SL Green Scores Major Tenant For One Vanderbilt
Law firm Greenberg Traurig inked a big lease at SL Green’s One Vanderbilt, a major coup for its office tower in Midtown.
The firm will take four contiguous floors in the building, it announced Friday morning. The asking rents and square footage were not made public. Floor plates in the building range from 20K to 40K SF.
Greenberg Traurig has 200K SF at its current location in the MetLife building, according to The Real Deal, which reported talks of the deal last month. The New York Post first reported news of the lease. Newmark Knight Frank CEO Barry Gosin and Vice Chairman Moshe Sukenik represented the law firm in the lease, while CBRE's Robert Alexander, Emily Jones, Sarah Pontius and Ryan Alexander represented SL Green.
The law firm's lease expires in 2021, and One Vanderbilt is set to open in 2020. Most of the space in the $3B, 1.7M SF project is still available, according to the Post. TD Bank is taking 200K SF in the building and DVB Bank from Germany has inked a lease for 35K SF there.
"Our firm will once again be a leader by utilizing both 'new law' space planning in this state-of-the-art and perfectly located project in concert with a combination of alternative nearby locations to create an office campus which will collectively provide the most efficient and effective overall solution for our clients and talent alike," Greenberg Traurig Executive Chairman Richard Rosenbaum said in a statement. "This is what the platform of the future will look like."
Sources told the Post at the time of the DVB deal that the asking rents in the building were $135/SF. A major lease would continue 2017's momentum, when more office space price over $100/SF leased in a year in New York City history.
The Carlyle Group is said to be considering taking four floors at the tower. Consulting firm McKinsey & Co. is reportedly weighing taking up space there. Restaurateur Daniel Boulud has signed on to open a 11K SF restaurant on the second floor, and TD Bank will open a retail branch at street level. SL Green said construction is "ahead of schedule."
UPDATE, JAN. 26, 9:45 A.M. ET: This story has been updated with information from SL Green and Greenberg Traurig's announcement of the lease.