Building Now 79% Leased
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 79% leased with several more leases in the pipeline.
“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
This press release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are intended to be covered by the safe harbor provisions thereof. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, are forward-looking statements. Forward-looking statements are not guarantees of future performance and actual results or developments may differ materially, and we caution you not to place undue reliance on such statements. Forward-looking statements are generally identifiable by the use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “project,” “continue,” or the negative of these words, or other similar words or terms.
Forward-looking statements contained in this press release are subject to a number of risks and uncertainties, many of which are beyond our control, that may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by forward-looking statements made by us. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include risks and uncertainties related to the on-going COVID-19 pandemic and the duration and impact it will have on our business and the industry as a whole and the other risks and uncertainties described in our filings with the Securities and Exchange Commission. Except to the extent required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of future events, new information or otherwise.
SLG - LEAS
Source: SL Green Realty Corp.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210504006063/en/
Contacts
Matt DiLiberto
Chief Financial Officer
212.594.2700
