SL Green Inks Three Leases Covering 81,304 Square Feet at One Vanderbilt Avenue
SL Green Realty Corp. (NYSE: SLG) announced three new leases at One Vanderbilt Avenue, adding to the building's leasing momentum. MSD Partners, Mamoura Holdings, and Nearwater Management signed leases covering 35,567 sq. ft., 28,448 sq. ft., and 17,289 sq. ft. respectively. Now 79% leased, One Vanderbilt is a key player in Manhattan's office market with its prime location and amenities. The building has signed 11 new leases since the pandemic began, reflecting strong demand for modern office spaces in New York City.
- Three new significant leases signed, increasing occupancy to 79%.
- Demand for office space at One Vanderbilt remains strong, with 11 new leases since the pandemic started.
- Potential risks linked to ongoing COVID-19 pandemic affecting future leasing and occupancy rates.
SL Green Realty Corp. (NYSE: SLG), Manhattan’s largest office landlord, today announced three new leases at One Vanderbilt Avenue, the recently opened skyline-defining tower in the heart of East Midtown. MSD Partners, a leading investment adviser, has signed a 35,567-square-foot, 15-year lease covering the entire 26th floor. MSD Partners was formed in 2009 by the partners of MSD Capital which exclusively manages the assets of Michael S. Dell and his family. Mamoura Holdings (US), LLC has signed a 28,448 square foot, 10-year lease covering the entire 51st floor. Mamoura Holdings is wholly owned by Mubadala Investment Company, a sovereign investor managing a diverse portfolio of assets in the UAE and abroad. Additionally, Nearwater Management LLC, a specialty finance company focused on providing asset-based financing solutions, has signed a 17,289-square-foot, 7-year lease covering a portion of the 33rd floor. One Vanderbilt Avenue is now
“The leasing velocity at One Vanderbilt demonstrates the overwhelming demand by leading companies for highly amenitized, new, state-of-the-art office construction that is centrally located near mass transit,” said Steven Durels, Executive Vice President and Director of Leasing and Real Property at SL Green. “We have now signed 11 new leases at One Vanderbilt since the beginning of the pandemic and anticipate leasing velocity to remain strong as New York City’s revitalization continues, employees return to the office and tenants continue to seek new or highly improved office space to meet their future needs.”
Major upcoming milestones for One Vanderbilt include the opening of world-renowned chef Daniel Boulud’s new restaurant, Le Pavillon, on May 19, 2021, which will occupy 11,000 square feet on the second floor, facing Grand Central with a striking view of the Chrysler Building. Additionally, One Vanderbilt’s observation deck, Summit at One Vanderbilt, is set to open this fall bringing visitors a truly unmatched immersive experience and taking them to the highest vantage point in Midtown Manhattan.
Standing 1,401 feet tall, One Vanderbilt is the new headquarters for many of the world’s leading finance, banking, law and real estate firms. The 1.7 million-square-foot skyscraper offers an unparalleled combination of amenities, innovative office design, state-of-the-art technology, best-in-class sustainability and healthy workplace environment together with direct connection to Grand Central Terminal.
Building tenants include TD Securities, a leading banking and investment firm that provides a wide range of capital markets products and services and TD Bank, America's Most Convenient Bank, one of the ten largest banks in the U.S.; private equity firms The Carlyle Group, KPS Capital Partners, Oak Hill Advisors, InTandem Capital, SageWind Capital and Sentinel Capital Partners; prestigious law firms Greenberg Traurig and McDermott Will & Emery; global German financial firm DZ Bank; financial consulting firm Accordion Partners; publicly traded real estate investment trust MFA Financial Inc.; boutique real estate capital markets advisor Hodges Ward Elliott; Walker & Dunlop, LLC, a premier commercial real estate finance company; and SL Green Realty Corp.
All building tenants are afforded access to an amenities package unrivaled in New York City office buildings, including a 30,000-square-foot tenant-only amenity floor with large format meeting spaces, club-style lounge, curated food offerings from Daniel Boulud and an extraordinary, landscaped terrace which overlooks Grand Central Terminal. Office floors feature floor-to-ceiling slab heights ranging from 14.5 feet to 24 feet, column-free floor plates, stunning 360-degree views through floor-to-ceiling windows and best-in-class infrastructure.
Scott Panzer of Jones Lang LaSalle represented MSD Partners. Justin Aronson of CBRE represented Mamoura Holdings. Alexander Chudnoff and Kip Orban of Jones Lang LaSalle represented Nearwater Management. Robert Alexander, Ryan Alexander, Emily Jones and Alex D’Amario of CBRE represented the landlord in each transaction.
About SL Green Realty Corp.
SL Green Realty Corp., Manhattan'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, 2021, SL Green held interests in 84 buildings totaling 37.8 million square feet. This included ownership interests in 28.3 million square feet of Manhattan buildings and 8.7 million square feet securing debt and preferred equity investments.
Forward Looking Statement
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SLG - LEAS
Source: SL Green Realty Corp.
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