Series of milestones achieved for cutting-edge skyscraper at doorstep
of Grand Central Terminal
NEW YORK--(BUSINESS WIRE)--
SL Green Realty Corp. (NYSE:SLG) today announced several construction
milestones in the development of One Vanderbilt Avenue, all of which
demonstrate significant progress toward vertical construction on the
1,401-foot Midtown Manhattan tower soon to rise at the doorstep of Grand
Central Terminal. One Vanderbilt's construction manager AECOM Tishman
has executed a Guaranteed Maximum Price (GMP) contract, which includes
the procurement of more than 25,000 tons of domestically-fabricated
structural steel from Banker Steel Company, a Virginia-based steel
fabrication firm, and secured a New Building Permit from the New York
City Department of Buildings.
"This series of milestones represents the most tangible sign yet that a
new era in Midtown East is close at hand," said Marc Holliday, SL
Green's Chief Executive Officer. "Not only will Manhattan's skyline soon
be getting a spectacular new addition utilizing 100 percent union labor,
but the experience of going to work in Midtown East will improve
dramatically. Along with our joint venture partners—the National Pension
Service of Korea and Hines—we're very much looking forward to beginning
the next phase of this progress that will shape New York's future."
Vertical construction for the 1.7 million-square-foot, 58-floor building
is slated to begin in early May. In February, workers poured 4,200 cubic
yards of concrete into the foundation at One Vanderbilt, which marked
the largest single continuous pour in New York City history. Banker
Steel will be erecting steel that is fabricated at plants located
in South Plainfield, New Jersey and Lynchburg, Virginia. Steel erection
is scheduled to begin July, 2017.
"We build New York's most iconic projects and recognizable buildings
that transform the skyline. There isn't a better example of that than SL
Green's visionary One Vanderbilt," said Jay Badame, President of AECOM
Tishman. "As we move toward vertical construction in May, our team is
looking forward to New York's next great address rising from the ground."
Designed by Kohn Pedersen Fox (KPF) Associates, One Vanderbilt 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. Expected to achieve LEED Gold under version 4.0, the
trophy tower will feature floor-to-ceiling slab heights ranging from
14'6" to 20', column-free floorplates, and stunning 360-degree views
through floor-to-ceiling windows. It will also include a package of
modern office amenities unrivaled in New York City, including a
30,000-square-foot tenant-only amenity floor and outdoor terrace. In
partnership with celebrated Chef Daniel Boulud, One Vanderbilt will
offer a world-class 11,000 square-foot restaurant as well as private
dining opportunities for tenants of the building. Immediately adjacent
to one of the city's key transit hubs, the building will create direct
connections to the Grand Central transit network, which SL Green will
improve through $220 million in public transit upgrades. Construction is
expected to be complete in 2020.
For high-resolution images of construction progress of One Vanderbilt,
images can be downloaded at: http://bit.ly/2ph7kwv.
Photos should be attributed to Max Touhey/SL Green.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City'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 March 31, 2017, SL Green
held interests in 121 Manhattan buildings totaling 47.2 million square
feet. This included ownership interests in 27.5 million square feet of
Manhattan buildings and debt and preferred equity investments secured by
19.7 million square feet of buildings. In addition, SL Green held
ownership interests in 30 suburban buildings totaling 4.8 million square
feet in Brooklyn, Long Island, Westchester County, Connecticut and New
To be added to the Company's distribution list or to obtain the latest
news releases and other Company information, please visit our website at www.slgreen.com
or contact Investor Relations at (212) 594-2700.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170420005835/en/
Nicole Kolinsky, 646-200-5296
Source: SL Green Realty Corp.
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