New World Class Development with $210 Million of Public Transit
Improvements
NEW YORK–(BUSINESS WIRE)–
SL Green Realty Corp. (NYSE:SLG) today announced that TD Bank has signed
a long-term lease to become the office and retail anchor tenant at One
Vanderbilt, SL Green’s proposed tower adjacent to Grand Central Terminal
in the heart of New York’s Midtown commercial district. TD Bank will
occupy approximately 200,000 square feet of space in One Vanderbilt,
including a flagship retail store on the northeast corner of 42nd
Street and Madison Avenue, demonstrating TD Bank’s commitment to East
Midtown. SL Green will deliver TD Bank its space in One Vanderbilt in
2020.
SL Green President Andrew Mathias said, “Securing a major tenant of TD
Bank’s caliber more than five years before One Vanderbilt is due to open
makes a tremendous statement about this iconic building and the need for
new, modern and efficient office space in East Midtown. We are grateful
to Mayor de Blasio and his administration for their vision in supporting
the modernization of the Vanderbilt Corridor and a project that will
generate $210 million in public improvements. We look forward to
continuing the dialogue with the community, Borough President Brewer,
Council Member Garodnick and other stakeholders as part of the ongoing
public review process.”
TD Bank is one of the 10 largest banks in the U.S., providing more than
8 million customers with a full range of retail, small business and
commercial banking products and services. TD Bank opened its first
branch in New York in 2001 and now has 124 branches in the five
boroughs, including 16 branches that opened this calendar year alone.
“The move to One Vanderbilt will allow us to consolidate our New York
City offices into one regional headquarters, and will offer an
outstanding experience and great brand visibility for our employees and
our customers,” said Christopher Giamo, Regional President, TD Bank’s
Metro New York market. “This move underscores our commitment to the New
York market and solidifies our presence as a major North American
financial institution. With the building designed to exceed LEED Gold
requirements under the new LEED 4.0 guidelines, this also aligns with
our commitment to reducing carbon emissions as an environmental leader.”
Deputy Mayor for Housing and Economic Development Alicia Glen said:
“We’ve set out to ensure East Midtown can compete for the companies and
jobs of the 21st century. The announcement that TD Bank will anchor One
Vanderbilt is exciting news that will strengthen our position as the
global financial capital. And what’s significant is that TD Bank has
made this choice, not because of tax breaks or subsidies, but because of
sound investments we are fostering in new office space and
infrastructure. This is a model for how we intend to keep our economy
growing.”
One Vanderbilt will feature 1.6 million square feet of open and
efficient LEED-certified Class A office space on the entire block of
Vanderbilt Avenue between East 42nd and East 43rd
Street. As part of the development, SL Green will deliver a $210 million
package of public transit infrastructure improvements which will create
critically-needed transit connections to Metro-North and 4/5/6/7 and S
trains, as well as future East Side Access LIRR lines. With the vast
majority of funding allocated to upgrading the commuting experience in
the over-burdened Grand Central 4/5/6 station, this unprecedented
private investment will significantly improve pedestrian flow, allowing
for more trains to enter the station, as well as alleviate crowding and
circulation on mezzanine and platform levels. One Vanderbilt is
currently undergoing the City’s formal public review process, expected
to conclude next spring.
About SL Green
SL Green Realty Corp., 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 September 30, 2014, SL Green held interests
in 96 Manhattan buildings totaling 44.1 million square feet. This
included ownership interests in 28.0 million square feet of commercial
buildings and debt and preferred equity investments secured by 16.1
million square feet of buildings. In addition to its Manhattan
investments, SL Green held ownership interests in 35 suburban buildings
totaling 5.9 million square feet in Brooklyn, Long Island, Westchester
County, Connecticut and New Jersey. For more information, please visit: https://slgreen.com.
About TD Bank
TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks
in the U.S., providing more than 8 million customers with a full range
of retail, small business and commercial banking products and services
at approximately 1,300 convenient locations throughout the Northeast,
Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD
Bank and its subsidiaries offer customized private banking and wealth
management services through TD Wealth®, and vehicle financing
and dealer commercial services through TD Auto Finance. TD Bank is
headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com.
Find TD Bank on Facebook at www.facebook.com/TDBank and
on Twitter at www.twitter.com/TDBank_US.
TD Bank, America’s Most Convenient Bank, is a member of TD Bank Group
and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top
10 financial services company in North America. The Toronto-Dominion
Bank trades on the New York and Toronto stock exchanges under the ticker
symbol “TD”. To learn more, visit www.td.com.
SLG-LEAS
For SL Green Realty Corp.
Nicole Kolinsky (nicole.kolinsky@berlinrosen.com)
or
Jeremy
Soffin (jeremy@berlinrosen.com)
646-452-5637
Source: SL Green Realty Corp.
News Provided by Acquire Media