SL Green Inks Expansions, New Lease at One Vanderbilt

June 7, 2021

New York Brokerage News Northeast More Office

The deals total 124,000 square feet at the Midtown Manhattan office tower.

One Vanderbilt. Image courtesy of SL Green Realty Corp.

SL Green has signed lease deals totaling nearly 124,000 square feet at One Vanderbilt, the recently built Midtown Manhattan office tower, the company announced today. The news comes three weeks after SL Green announced it had signed IBM spinoff Kyndryl to a nine-year, 22,531-square-foot lease at the property.

The largest of the deals is a new, 15-year lease for 97,652 square feet spanning floors 63-66. SL Green had no comment on the identity of the tenant.

The other leases are existing tenants adding to their space at the office tower. TD Securities will expand its footprint to 142,892 square feet at One Vanderbilt with a 24,020-square-foot, 20-year lease expansion that covers a portion of the 11^th floor, while InTandem Capital Partners and Sagewind Capital signed a joint lease expansion agreement for 2,163 square feet in a 7-year lease on part of the 24^th floor. The deal increases the companies’ footprint at the property to 12,328 square feet.

With the new deals, the tower is now 89 percent leased, SL Green said in an announcement. One Vanderbilt opened last September and has drawn a variety of tenants to its roster, including TD Bank, The Carlyle Group, Oak Hill Advisors and McDermott Will & Emery. The $3.3 billion office tower spans an entire city block, rising 1,401 feet next to Grand Central Terminal in Midtown. SL Green first broke ground on the 1.7 million-square-foot skyscraper, New York City’s second-tallest office building, in 2016.

Along with its partners National Pension Service of Korea and Hines, SL Green is in the midst of a major office redevelopment project in Midtown South. One Madison Avenue calls for constructing a 26-story, 530,000-square-foot office tower above an existing nine-story podium just across from Madison Square Park. Last fall, the development team closed on a $1.3 billion construction loan for the redevelopment project.