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 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.
Source: SL Green Realty Corp.
SL Green Realty Corp.