Iconic East Midtown tower is now 59% leased, maintaining strong
leasing momentum
NEW YORK--(BUSINESS WIRE)--Jun. 3, 2019--
SL Green Realty Corp., New York City’s largest office landlord, today
announced that Sentinel Capital Partners, a leading midmarket private
equity firm, has signed a 28,448 square foot, 15-year lease to occupy
the entire 51st floor at One Vanderbilt Avenue, the
1,401-foot office tower in East Midtown that has redefined the New York
City skyline.
The iconic office tower is now 59 percent leased ahead of its planned
August 2020 opening. Construction on the super structure has reached the
73rd floor with steel construction scheduled to top out in
the summer of 2019.
“We’re proud to welcome Sentinel Capital Partners to One Vanderbilt’s
prestigious roster of tenants,” said Steven Durels, Executive Vice
President and Director of Leasing and Real Property at SL Green. “With
direct access to Grand Central Terminal, unparalleled amenities, column
free floorplates and extraordinary views, One Vanderbilt’s leasing
velocity remains robust as we approach the one year mark from opening.”
“We are excited and thrilled to be establishing our next office home in
a brand new, state-of-the-art building, in a super-convenient location,”
said David Lobel, Founder and Managing Partner at Sentinel Capital
Partners. “We are also highly impressed with the SL Green team, who
has managed our onboarding with the utmost professionalism,” added Lobel.
Sentinel Capital Partners joins a robust roster of top-tier financial,
banking and legal firms that have committed to One Vanderbilt. Other
tenants include: The Carlyle Group, a leading private equity firm; TD
Securities and TD Bank, a leading banking and investment firm that
provides a wide range of capital markets products and services;
prestigious law firms, McDermott, Will & Emery and Greenberg Traurig;
private equity firm KPS Capital Partners; global German financial firms
DZ and DVB Banks; publicly traded real estate investment trust MFA
Financial Inc.; and SL Green Realty Corp. Additionally, award-winning
chef, Daniel Boulud, has partnered with SL Green to create a signature
restaurant experience in the building.
The American Institute of Architects (AIA) recognized One Vanderbilt and
its architecture firm, Kohn Pedersen Fox (KPF) Associates, with the
prestigious 2018 AIA NY Merit Award in Urban Design. 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 an extraordinary outdoor terrace. Immediately adjacent
to Grand Central Terminal, the building will create direct connections
to the surrounding transit network. In addition, SL Green is investing
an unprecedented $220 million in private funds to upgrade the transit
system.
Lance Korman and Brian Waterman of Newmark Grubb Knight Frank
represented Sentinel Capital Partners. 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 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, 2019, SL Green
held interests in 96 Manhattan buildings totaling 46.4 million square
feet. This included ownership interests in 27.7 million square feet of
Manhattan buildings and 18.7 million square feet of buildings securing
debt and preferred equity investments. In addition, SL Green held
ownership interests in 7 suburban properties comprised of 15 suburban
buildings totaling 2.3 million square feet in Brooklyn, Westchester
County, and Connecticut.
SLG-LEAS
View source version on businesswire.com: https://www.businesswire.com/news/home/20190603005423/en/
Source: SL Green Realty Corp.
SL Green Realty Corp.
slgreen@berlinrosen.com
646.452.5637
