SL Green Realty has broken ground on One Vanderbilt Avenue, an office skyscraper that will anchor the modernization of the East Midtown business district and become the second tallest tower in New York City. Constructed next to Grand Central Terminal, One Vanderbilt will include direct access to the city’s mass transit network, improved by $220 million in SL Green financed upgrades. Designed by Kohn Pedersen Fox (KPF) Associates, the mixed-use office tower will encompass an entire city block, bounded by Madison and Vanderbilt Avenues to the west and east, and East 43rd and East 42nd Streets to the north and south. Standing 1,401 feet tall, the building will feature 1.7 million sqf of Class-A office space across 58 column free floors, featuring floor to ceiling windows.
SL Green has signed up TD Bank to a 200,000 sqf lease to anchor the scheme. Hines is SL Green’s development manager and AECOM’s Tishman Construction is the construction manager. Construction of the project is slated to be completed in 2020. “One Vanderbilt will be a high-performing addition to the Manhattan skyline serving as a blueprint for 21st century commercial development,” said SL Green CEO Marc Holliday. “As the largest commercial property owner in New York, we are proud to partner with the City to create a model for unsubsidized development that drives our economy and makes a critical contribution to its infrastructure.”
