2024 Summer Issue of Urban Land - 46
ONE VANDERBILT
Supertall creates a " palpable energy " that speaks to
New York's resilience and the future of cities
SIBLEY FLEMING
Developer Robert Schiffer, in
SUMMIT One Vanderbilt; he
is executive vice president
of development in the
investments group at SL
Green, Manhattan's largest
landlord.
Opened in 2020 in the midst of the pandemic,
SL Green's $3.3 billion One Vanderbilt
office tower-the fourth tallest in New York
City-serves as a prime example of what the
future of cities could hold. After achieving
$300 per square foot-the highest rent in the
city-the supertall is 99 percent leased, with
a weighted average lease term of 15 years.
The office project stands 1,401 feet tall (427
m), with 93 stories and 1.7 million square feet
(about 158,000 sq m) of rentable space.
One Vanderbilt is a private property with
a tenant roster that includes banking and
investment firms such as TD Securities; such
private equity firms as the Carlyle Group and
KPS Capital Partners; upscale law firms, such
as Greenberg Traurig and McDermott Will &
Emery; and global German financial firm DZ
Bank.
Yet the property is also a very public one,
with transit access and a next-level, immersive
observation deck-spread over three floors, 91,
46
URBAN LAND
SUMMER 2 024
SUMMER 202 4
SL GREEN
2024 Summer Issue of Urban Land
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