A major step forward for the New York City skyline was taken on Tuesday morning. Elected officials joined developers to celebrate the official groundbreaking for One Vanderbilt.
Located along East 42nd Street between Vanderbilt Avenue and Madison Avenue, the SL Green-developed, Kohn Pederson Fox-designed building will reach 1,401 feet into the air. It will encompass 58 stories and 1.7 million rentable square feet, featuring column-free space. It will also come with over $220 million in mass transit improvements, part of the deal struck with the city to allow the tower to rise so high.
Mark Holliday, CEO of SL Green said the tower will “elegantly punctuate and celebrate our skyline.”
Mayor Bill de Blasio noted that none of the upper floors’ tenants will be allowed to move in until the mass transit improvements are in place. He said One Vanderbilt represents the “right kind of growth for the city.” “That’s how we will get things done,” he said, referring to this and future similar projects.
U.S. Rep. Carolyn Maloney praised the development team’s “love and professionalism.” City Council Member Daniel Garodnick said Vanderbilt Avenue had been held back by “outdated rules,” but the process used for this tower represents a “new and positive path for East Midtown.”
One Vanderbilt’s anchor tenant will be TD Bank, with about 200,000 square feet of office space, plus a retail space on the corner of 42nd and Madison. The building itself will be LEED V.3 Platinium have a 30,000-square-foot tenant-only amenity floor.
The public transit improvements includes modernization of the 4/5/6 station at Grand Central, to reduce overcrowding and modernize service. That will include two more trains per hour, new staircases to street level, a waiting area inside One Vanderbilt, and direct connections from One Vanderbilt to the trains, including Metro-North Railroad and the Long Island Rail Road (when East Side Access is complete). There will also be a 14,000-square-foot outdoor public plaza on Vanderbilt between 42nd and 43rd streets.
The building is expected to be complete by 2020.
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