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Deals & Dealmakers

SL Green signs 105,000 s/f deal at One Vanderbilt

SL Green announced that McDermott Will & Emery LLP, an international law firm, has signed a 20-year lease for 105,539 s/f at One Vanderbilt Avenue.

McDermott Will & Emery will relocate its New York operations to the 1,401 ft. skyscraper, taking floors 44 through 46 and floor 67.

One Vanderbilt is currently 31 percent leased, two years ahead of its planned 2020 opening and on track to meet SL Green’s goal of 37 percent leased by the end of 2018.

“Global business leaders like McDermott Will & Emery are choosing One Vanderbilt because it offers the most advanced and amenitized new office construction right at the doorstep to Grand Central Terminal in the heart of East Midtown,” said Andrew Mathias, President of SL Green.

ANDREW MATHIAS

“The momentum we’re seeing at One Vanderbilt, two years ahead of opening, reaffirms East Midtown’s position as the premier business destination in New York. We’re delighted to welcome McDermott Will & Emery into the SL Green portfolio and help advance their strategic goals at One Vanderbilt.”

“As a firm, we are inspired by innovation and are excited to put our brand on a building that reflects that,” said John Yoshimura, Chief

Operating Officer of McDermott Will & Emery. “We have significantly grown our footprint and diversified our client offerings in New York, and we’re confident that the move to One Vanderbilt will help us build an even more formidable presence in the city.”

Earlier this year, the American Institute of Architects (AIA) recognized One Vanderbilt and its architecture firm, Kohn Pedersen Fox (KPF) Associates, with the prestigious AIA NY Merit Award in Urban Design.

The building has attracted industry leading tenants in finance and law, as well as renowned chef Daniel Boulud, who will operate an 11,000 s/f restaurant and café.

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 ft., column-free floor plates, 360-degree views through floor-to-ceiling windows and best-in-class infrastructure.

Anchoring the modernization of East Midtown, One Vanderbilt will provide tenants with a combination of amenities, including a 30,000 s/f tenant-only amenity floor with outdoor terrace.

Immediately adjacent to Grand Central Terminal, the building will create direct connections to the surrounding transit network and SL Green will invest $220 million in infrastructure upgrades to the system.

Moshe Sukenik and Noel Flagg of Newmark Knight Frank represented McDermott Will & Emery and Robert Alexander, Sarah Pontius, Ryan Alexander and Emily Jones of CBRE represented the landlord in the transaction.

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