NEW YORK--(BUSINESS WIRE)--
SL Green Realty Corp. (NYSE:SLG), New York City's largest commercial
landlord, today announced that Greenberg Traurig, one of the world's top
law firms and the largest in the U.S., has signed a long-term lease to
relocate the center of its New York operations to One Vanderbilt Avenue,
the 1,401-foot skyline-shaping icon being constructed by SL Green at the
doorstep to Grand Central Terminal.
The Greenberg Traurig lease signing comes on the heels of the recent
announcement that German financial titans DZ and DVB Banks will take
35,000 square feet at One Vanderbilt, joining leading financial
institution TD Bank and celebrated chef Daniel Boulud as tenants
committing to the building more than two and a half years ahead of
opening. Greenberg Traurig is signing a 15-year lease initially covering
four contiguous floors. One Vanderbilt continues to attract companies
demanding the most state-of-the-art product, further solidifying East
Midtown's status as the premier office destination in New York for
leading companies from around the world.
"Greenberg Traurig could have gone anywhere in New York and made a major
statement by choosing to stay in East Midtown, reflecting the incredible
demand we're seeing for new construction in the most commuter-friendly
location in the city," said Marc Holliday, CEO of SL Green. "East
Midtown is building on its historic status and convenience, with One
Vanderbilt's location, amenity and infrastructure proving to be a magnet
for the most prestigious companies. We are thrilled to welcome Greenberg
Traurig's New York operations to the SL Green portfolio."
"Greenberg Traurig has signed a lease to center its New York area
operations at the extraordinary new project rising at One Vanderbilt," said
Richard A. Rosenbaum, Executive Chairman of Greenberg Traurig. "This
will be a central part of our strategic plan to position our New York
presence for a fast changing global marketplace. While our plans are in
progress, we expect to use this opportunity to meet client needs by
becoming substantially more efficient, provide for diverse needs and
options, and by incorporating technological innovation, various means of
delivering alternative services and more effective and diverse staffing
and service management. Our firm will once again be a leader by
utilizing both "new law" space planning in this state-of-the-art and
perfectly located project in concert with a combination of alternative
nearby locations to create an office campus which will collectively
provide the most efficient and effective overall solution for our
clients and talent alike. This is what the platform of the future will
One Vanderbilt and its architecture firm, Kohn Pedersen Fox (KPF)
Associates, were recognized earlier this month with the prestigious AIA
NY Merit Award in Urban Design. One Vanderbilt construction is ahead of
schedule for delivery in Q3 of 2020 as promised, with a Guaranteed
Maximum Price contract secured, over 95% of the trades bought, and the
pace of construction gaining steam. Since SL Green broke ground on the
1,401-foot building in 2016 the super structure has risen to seven
stories tall and is expected to reach a height of 39 stories by the end
of 2018. The completed building is expected to contain 25,000 tons of
steel fabricated in the U.S.
One Vanderbilt will anchor the modernization of the Midtown business
district, encompassing an entire city block, bounded by Madison and
Vanderbilt Avenues to the west and east, and East 43rd and East 42nd
Streets to the north and south. Expected to achieve both LEED Gold under
version 4.0 and WELL certification, the trophy tower will feature
floor-to-ceiling slab heights ranging from 14'6" to 24', column-free
floor plates, stunning 360-degree views through floor-to-ceiling windows
and best-in-class infrastructure. It will provide tenants with a
combination of amenities unrivaled in New York City, including a
30,000-square-foot tenant-only amenity floor with outdoor terrace. In
partnership with Boulud, One Vanderbilt will offer a world-class 11,000
square-foot restaurant with private dining opportunities. Immediately
adjacent to the city's most important transit hub, One Vanderbilt will
provide direct connections to the Grand Central Terminal transit network
and will invest $220 million in infrastructure upgrades to the system.
Barry Gosin and Moshe Sukenik of Newmark Knight Frank represented
Greenberg Traurig in the transaction.
About SL Green Realty Corp.
SL Green Realty Corp., an S&P 500 company and New York City's largest
office landlord, is a fully integrated real estate investment trust, or
REIT, that is focused primarily on acquiring, managing and maximizing
value of Manhattan commercial properties. As of June 30, 2017, the
Company held interests in 119 Manhattan buildings totaling 47.4 million
square feet. This included ownership interests in 27.5 million square
feet of Manhattan buildings and debt and preferred equity investments
secured by 19.9 million square feet of buildings. In addition, the
Company held ownership interests in 29 suburban buildings totaling 4.6
million square feet in Brooklyn, Long Island, Westchester County,
Connecticut and New Jersey. To be added to the Company's distribution
list or to obtain the latest news releases and other Company
information, please visit our website at www.slgreen.com or
contact Investor Relations at (212) 594-2700.
About Greenberg Traurig
Greenberg Traurig, LLP (GT) has more than 2,000 attorneys in 38 offices
in the United States, Latin America, Europe, Asia and the Middle East.
GT has been recognized for its philanthropic giving, was named the
largest firm in the U.S. by Law360 in 2017, and is among the Top 20 on
the 2017 Am Law Global 100.
SLG - LEAS
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SL Green Realty Corp.
Source: SL Green Realty Corp.
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