REIT unveils, names its massive new Midtown tower

TRD New York /
Dec.December 03, 2012 04:00 PM

The city’s largest office landlord, SL Green Realty, released sketches today for its planned office tower, to be known as 1 Vanderbilt.

The company hired architectural firm Kohn Pedersen Fox Associates to design the 1.55-million-square-foot building, which would be located on Midtown’s East Side in an area where the city is considering a zoning change to allow for taller and bulkier structures.

Isaac Zion, company co-chief investment officer, said the building as designed will not be financially feasible without the full 30 floor area ratio, which could be achieved only through the rezoning. The project is planned for a small block located jest east of Grand Central Terminal, bounded by 42nd and 43rd streets and Vanderbilt and Madison avenues, where SL Green now controls all the properties.

The designs were released at SL Green’s annual investor conference. –Adam Pincus 

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