One Vanderbilt Moves toward Vertical Construction

Series of milestones achieved for cutting-edge skyscraper at doorstep

of Grand Central Terminal


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:

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

or contact Investor Relations at (212) 594-2700.


Nicole Kolinsky, 646-200-5296

Source: SL Green Realty Corp.

News Provided by Acquire Media