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Leases

Oak Hill moving to One Vanderbilt, Carlyle Group expanding

SL Green’s One Vanderbilt Avenue

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-s/f lease covering the entire 16th floor. Oak Hill Advisors is an investment firm with approximately $34 billion under management across performing and distressed credit related investments.

In addition, The Carlyle Group, a global investment firm, has expanded its 15-year lease to occupy an additional 33,034 s/f on the entire 34th floor, bringing its total footprint to 160,778 s/f 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.

Construction at the property is more than three months ahead of schedule and $100 million under budget.

Oher tenants at the building include Sentinel Capital Partners, TD Securities and TD Bank, law firms Greenberg Traurig and McDermott, Will & Emery; private equity firm KPS Capital Partners; global German financial firms DZ Bank and DVB Bank; real estate investment trusts MFA Financial and SL Green Realty Corp.

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.

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