Greenberg Traurig to Move Center of New York Operations to One Vanderbilt as Early Momentum Builds for New Midtown Icon


SL Green Realty Corp. (NYSE:SLG), New York City’s largest commercial

landlord, today announced that Greenberg Traurig, one of the world’s top

law firms and the largest in the U.S., has signed a long-term lease to

relocate the center of its New York operations to One Vanderbilt Avenue,

the 1,401-foot skyline-shaping icon being constructed by SL Green at the

doorstep to Grand Central Terminal.

The Greenberg Traurig lease signing comes on the heels of the recent

announcement that German financial titans DZ and DVB Banks will take

35,000 square feet at One Vanderbilt, joining leading financial

institution TD Bank and celebrated chef Daniel Boulud as tenants

committing to the building more than two and a half years ahead of

opening. Greenberg Traurig is signing a 15-year lease initially covering

four contiguous floors. One Vanderbilt continues to attract companies

demanding the most state-of-the-art product, further solidifying East

Midtown’s status as the premier office destination in New York for

leading companies from around the world.

“Greenberg Traurig could have gone anywhere in New York and made a major

statement by choosing to stay in East Midtown, reflecting the incredible

demand we’re seeing for new construction in the most commuter-friendly

location in the city,” said Marc Holliday, CEO of SL Green. “East

Midtown is building on its historic status and convenience, with One

Vanderbilt’s location, amenity and infrastructure proving to be a magnet

for the most prestigious companies. We are thrilled to welcome Greenberg

Traurig’s New York operations to the SL Green portfolio.”

“Greenberg Traurig has signed a lease to center its New York area

operations at the extraordinary new project rising at One Vanderbilt,” said

Richard A. Rosenbaum, Executive Chairman of Greenberg Traurig. “This

will be a central part of our strategic plan to position our New York

presence for a fast changing global marketplace. While our plans are in

progress, we expect to use this opportunity to meet client needs by

becoming substantially more efficient, provide for diverse needs and

options, and by incorporating technological innovation, various means of

delivering alternative services and more effective and diverse staffing

and service management. Our firm will once again be a leader by

utilizing both “new law” space planning in this state-of-the-art and

perfectly located project in concert with a combination of alternative

nearby locations to create an office campus which will collectively

provide the most efficient and effective overall solution for our

clients and talent alike. This is what the platform of the future will

look like.”

One Vanderbilt and its architecture firm, Kohn Pedersen Fox (KPF)

Associates, were recognized earlier this month with the prestigious AIA

NY Merit Award in Urban Design. One Vanderbilt construction is ahead of

schedule for delivery in Q3 of 2020 as promised, with a Guaranteed

Maximum Price contract secured, over 95% of the trades bought, and the

pace of construction gaining steam. Since SL Green broke ground on the

1,401-foot building in 2016 the super structure has risen to seven

stories tall and is expected to reach a height of 39 stories by the end

of 2018. The completed building is expected to contain 25,000 tons of

steel fabricated in the U.S.

One Vanderbilt will anchor the modernization of the Midtown business

district, encompassing 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 both LEED Gold under

version 4.0 and WELL certification, the trophy tower will feature

floor-to-ceiling slab heights ranging from 14’6″ to 24′, column-free

floor plates, stunning 360-degree views through floor-to-ceiling windows

and best-in-class infrastructure. It will provide tenants with a

combination of amenities unrivaled in New York City, including a

30,000-square-foot tenant-only amenity floor with outdoor terrace. In

partnership with Boulud, One Vanderbilt will offer a world-class 11,000

square-foot restaurant with private dining opportunities. Immediately

adjacent to the city’s most important transit hub, One Vanderbilt will

provide direct connections to the Grand Central Terminal transit network

and will invest $220 million in infrastructure upgrades to the system.

Barry Gosin and Moshe Sukenik of Newmark Knight Frank represented

Greenberg Traurig in the transaction.

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 June 30, 2017, the

Company held interests in 119 Manhattan buildings totaling 47.4 million

square feet. This included ownership interests in 27.5 million square

feet of Manhattan buildings and debt and preferred equity investments

secured by 19.9 million square feet of buildings. In addition, the

Company held ownership interests in 29 suburban buildings totaling 4.6

million square feet in Brooklyn, Long Island, Westchester County,

Connecticut and New Jersey. 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 or

contact Investor Relations at (212) 594-2700.

About Greenberg Traurig

Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 38 offices

in the United States, Latin America, Europe, Asia and the Middle East.

GT has been recognized for its philanthropic giving, was named the

largest firm in the U.S. by Law360 in 2017, and is among the Top 20 on

the 2017 Am Law Global 100.


SL Green Realty Corp.

Source: SL Green Realty Corp.

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