SL Green Inks Two Leases Covering 65,000 Square Feet at One Vanderbilt Avenue
October 29 2019 - 07:34AM
Business Wire
Oak Hill Advisors Leases Entire 16th Floor
The Carlyle Group Expands for Second Time onto
Entire 34th Floor
Iconic Tower Now 64% Leased
SL Green Realty Corp., New York City’s largest office landlord,
today announced that it has signed two new leases at One Vanderbilt
Avenue. The East Midtown tower, which will open in August 2020,
topped out at 1,401 feet in September and is now 64 percent
leased.
Oak Hill Advisors signed a 15-year, 45,954-square-foot lease
covering the entire 16th floor. Oak Hill Advisors is a leading
alternative investment firm with approximately $34 billion under
management across performing and distressed credit related
investments in North America, Europe and other geographies.
In addition, The Carlyle Group, a global investment firm, has
expanded its 15-year lease to occupy an additional 33,034 square
feet on the entire 34th floor, bringing its total footprint to
160,778 square feet across floors 34 through 38. This marks The
Carlyle Group’s second lease expansion in One Vanderbilt since
signing its initial lease in July 2018.
“We’re excited to welcome Oak Hill Advisors to join an
exceptional roster of tenants at One Vanderbilt and we are proud
that The Carlyle Group has continued its expansion with us,” said
Steven Durels, Executive Vice President and Director of Leasing
and Real Property at SL Green, who added “As a defining part of
the New York City skyline, there’s no question that One Vanderbilt
has created a new, elevated category of office space in New
York.”
Construction is more than three months ahead of schedule and
$100 million under budget on the skyline-defining tower, while SL
Green’s unprecedented $220 million private investment to improve
Grand Central’s public transit infrastructure has already begun to
materialize. Oak Hill Advisors joins a star roster of top-tier
financial, banking and legal firms that have committed to One
Vanderbilt. In addition to The Carlyle Group, other tenants include
Sentinel Capital Partners, a leading private equity firm; TD
Securities and TD Bank, major banking and investment firms which
provide a wide range of capital markets products and services;
prestigious law firms Greenberg Traurig and McDermott, Will &
Emery; private equity firm KPS Capital Partners; global German
financial firms DZ Bank and DVB Bank; publicly traded real estate
investment trusts MFA Financial and SL Green Realty Corp.
Anchoring the modernization of East Midtown, One Vanderbilt will
provide tenants with an impressive slate of amenities unrivaled in
New York City, including a 30,000-square-foot tenant-only amenity
floor with large format meeting spaces, club-style lounge and an
extraordinary outdoor terrace. Immediately adjacent to Grand
Central Terminal, the building will create direct connections to
the surrounding transit network. The building will also include an
11,000-square-foot high-design restaurant from world-renowned chef,
Daniel Boulud.
The American Institute of Architects (AIA) recognized One
Vanderbilt and its architecture firm, Kohn Pedersen Fox (KPF)
Associates, with the prestigious 2018 AIA NY Merit Award in Urban
Design. Encompassing an entire city block, the building is bounded
by Madison and Vanderbilt Avenues to the west and east, and East
43rd and East 42nd Streets to the north and south. Expected to
achieve both LEED Gold under version 4.0 and WELL certification,
the trophy tower will feature floor-to-ceiling slab heights ranging
from 14'6" to 24', column-free floor plates, stunning 360-degree
views through floor-to-ceiling windows and best-in-class
infrastructure.
Lance Korman, Brian Waterman and Jared Horowitz of Newmark
Knight Frank represented Oak Hill Advisors while Joseph Messina,
Steven Rotter, Greg Lubar, Steven Spartin, Jessica Berkey and
Andrew Lutzer of JLL represented The Carlyle Group. Robert
Alexander, Ryan Alexander, Emily Jones and Alex D’Amario of CBRE
represented the landlord for both transactions.
About SL Green Realty
Corp.
SL Green Realty Corp., an S&P 500 company and 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, 2019, SL Green held interests in 93 Manhattan
buildings totaling 45.0 million square feet. This included
ownership interests in 27.2 million square feet of Manhattan
buildings and 17.8 million square feet securing debt and preferred
equity investments. In addition, SL Green held ownership interests
in 7 suburban properties comprised of 15 buildings totaling 2.3
million square feet in Brooklyn, Westchester County, and
Connecticut.
SLG – LEAS
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version on businesswire.com: https://www.businesswire.com/news/home/20191029005584/en/
Investors: Matt DiLiberto Chief Financial Officer SL Green
Realty Corp. (212) 594-2700
Press: BerlinRosen slgreen@berlinrosen.com (646) 452-5637
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