One Vanderbilt Avenue Opens Its Doors

The SL Green Realty Group and its partners Hines and National Pension Service of Korea has delivered its newest premier property, One Vanderbilt Avenue in New York City adjacent to Grand Central Terminal. The $220 million project is a headquarters-quality office building. It stands 1,401 feet tall and totals 1.7 million square feet. While this is an exciting trophy property, it is delivering to the market in a turbulent time for the New York City, with both leasing and occupancy rates down due to the pandemic.

The good news, the property is already 70% leased to a mix of finance, banking, law and real estate firms. The list of existing tenants is long, but includes TD Securities and TD Bank, America’s Most Convenient Bank, The Carlyle Group, KPS Capital Partners and Oak Hill Advisors, to name a few. The developer’s goal was to create a client-facing campus for multiple and diverse entities to thrive in the city.