Construction Today - Volume 16, Issue 2 - 102
Commercial | SL GREEN REALTY CORP. - ONE VANDERBILT
On the Site
SL GREEN'S LATEST PROJECT WILL BE ONE OF NEW YORK CITY'S TALLEST BUILDINGS. BY ALAN DORICH
PHOTOS COURTESY OF MAX TOUHEY
members of the One Vanderbilt team include
(from left) Robert DeWitt, Anthony Schembri, Edward
V. Piccinich, Thomas O'Connor and Harry Olsen.
hen SL Green Realty Corp.
develops a property, it creates spaces that can be home
to more than one industry.
"We make investments that make sense,"
Chief Operating Officer Edward V. Piccinich
SL Green Rea y Corp. -
* Project budget: $3.1 billion
* Location: New York City
* Employees: Approximately 800 (peak)
* Scope: 58-story building wi office
"We will be e econd-tallest
[building] in e city."
- Edward V. Piccinich, chief operating officer
CONSTRUCTION-TODAY.COM VOLUME 16, ISSUE 2
declares. "That mitigates risk at the end of
The company's portfolio includes spaces
with tenants from a variety of industries including finance, insurance, legal, technology,
media and healthcare. "We have a little bit of
them all," he says. "Ensuring that you have a
diverse tenant base is an important strategy."
SL Green's latest project, One Vanderbilt,
will reflect that diversity. Located near
Grand Central Terminal in New York City,
"We are building what will be the second-tallest building in the city," Piccinich
says, adding that the structure will stand
1,401 feet with 58 stories.
The developer already has tenants who
have committed to space in One Vanderbilt,
including TD Bank N.A., which will anchor
approximately 200,000 square feet of space.
DZ Bank, and its affiliate, DVB Bank, will
have offices on its 26th floor, giving it 35,000
square feet. Finally, Greenberg Traurig, one
of the world's top law firms, is relocating its
head offices to One Vanderbilt where it will
be taking four floors.
World-renowned Chef Daniel Boulud
will have an 11,000-square foot restaurant
in the skyscraper as well. "There is more to
come," Piccinich adds. "We feel very confident with the pace of our leasing program
with presentations to prospective tenants
every day and heavy interest remains high."
On the Block
SL Green underwent a long process before
starting construction on One Vanderbilt.
"It took over a decade to assemble the site,"
Piccinich recalls, noting that the company
first acquired two buildings, 317 Madison in
2001, followed by 331 Madison in 2007.