Iconic tower now 37 percent leased more than two years ahead of opening
NEW YORK--(BUSINESS WIRE)--Jul. 31, 2018-- SL Green Realty Corp. (NYSE:SLG), New York City’s largest office landlord, today announced that The Carlyle Group, a global alternative asset manager, has signed a 15-year lease for 94,367 square feet on floors 36-38 at One Vanderbilt Avenue, the 1,401-foot office tower set to redefine the New York City skyline in East Midtown. One Vanderbilt is now 37 percent leased, meeting SL Green’s end-of-year leasing goal five months early.
The Carlyle Group joins a distinguished roster of top-tier finance, banking and law firms that have committed to One Vanderbilt more than two years ahead of its planned 2020 opening. Other tenants previously announced at the building include: TD Bank with approximately 200,000 square feet of office space; one of the nation’s largest law firms, Greenberg Traurig; leading international law firm McDermott Will & Emery; and global German financial firms DZ and DVB Banks. Award-winning chef Daniel Boulud has partnered with SL Green to create a premier restaurant experience in the building.
“We’re very proud to welcome The Carlyle Group, one of the most distinguished private equity firms, to One Vanderbilt. Carlyle’s decision to locate their primary New York City offices at this world-class building reaffirms our belief in East Midtown as the city’s premier business destination,” saidMarc Holliday, Chief Executive Officer of SL Green. “With construction ahead of schedule and our annual leasing targets already met, One Vanderbilt is on track for a successful opening in 2020.”
“One Vanderbilt is a state-of-the art, amenity-driven building in the heart of Midtown that will provide a welcoming and productive environment for our employees,” said Christopher Finn, Global Head of Operations atThe Carlyle Group. “We look forward to a long and fruitful partnership with SL Green and appreciate the work of our advisors in structuring this long-term lease.”
Earlier this year, the American Institute of Architects (AIA) recognized One Vanderbilt and its architecture firm, Kohn Pedersen Fox (KPF) Associates, with the prestigious AIA NY Merit Award in Urban Design. This month, SL Green announced that One Vanderbilt construction is five weeks ahead of its projected Q3 2020 completion, with construction velocity increasing each day. Since SL Green broke ground on the 1,401-foot building in 2016, the super structure has risen 34 stories and is expected to reach a height of 55 floors by the end of 2018.
Encompassing an entire city block, the building is 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. Anchoring the modernization of East Midtown, One Vanderbilt will provide tenants with a combination of amenities unrivaled in New York City, including a 30,000-square-foot tenant-only amenity floor with large format meeting spaces, club style lounge and extraordinary outdoor terrace. Immediately adjacent to Grand Central Terminal, the building will create direct connections to the surrounding transit network. SL Green is investing an unprecedented $220 million in private funds to upgrade the transit system.
Greg Lubar, Steven Rotter, Joseph Messina, Steven Spartin, Jessica Berkey and Andrew Lutzer of JLL represented The Carlyle Group in the transaction, and Robert Alexander, Ryan Alexander, Sarah Pontius and Emily Jones of CBRE represented the landlord.
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, 2018, SL Green held interests in 116 Manhattan buildings totaling 49.3 million square feet. This included ownership interests in 28.3 million square feet of Manhattan buildings and debt and preferred equity investments secured by 21.1 million square feet of buildings. In addition, SL Green held ownership interests in 21 suburban buildings totaling 2.9 million square feet in Brooklyn, Westchester County, and Connecticut.
About The Carlyle Group
The Carlyle Group (NASDAQ:CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents.
SLG – LEAS
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Source: SL Green Realty Corp.
SL Green Realty Corp.