SL Green receives initial TCO for 1.2M sf One Vanderbilt

SL Green Realty, on September 11, was issued it’s initial temporary certificate of occupancy for construction of their 1,298,506-square-foot office building, One Vanderbilt, at 10 Vanderbilt Avenue in Grand Central.

The TCO marks a milestone following years of construction and decades of planning, dating back to when SL Green purchased the first of four properties they combined to assemble the site 21 years ago.

The plans, pre-filed on September 1, 2015, call for the construction of a 1,404-foot tall, 59-story office building. The time from pre-file to TCO was five years.

The project is described in the filings as: new building: 59-story commercial building, as per plans filed herewith.

Central Midtown’s tallest skyscraper ever has numerous retail spaces on the ground floor, as well as an office lobby and eating and drinking establishment. The second floor also has an eating and drinking establishment. Office space occupies floors six through 56, while the top three floors are used as an observation deck complete with a lounge and roof terrace.

SL Green spent $3.3 billion assembling the site and constructing the tower. Hines and the National Pension Service of Korea own minority stakes in the building.

Significant tenants in the building, which is 67 percent leased, include McDermott Will & Emery, which signed a lease in 2018 for 106,000 square feet in space, and TD Bank, which signed a 20-year lease for floors 14 and 20-23 back in 2014.

SL Green signed a loan agreement with lender Wells Fargo Bank valued at $575 million at the property back in July, which was part of the $1.5 billion construction package.

Direct link to Acris document.LINK

Direct link to DOB document.LINK

Direct link to C of O document.LINK

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