One Vanderbilt: On the Street – Episode 5

One Vanderbilt or 1 Vanderbilt is one of the most exciting projects to hit the New York skyline in quite sometime. Located next to Grand Central Terminal on 42nd and 43rd Street, one (1) Vanderbilt is a soaring skyscraper set to become the 4th tallest building in Manhattan.

As a current member of the Yale Club on Vanderbilt Avenue, I have had the privilege of watching this building develop during the past several years. Not to mention, I frequently visit Chick Fil A across the Street and an occasional Cigar at the legendary Nat Sherman.

Development for this project began in 2015 by Sl Green. The building is set to be completed in 2020.

With 1.6 million square feet, this luxury tower will be home to class A office tenants including the Carlyle Group, TD Bank, SL Green and others.

While We Work and other shared office space Companies continue to expand, it’s great to see luxury office space still in demand in New York City. There is no substitute for premium office space, something that co-working facilities cannot replicate.

In order for the real estate market to function effectively, class A office space must continue to remain of interest for Companies.

At 67 stories, One (1) Vanderbilt will offer an observation deck for those looking for breathtaking views of New York City. There will be a cost for rooftop access, but the final numbers have yet to be determined. I am certain it will be worth the price of admission.

Finally, the location of this project cannot be compromised. With access to LIRR and many other destinations at Grand Central Terminal, One Vanderbilt is the ultimate hub for a successful business operating in the tri-state area.

One Vanderbilt Facts

• 67 Stories
• 1.6 Million square feet
• Observation deck
• Estimated completion 2020

 

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I hope you enjoy this edition of “On the Street”.  Please contact us for your real estate needs.