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Apr 25, 2018

SL Green Realty Signs McDermott Will & Emery at One Vanderbilt Avenue

Leading International Law Firm Leases 106,000 Square Feet

NEW YORK--(BUSINESS WIRE)--Apr. 25, 2018-- SL Green Realty Corp. (NYSE:SLG), New York City’s largest commercial landlord, today announced that McDermott Will & Emery LLP, a premier international law firm, has signed a 20-year lease for 105,539 square feet at One Vanderbilt Avenue, the 1,401-foot icon set to redefine New York’s skyline. McDermott Will & Emery will relocate its New York operations to One Vanderbilt, taking floors 44 through 46 and floor 67. One Vanderbilt is currently 31 percent leased, two years ahead of its planned 2020 opening and on track to meet SL Green’s goal of 37 percent leased by the end of 2018.

“Global business leaders like McDermott Will & Emery are choosing One Vanderbilt because it offers the most advanced and amenitized new office construction right at the doorstep to Grand Central Terminal in the heart of East Midtown,” saidAndrew Mathias, President of SL Green. “The momentum we’re seeing at One Vanderbilt, two years ahead of opening, reaffirms East Midtown’s position as the premier business destination in New York. We’re delighted to welcome McDermott Will & Emery into the SL Green portfolio and help advance their strategic goals at One Vanderbilt.”

“As a firm, we are inspired by innovation and are excited to put our brand on a building that reflects that,” said John Yoshimura, Chief Operating Officer of McDermott Will & Emery. “We have significantly grown our footprint and diversified our client offerings in New York, and we’re confident that the move to One Vanderbilt will help us build an even more formidable presence in the city.”

Earlier this year, the American Institute of Architects (AIA) recognized One Vanderbilt and its architecture firm, Kohn Pedersen Fox (KPF) Associates, with the prestigious AIA NY Merit Award in Urban Design. The building has attracted industry leading tenants in finance and law, as well as renowned chef Daniel Boulud, who will operate an 11,000-square-foot restaurant and café.

Encompassing an entire city block, the building is 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. Anchoring the modernization of East Midtown, One Vanderbilt 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. Immediately adjacent to Grand Central Terminal, the building will create direct connections to the surrounding transit network and SL Green will invest $220 million in infrastructure upgrades to the system.

Moshe Sukenik and Noel Flagg of Newmark Knight Frank represented McDermott Will & Emery and Robert Alexander, Sarah Pontius, Ryan Alexander and Emily Jones of CBRE represented the landlord 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 March 31, 2018, SL Green held interests in 118 Manhattan buildings totaling 49.9 million square feet. This included ownership interests in 28.7 million square feet of Manhattan buildings and debt and preferred equity investments secured by 21.2 million square feet of buildings. In addition, SL Green held ownership interests in 25 suburban buildings totaling 3.7 million square feet in Brooklyn, Long Island, Westchester County, and Connecticut.

About McDermott Will & Emery

McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Seoul, Silicon Valley and Washington, DC. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.


Source: SL Green Realty Corp.

SL Green Realty Corp.
Matt DiLiberto, 212-594-2700
Chief Financial Officer
Matt Lawyue, 646-452-5637