of the city’s commercial market: Second-quarter leasing in the area rose 8 percent from a year ago, while the vacancy rate decreased 50 basis points. One Vanderbilt will undoubtedly accelerate the neighborhood’s momentum, introducing the modern office product tenants demand in the most transit-friendly location. One Vanderbilt connects directly into Grand Central Terminal, providing access to five subway lines, Metro-North trains with access to the northern suburbs and, starting in 2022, Long Island Rail Road trains as part of the upcoming East Side Access project. Navigating around the bustling station will never be easier, given SL Green’s $220 million investment in the station’s infrastructure. Installing wider staircases and additional elevators will drastically improve pedestrian flow and make the station more accessible for all.
Beyond its location, One Vanderbilt stands out for its amenities, which create an elevated category of commercial office space in New York. The tower will feature premier, column-free floors with 14.5- to 24-foot ceilings, incredible 360-degree views through floor-to-ceiling windows, and best-in-class infrastructure. A 30,000-square-foot, tenant-only amenity floor offers large format meeting spaces, a club-style lounge and an extraordinary outdoor terrace.
To help tenants wow their clients and partners, SL Green has joined forces with world-renowned chef Daniel Boulud, who is opening a new, 11,000 square-foot restaurant concept with dazzling 65-foot ceilings in the building. Chef Boulud will also open the fourth location of his grab-and-go restaurant, Épicerie, on the ground floor. This is the award-winning chef’s first partnership with an office building, allowing tenants to have access to a unique and mouth-watering experience without ever leaving the building.
Steven Durels, SL Green’s Executive Vice President and Director of Leasing and Real Property, who has been with the firm since the skyscraper’s groundbreaking, understands how the building will transform New York’s commercial landscape.
He said, “Since One Vanderbilt has topped out, it’s easy to envision why it’s one of the most exciting developments in the country now that the stunning architecture and unobstructed floor plates have come into full view. On pace to be completed under budget and ahead of schedule, the tower represents a new pinnacle of office space in New York and solidifies East Midtown as the country’s premier business district.”
SL Green has also heavily invested in behind-the-scenes infrastructure, elevating One Vanderbilt above its peers. Once completed, the skyscraper will be one of the most sustainable buildings to grace the New York City skyline. The building’s 50,000-gallon rainwater collection and a 1.2-MW cogeneration system particularly impress industry experts; Engineering News Record wrote the building raises “the global standard on sustainable design and construction.” SL Green has also prioritized using construction materials from locally sourced plants, reducing demand on transportation fuel. One Vanderbilt is on track to receive several environmental distinctions, including LEED Gold status under version 4.0 and a WELL platinum certification.
With its central location, astonishing amenities, and industry-setting sustainable infrastructure, One Vanderbilt is already attracting top tenants a year before opening. The 1.7-million-square-foot tower is already over 60 percent leased by prominent firms like TD Securities, TD Bank, Sentinel Capital Partners, KPS Capital Partners, McDermott Will & Emery, The Carlyle Group, Greenberg Traurig, and DZ Bank. While these companies represent varying industries, they all now share something invaluable: a One Vanderbilt address.
Providing enormous value to both tenants and the surrounding community, One Vanderbilt represents the best of new development in New York City. The building epitomizes SL Green’s proven commitment to following a long-term development strategy that anticipates trends in the market. One Vanderbilt is certainly ahead of the curve, and now in just a matter of months, tenants will be able to experience an unprecedented office experience in the heart of Manhattan.