SL Green

August 17, 2016

Excavation Work Begins at One Vanderbilt, Follow Its Progress on Instagram

Last week, a $1.1 billion lawsuit against One Vanderbilt was settled, giving the green light to the 1,401-foot project. Investors at Grand Central Terminal led the suit, claiming that the tower would divest them of the value of their air rights if developer SL Green was was allowed to proceed with construction as it was cleared to do under the controversial Midtown East Rezoning. Now that it's been dismissed, NY Yimby reports that excavation work is underway at the site of Midtown's future tallest tower, at the corner of 42nd Street and Vanderbilt Avenue. And Curbed points out that architecture buffs can stay apprised of construction progress through the building's new Instagram page.
Check out some construction shots

June 7, 2016

One Vanderbilt Will Cost a Whopping $3.14 Billion

By Dana Schulz

Another supertall tower will join the $3 billion+ club. The Real Deal reports that SL Green Realty has pegged the cost of One Vanderbilt, Midtown's future tallest tower, at $3.14 billion. The city's largest office landlord also said it hopes to close on a $1.5 billion construction loan by the end of the summer, leaving $1.64 in equity needed to complete the 1,401-foot tower designed by Kohn Pedersen Fox. As TRD notes, One World Trade Center became the world's most expensive office tower in 2014 when it opened with a final cost of around $3.8 billion. Bjarke Ingels' planned High Line tower known as the Spiral is also expected to run over $3 billion.
More details this way

December 3, 2015

New Renderings of One Vanderbilt, Midtown’s Future Tallest Office Tower

By Ondel Hylton

The digital production studio Visualhouse has posted on their website our first motion video look at SL Green's 63-story office tower known as One Vanderbilt. Hailed to forever change the face of Midtown East and reinvigorate the business district, the $1 billion-plus, 1.6-million-square-foot tower was unanimously approved by the City Council this past summer, thus granting SL Green the green light to begin construction of the supertower immediately. Visualhouse's newly released renderings provide us with a clearer picture of how the building's full-block base will meet the street, and also remind us just how gargantuan the tower will be. According to the tower's architects Kohn Pedersen Fox (KPF), the tower will rise 1,401 feet to its spire, making it the second tallest building in the city upon completion. However, unlike the pencil-thin supertalls underway around Central Park, the project will throw up a substantial amount of bulk into the air.
See all the renderings

October 12, 2015

New Renderings of One Vanderbilt Show the 1,500-Foot Tall Tower Set in the Skyline

By Diane Pham

Outside of a $1.1 billion lawsuit, news on the One Vanderbilt front has been relatively quiet. The supertall tower received unanimous approval back in May by the City Council and since then demo at the site has been underway. But now, NY Yimby has gotten ahold of some new renderings that offer additional views of the KPF-designed tower—in particular, how the 1,500-foot behemoth will fit in with the existing NYC skyline. Once the building is constructed, it will be one of the tallest skycrapers in the city with a roof height exceeding that of One World Trade's. And as noted by YIMBY, One Vanderbilt will also be the first building in Midtown east to surpass the Chrysler Building in height (which, if you look closely at the above rendering, you can see demurely reflected in the building's glass).
see more here

May 27, 2015

One Vanderbilt Tower Receives Unanimous Approval from City Council

By Diane Pham

This afternoon, SL Green's One Vanderbilt tower received the ultimate green light from the New York City Council, as members voted unanimously in favor of both the construction of the new 1,501-foot tall office building and the rezoning of a five-block stretch of Vanderbilt Avenue (the Vanderbilt Corridor) that would bring with it significant infrastructural upgrades to the area's public transportation. The vote was the last hurdle for the development and is a critical step in the rezoning of a greater area of Midtown East.
Find out more here

REVEALED: SL Green to Build Another Times Square Spectacular at 719 Seventh Avenue

Image courtesy of Akueous Design

April 10, 2015

REVEALED: SL Green to Build Another Times Square Spectacular at 719 Seventh Avenue

By Ondel Hylton

Here's our first look at what commercial heavyweights SL Green have in mind for a small Times Square corner at 719 Seventh Avenue and West 48th Street. Building permits filed earlier this month call for a four-story, 9,000 square-foot retail building designed by TPG Architecture. Demolition permits were filed back in December and the doomed three-story structure is already shrouded in construction netting and scaffolding. The site also shares its Seventh Avenue block-front with Witkoff's upcoming 40-story Marriott Edition Hotel that will flash one of the largest LED displays in the city.
Find out more on the project here

February 5, 2015

Grand Central Owner Enlists Harvard Professor to Stop 1 Vanderbilt and ‘Unconstitutional’ Seizing of His Rights

By Diane Pham

Discord around the construction of One Vanderbilt continues to grow, and the latest contender to enter the ring is Harvard Law professor, "liberal constitutional scholar" and President Barack Obama's former educator, Laurence H. Tribe. Grand Central owner Andrew Penson has tapped the big-time lawyer to battle the city in his fight against the 1,514-foot supertall, according to The New York Times. Yesterday, with Tribe in tow, Penson went head-to-head—yet again—with the tower's developer SL Green at the City Planning Commission hearing. The meeting got as heated as one would expect, and "unconstitutional" and "ridiculous" were just a couple of the words thrown around.
Find out more here

Real Estate Trends

January 30, 2015

Gale Brewer Shows Support for One Vanderbilt, Negotiates Even More Public Improvements

By Diane Pham

Gale Brewer is no shrinking violet when it comes to city planning, and having her on your side is never a bad thing. The borough president of Manhattan has just come out as a full-fledged supporter of not only Midtown East's rezoning, but more notably, One Vanderbilt, the controversial 1,514-foot supertall slated to pop up right next door to Grand Central. Curbed reports that Brewer coupled her approval with an announcement that her office negotiated a slew of additional community benefits from developer SL Green—the developer that has already put up $210 million for the improvement of Grand Central’s subway station.
More on what's included in the plan

