SL Green’s Manhattan Supertall Tops Out

One Vanderbilt. Rendering courtesy of KPF

SL Green Realty Corp. and Hines have topped out the crown of One Vanderbilt, the $3.1 billion supertall skyscraper adjoining Manhattan’s Grand Central Terminal. The 1.6-million-square foot premium office property, which broke ground in late 2016, will rise 1,401 feet above street level upon completion in 2020, making it New York City’s fourth-loftiest building.

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The construction milestone was first reported by New York NIMBY, which anticipates that the 100-foot-tall architectural spire will soon be installed following completion of the tiered steel crown. Designed by Kohn Pedersen Fox Associates (KPF), the property occupies an entire city block bounded by Madison and Vanderbilt avenues, East 43^rd and East 42^nd streets in Midtown Manhattan.

The completed building will feature a 28,000-square-foot observation deck on floors 57 through 59, more than 1.5 million square feet of Class A office space and 104,323 square feet of retail space. One Vanderbilt will be directly connected to Grand Central Terminal, one of the busiest train stations in the world, and SL Green is investing $220 million on infrastructure upgrades to the system.

SL Green builds its new HQ

The landlord leased out 52 percent of the office space by the end of last year, with future tenants including TD Securities, MFA Financial Inc. and law firm McDermott Will & Emery, which will take 105,539 square feet in a 20-year lease. SL Green will also move its headquarters from 420 Lexington Ave. to a 70,000-square-foot space in the new trophy building, which is expected to achieve LEED Gold and WELL certification.

AECOM Tishman is managing the construction of the landmark commercial asset. The National Pension Service of Korea bought a stake in the project from SL Green, New York City’s largest office landlord, in 2017.