The Real Deal New York

SL Green finally files One Vanderbilt plans

Details largely mirror Oct. 2013 proposal

September 04, 2015 03:30PM
By Ariel Stulberg

One Vanderbilt Avenue in Midtown East and SL Green CEO Marc Holliday (inset)

After years of waiting on the starting line, SL Green Realty’s One Vanderbilt project is off and running.The developer filed plans today for its deluxe Midtown East office tower, nearly two years after it first revealed details of its proposal.

As anticipated, the Kohn Pedersen Fox-designed 1.3 million-square-foot One Vanderbilt is slated to stand 67 stories and top out at 1,404 feet, according to the filings.

The first floor of the tower will include retail space and a bank. The second, third and 61st through 64th floors will have retail as well. The rest will be offices.

In 2013, the developer fought for an ultimately unsuccessful Bloomberg Administration plan to rezone Midtown East. A more modest rezoning proposal under Mayor Bill de Blasio unanimously passed the City Council in May of this year. That plan rezoned five blocks of Midtown East and allowed One Vanderbilt to proceed while requiring SL Green to spend roughly $210 million on infrastructure improvements to the Grand Central subway station at the base of the planned structure.

SL Green purchased the site, along with the 18-story, 142,000-square-foot office building that occupied it back in 2011 for $77 million.