New Developments

October 20, 2014

Real Estate Wire: Forest City Selling Their Stake in Barclays Center; Re-zoning for One Vanderbilt Certified

By Diane Pham

Forest City Enterprises is putting its 55% stake in Barclays up for sale. [Brooklyn Eagle] The Department of City Planning certified a five-block rezoning application today for a stretch of Vanderbilt Avenue near Grand Central Terminal that includes SL Green’s One Vanderbilt tower. [CO] Mayor Bill de Blasio has rejected JPMorgan Chase’s request for $1B in […]

Real Estate Trends

October 15, 2014

75% of Grand Central’s $210M Renovation Money Will Go to the 4, 5, 6 Trains

By Diane Pham

New York City's most taxed line is about to get a sizable cash infusion. Of the $210 million that developer SL Green Realty has budgeted for improving Grand Central's subway station for the green light to construct a 65-story office tower next door, more than 75% will go toward the Lexington Avenue line, Crain's reports. Yesterday, a 63-page study was delivered to Manhattan's Community Board 5 and to transportation advocates who have called for Midtown East's rezoning to include improvements to transportation infrastructure to meet current demand as well as the influx of nearly 16,000 workers as new lines are drawn. So where exactly will the money go?
Where will the money will go?

Real Estate Wire: A $400 Million Offer for One Vanderbilt; Three New Towers Coming to the High Line

By Diane Pham

Three new residential towers are coming to the High Line. [TRD] In what some are calling a PR stunt, the owner of Grand Central has offered SL Green $400 million for One Vanderbilt. [NYT] Manhattan commercial real estate is the top ranked in the country. [AMNY] Ridgewood, Queens, the hot new neighborhood dubbed “Quooklyn,” had […]

Real Estate Trends

September 19, 2014

REVEALED: Skyline Views of KPF’s One Vanderbilt Near Grand Central

By Dana Schulz

We've been keeping a close eye on One Vanderbilt, SL Green's new 65-story office tower planned for the entire block west of Grand Central and north of East 42nd Street. Designed by Kohn Pedersen Fox, it will be the second-tallest building in the city when completed. Now, Yimby has hot-off-the-press skyline views of One Vanderbilt from KPF, and the newest NYC supertall certainly stands out amongst the nearby Empire State Building and Chrysler Building.
READ MORE

September 9, 2014

REVEALED: $210 Million Upgrade for Grand Central’s Subway Station As Part of One Vanderbilt Tower

By Dana Schulz

As part of a five-year, $210 million plan to significantly upgrade Grand Central's subway station, developer SL Green hopes to install new staircases to the train platforms, two new street-level entrances and a refurbished mezzanine level, and a 4,000-square-foot ground-level commuter waiting area. The improvements were conceived in conjunction with the MTA and the de Blasio administration earlier this year as the first component of the Midtown East Rezoning project. The transit upgrades must all be completed before tenants can occupy One Vanderbilt (planned for completion in January 2020), SL Green's new 65-story office tower planned for the entire block west of Grand Central and north of East 42nd Street. Designed by Kohn Pederson Fox, the tower will be the second-tallest building in the city when completed.
More on the upgrades ahead

July 22, 2014

Landmarks Deems S.L. Green’s One Vanderbilt Tower ‘Appropriate’ for Its Grand Central Site, Others Not Happy

By Carter B. Horsley

The New York City Landmarks Preservation Commission held a hearing today on a proposal by S.L. Green to build a huge tower on the northwest corner of Vanderbilt Avenue and 42nd Street directly across from Grand Central Terminal. The proposal before the commission was an application for a “certificate of appropriateness” for a transfer of air rights from the former Bowery Savings Bank Building at 110 East 42nd Street between Park and Lexington Avenues. The developers of S.L. Green made their moves by wooing Landmarks with renderings of Kohn Pedersen Fox-designed tower which would be 1,350 feet tall not counting a 100-foot-high spire—this is significantly higher than the Chrysler Building on the northeast corner of Lexington Avenue and 42nd Street and higher than all the supertalls in construction or planned for 57th Street.
Reactions from the hearing this way

June 23, 2014

Your Daily Link Fix: The View from Williamsburg’s New Rooftop Bar; 10 Sullivan Units Hit the Market

By Aisha Carter

A Mechanical Pharaoh Fan: Thanks to Thanko – not done on purpose, we promise – you can experience fanning Pharaoh-style, and you don’t even have to hire servants. Gizmodo spotlights the interesting new fan (lush grapes not included). A New Chef in Town: Brooklyn Magazine has discovered a new restaurant that just opened up under […]

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May 30, 2014

One Vanderbilt: New 65-Story Tower Near Grand Central to Stand Taller Than the Chrysler Building

By Aisha Carter

It looks like the Chrysler Building is about to get a new neighbor. According to the New York Times, SL Green has reportedly proposed the development of a 1,200-foot, 65-story tower that would occupy the block between 42nd and 43rd Streets, and Vanderbilt and Madison Avenues. This proposal will have to undergo a review process as part of a new de Blasio administration plan to rezone an area of Vanderbilt Avenue for larger buildings. De Blasio’s proposal is a 2.0 version of a failed bid by Michael Bloomberg that would rezone an area around Grand Central Terminal. Bloomberg’s proposal – which would affect a 73-block area around the terminal - concerned officials and preservationists, who were concerned that the plan would add to the congestion in the area. Fulfilling one of his campaign promises, de Blasio has devised a plan to mitigate those issues as well as keep the city competitive for decades to come, by creating more office space in the prime business location.
Learn more about the iconic tower's new neighbor

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