{"id":28954,"date":"2020-09-15T06:20:30","date_gmt":"2020-09-15T03:20:30","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=28954"},"modified":"2025-03-25T16:09:26","modified_gmt":"2025-03-25T13:09:26","slug":"one-vanderbilt-opens-business","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/one-vanderbilt-opens-business\/","title":{"rendered":"One Vanderbilt Is Open for Business"},"content":{"rendered":"<p>September 14, 2020, the day that SL Green finally cut the ribbon on its massive Midtown supertall project. Together with design partner Kohn Pedersen Fox \u2014 as well as representatives from the borough of Manhattan and the City of New York \u2014 the developer celebrated the long-awaited completion of One Vanderbilt.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We\u2019re thrilled to announce that <a href=\"https:\/\/twitter.com\/one_vanderbilt?ref_src=twsrc%5Etfw\">@One_Vanderbilt<\/a> is officially open! Designed by <a href=\"https:\/\/twitter.com\/KohnPedersenFox?ref_src=twsrc%5Etfw\">@KohnPedersenFox<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/OneVanderbilt?src=hash&amp;ref_src=twsrc%5Etfw\">#OneVanderbilt<\/a> offers unrivaled access to <a href=\"https:\/\/twitter.com\/GrandCentralNYC?ref_src=twsrc%5Etfw\">@GrandCentralNYC<\/a>, unparalleled amenities for tenants, a new restaurant by <a href=\"https:\/\/twitter.com\/DanielBoulud?ref_src=twsrc%5Etfw\">@DanielBoulud<\/a>, and an observatory. <a href=\"https:\/\/t.co\/MRvM7iNdDW\">pic.twitter.com\/MRvM7iNdDW<\/a><\/p>\n<p>\u2014 SL Green (@SLGreen) <a href=\"https:\/\/twitter.com\/SLGreen\/status\/1305560499480911873?ref_src=twsrc%5Etfw\">September 14, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Marked by a highly unusual time for New York\u2019s central business district, the inauguration of the city\u2019s newest skyscraper was lauded as a renewal of East Midtown. It follows several years during which office leasing activity gravitated mostly in and around Hudson Yards on Manhattan\u2019s west side.<\/p>\n<p>Although current demand for <a href=\"https:\/\/www.commercialcafe.com\/office\/us\/ny\/manhattan\/\" target=\"_blank\" rel=\"noopener noreferrer\">office space for rent in Manhattan<\/a> continues to be, understandably, lower than the norm, the market\u2019s appeal endures. Even throughout the COVID-19 pandemic, One Vanderbilt attracted new tenants. In fact, in Q2, <a href=\"https:\/\/www.commercialcafe.com\/blog\/sl-green-q2-2020-office-lease-midtown\/\" target=\"_blank\" rel=\"noopener noreferrer\">occupancy surpassed 67%<\/a> with the addition of InTandem Capital Partners and Sagewind Capital LLC to the tenant roster, as well as a footprint expansion for previously signed tenant Oak Hill Advisors. Then, in July, SL Green <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-09-14\/manhattan-s-newest-skyscraper-is-opening-up-to-a-dead-midtown\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">announced<\/a> leasing projections of up to 72% by year&#8217;s end \u2014 just 10% lower than the initial 82% occupancy goal for 2020.<\/p>\n<h2>One Vanderbilt Elevates NYC Skyline &amp; Modern Building Standards<\/h2>\n<p>The iconic new skyscraper rises 1,401 feet above Grand Central Terminal \u2014 one of <a href=\"https:\/\/ny.curbed.com\/maps\/new-york-skyscraper-construction-supertalls\/\">fewer than 30<\/a> supertall skyscrapers that are either completed, in construction or planned for the NYC skyline. One Vanderbilt\u2019s design also includes several other notable achievements. To start, the incorporation of: recycled construction materials; U.S.-made steel; and state-of-the-art building technology \u2014 such as 1.2-MW cogeneration and 90,000-gallon rainwater collection systems \u2014 are testaments to SL Green\u2019s commitment to sustainability.