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Deals & Dealmakers

TD Bank to anchor office and retail at One Vanderbilt

SL Green Realty Corp. anounced that TD Bank has signed a long-term lease to become the office and retail anchor tenant at One Vanderbilt, SL Green’s proposed tower adjacent to Grand Central Terminal in Midtown.

TD Bank will occupy 20,000 s/f of One Vanderbilt, including a flagship retail store on the northeast corner of 42nd Street and Madison Avenue. SL Green will deliver TD Bank its space in One Vanderbilt in 2020.

Rendering of SL Green's One Vanderbilt
Rendering of SL Green’s One Vanderbilt

SL Green president Andrew Mathias said: “Securing a major tenant of TD Bank’s caliber more than five years before One Vanderbilt is due to open makes a tremendous statement about this iconic building and the ned for new, modern and eficient ofice space in East Midtown.

“We are grateful to Mayor de Blasio and his administration for their vision in supporting the modernization of the Vanderbilt Corridor and a project that will generate $210 million in public improvements. We look forward to continuing the dialogue with the community, Borough President Brewer, Councilmember Garodnick and other stakeholders as part of the ongoing public review process.”

TD Bank opened its first branch in New York in 2001 and now has 124 branches in the five boroughs, including 16 branches that opened this calendar year alone.

“The move to One Vanderbilt will allow us to consolidate our New York City offices into one regional headquarters, and will offer an outstanding experience and great brand visibility for our employees and our customers,” said Christopher Giamo, Regional President, TD Bank’s Metro New York market.

“This move underscores our commitment to the New York market and solidifies our presence as a major North American financial instiution. With the building designed to exceed LEED Gold requirements under the new LEED 4.0 guidelines, this also aligns with our commitment to reducing carbon emissions as an environmental leader.”

Deputy Mayor for Housing and Economic Development Alicia Glen said: “We’ve set out to ensure East Midtown can compete for the companies and jobs of the 21st century. The announcement that TD Bank will anchor One Vanderbilt is exciting news that will strengthen our position as the global financial capital.”

One Vanderbilt will feature 1.6 million square feet of open LEED-certified Class A office space on the entire block of Vanderbilt Avenue between East 42nd and East 43rd Street.

As part of the development, SL Green will deliver a $210 million package of public transit infrastructure improvements which will create transit connections to Metro-North and 4/5/6/7 and S trains, as well as future East Side Access LIRR lines.

With the majority of funding allocated to upgrading the commuting experience in Grand Central 4/5/6 station, this private investment will improve pedestrian flow, allowing for more trains to enter the station, as well as alleviate crowding and circulation on mezzanine and platform levels.

One Vanderbilt is currently undergoing the City’s formal public review process, expected to conclude next spring.

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