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Building Occupancy Increased to 73%
SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced a pair of new leases at One Vanderbilt Avenue, the recently opened skyline-defining tower in the heart of East Midtown. Walker & Dunlop, LLC, a premier commercial real estate finance company, has signed a 16,614-square-foot, seven-year lease for a portion of the 33rd floor. Separately, a financial services firm has signed a 26,770-square-foot, 15-year lease for the entire 55th floor. Combined, the leases raise leased occupancy at One Vanderbilt to 73%.
"One Vanderbilt continues to attract industry-leading companies seeking award-winning architecture, a healthy workplace environment, best-in-class amenities, forward thinking technology and exceptional commuter convenience," said Steven Durels, Executive Vice President and Director of Leasing and Real Property at SL Green, who added, "Leasing velocity remains strong with seven leases signed and multiple leases in negotiation since the on-set of the pandemic. This exceptional tenant demand is affirmation that One Vanderbilt has set a new standard for world-class office design."
"We firmly believe that culture and collaboration happen in the office. As a high-growth company known for exceptional customer service and our award-winning corporate culture, we are pleased to open our new Manhattan offices in SL Green’s prestigious new tower. With an unbeatable location and top-notch amenities, it is a perfect fit for our culture," said Aaron Appel, Senior Managing Director & Co-Head of the New York Capital Markets Team at Walker & Dunlop.
Standing 1,401 feet tall, One Vanderbilt is the new headquarters for many of the world’s leading finance, banking, law and real estate firms. The 1.7 million-square-foot skyscraper offers an unparalleled combination of amenities, innovative office design, state-of-the-art technology, best-in-class sustainability and healthy workplace environment together with direct connection to Grand Central Terminal.
Building tenants include TD Securities, a leading banking and investment firm that provides a wide range of capital markets products and services and TD Bank, America's Most Convenient Bank, one of the ten largest banks in the U.S.; private equity firms The Carlyle Group, KPS Capital Partners, Oak Hill Advisors, InTandem Capital, SageWind Capital and Sentinel Capital Partners; prestigious law firms Greenberg Traurig and McDermott Will & Emery; global German financial firm DZ Bank; publicly traded real estate investment trust MFA Financial Inc.; boutique real estate capital markets advisor Hodges Ward Elliott; and SL Green Realty Corp.
All building tenants are afforded access to an amenities package unrivaled in New York City office buildings, including a 30,000-square-foot tenant-only amenity floor with large format meeting spaces, club-style lounge, curated food offerings and an extraordinary outdoor terrace that overlooks Grand Central Terminal. Office floors feature floor-to-ceiling slab heights ranging from 14.5 feet to 24 feet, column-free floor plates, stunning 360-degree views through floor-to-ceiling windows and best-in-class infrastructure.
Additionally, world-renowned chef Daniel Boulud’s new restaurant, ‘Le Pavillon’ will occupy 11,000 square feet, located on the southeast corner of the second floor, facing Grand Central with a striking view of the Chrysler Building.
Emily Jones and Reeves McCall of CBRE represented Walker & Dunlop. Robert Alexander, Ryan Alexander and Alex D’Amario of CBRE represented the landlord in the Walker & Dunlop transaction.
Dale Schlather of Cushman & Wakefield represented the financial services firm. Robert Alexander, Ryan Alexander, Emily Jones and Alex D’Amario of CBRE represented the landlord in this transaction.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of December 31, 2020, SL Green held interests in 88 buildings totaling 38.2 million square feet. This included ownership interests in 28.6 million square feet of Manhattan buildings and 8.7 million square feet securing debt and preferred equity investments.
Forward Looking Statement
This press release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are not guarantees of future performance and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," "project," "continue," or the negative of these words, or other similar words or terms.
Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements are described in our filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, potential risks and uncertainties relating to the novel coronavirus (COVID-19).
SLG - LEAS
Source: SL Green Realty Corp.
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