The Real Deal New York

TD Bank could anchor SL Green’s 1 Vanderbilt

Financial institution would consolidate several divisions in new location
May 22, 2014 05:30PM

Toronto-based TD Bank is reportedly mulling a move to SL Green’s planned 65-story tower at 42nd Street, close to Grand Central Terminal.

The bank, which currently bases its U.S. operations in Cherry Hill, N.J., would be the proposed tower’s anchor tenant, and multiple divisions would be consolidated in the tower. The building, to be located at 1 Vanderbilt, would also serve as a major retail branch.

Developer SL Green has continued negotiations for the proposed 1.5 million square foot tower with the administration to build the skyscraper at 1 Vanderbilt, even after a Midtown East zoning plan by former Mayor Michael Bloomberg was stalled.

Last November SL Green unveiled designs for the tower, which will be located at Madison Avenue between 42nd and 43rd Streets.

CBRE is the lead real estate broker on the project. [NYP] — Claire Moses