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">June 2017: <a href=\"https:\/\/twitter.com\/hashtag\/OneVanderbilt?src=hash&amp;ref_src=twsrc%5Etfw\">#OneVanderbilt<\/a> began its vertical ascent with the installation of the first 20-ton steel column. Virginia-based <a href=\"https:\/\/twitter.com\/BankerSteel?ref_src=twsrc%5Etfw\">@bankersteel<\/a> provided the building\u2019s 26,000 tons of structural steel. <a href=\"https:\/\/t.co\/BENDFKhiPT\">pic.twitter.com\/BENDFKhiPT<\/a><\/p>\n<p>\u2014 One Vanderbilt (@one_vanderbilt) <a href=\"https:\/\/twitter.com\/one_vanderbilt\/status\/1297891596504047616?ref_src=twsrc%5Etfw\">August 24, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nAdditionally, SL Green committed $220 million toward improvements for both subway and commuter train lines, as well as a new 14,000-square-foot pedestrian plaza created on Vanderbilt Ave. between 42nd and 43rd streets. Public transit infrastructure improvements include new staircases and enhanced connections, as well as <a href=\"https:\/\/www.6sqft.com\/in-midtown-1401-foot-one-vanderbilt-is-officially-open\/\">new street-level subway entrances<\/a> and a new, 3,000-square-foot transit hall.<\/p>\n<p>Granted, building a 1.7-million-square-foot, Class A office tower on a tight construction site \u2014 which is also adjacent to, above and connected to one of the busiest transportation hubs in the country \u2014 was an exceptional feat unto itself. However, by employing computer modeling <a href=\"https:\/\/www.thorntontomasetti.com\/project\/one-vanderbilt\">as early as 15 months<\/a> before steel arrived on site \u2014 as well as maintaining close collaboration with the steel manufacturer and project engineers \u2014 the team was able to further shorten the erection schedule, steel fabrication and project completion by approximately eight months.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">October 18, 2016: <a href=\"https:\/\/twitter.com\/SLGreen?ref_src=twsrc%5Etfw\">@SLGreen<\/a> broke ground on <a href=\"https:\/\/twitter.com\/hashtag\/OneVanderbilt?src=hash&amp;ref_src=twsrc%5Etfw\">#OneVanderbilt<\/a>. &#8220;We are proud to partner with the City to create a model for unsubsidized development that drives our economy and makes a critical contribution to its infrastructure.&#8221; <a href=\"https:\/\/twitter.com\/hashtag\/SLGreen?src=hash&amp;ref_src=twsrc%5Etfw\">#SLGreen<\/a> CEO Marc Holliday <a href=\"https:\/\/t.co\/oHbOcljrqd\">pic.twitter.com\/oHbOcljrqd<\/a><\/p>\n<p>\u2014 One Vanderbilt (@one_vanderbilt) <a href=\"https:\/\/twitter.com\/one_vanderbilt\/status\/1296090388504162304?ref_src=twsrc%5Etfw\">August 19, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\u201cWe charged ourself with this challenge, both simple yet profound, to connect the ground to the sky.\u201d James Von Klemperer, President &amp; Design Principal at <a href=\"https:\/\/twitter.com\/hashtag\/KohnPedersenFox?src=hash&amp;ref_src=twsrc%5Etfw\">#KohnPedersenFox<\/a><\/p>\n<p>\u2014 One Vanderbilt (@one_vanderbilt) <a href=\"https:\/\/twitter.com\/one_vanderbilt\/status\/1305537474870104066?ref_src=twsrc%5Etfw\">September 14, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The first tenant move-ins are scheduled to begin in November of this year, while the tower\u2019s observation deck is on track to open in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A developer&#8217;s dream 20 years in the making, SL Green and KPF&#8217;s One Vanderbilt is, at last, officially open for business. The newest skyscraper in town incorporates 1.7 million square feet of class A Manhattan office space and is nearly 70% leased.<\/p>\n","protected":false},"author":48,"featured_media":28411,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,39],"tags":[],"class_list":["post-28954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-office","wpautop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>One Vanderbilt is Officially Complete | CommercialCafe<\/title>\n<meta name=\"description\" content=\"SL Green finally cut the ribbon on its massive East Midtown supertall project. 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