The Real Deal New York

TD Bank confirmed as One Vanderbilt’s anchor tenant

Financial institution to take up to 200K square feet in SL Green's proposed office tower

November 17, 2014 04:15PM

From left: Andrew Mathias, a rendering of One Vanderbilt and TD Bank

From left: Andrew Mathias, a rendering of One Vanderbilt and TD Bank

TD Bank has officially inked a long-term lease to become the anchor tenant at SL Green Realty Corp.’s One Vanderbilt. The bank will take up to 200,000 square feet at the proposed tower located near Grand Central Terminal, according to a release from the landlord. TD Bank is expected to move into the space in 2020, according to a statement from the developer. Plans to move into the tower have been in the works since the summer. Before the tower can be built, the city will have to approve a rezoning of the Vanderbilt corridor. In turn, SL Green will invest $210 million in improvements for Grand Central. The local community board is set to vote on the issue on Monday night. SL Green is forming a coalition to push for the rezoning of Midtown East’s Vanderbilt Corridor. The developer is looking to construct a 1.6 million-square-foot office tower at One Vanderbilt. “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 need for new, modern and efficient office space in East Midtown,” said SL Green president Andrew Mathias. — Claire Moses

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