One Vanderbilt Stakes its Claim at the Crossroads of the World
If you’ve visited Grand Central Terminal anytime in the last year, you’ve probably noticed the large construction site on the corner of 42nd Street and Vanderbilt. Passersby eagerly peak through the street side windows to catch a glimpse of the new development, and with good reason, as One Vanderbilt’s ambitious scope plans to make it one of New York’s best and brightest buildings upon its completion in 2020.
So let’s break it down by the numbers. One Vanderbilt is set to be 1,401 feet high, with 63 stories, making an indelible mark upon the New York City skyline and also successfully qualifying it as one of the 30 tallest buildings in the world. And within, there’s an estimated 1.7 million square feet of space. All of this adds up to an equally staggering bottom line, as One Vanderbilt is priced at about 3.1 billion in total.
The team consists of SL Green as owner and developer of the property, Kohn Pederson Fox Associates as architect, Hines as development manager, Tishman as construction, and Gensler as interior architects.
Of course, you can’t talk about One Vanderbilt without mentioning its location. Located literally a stone’s throw away from Grand Central Terminal, and in turn all of its various commuting advantages, One Vanderbilt is within arm’s reach of the entire tri-state area.
And prime location is something One Vanderbilt’s developers are acutely aware of for its potential commuters. Upon breaking ground on the property last October, SL Green made a $220 million public infrastructure investment, which it says will go toward transforming the commuting experience at Grand Central with a new 14,000-square-foot pedestrian plaza to get in and out of the subway system, including Metro-North and future Long Island Railroad East Side access.
The $220 million will also go toward new entrances to the overcrowded 4, 5, and 6 trains, and a public hall in Grand Central’s lobby. This will all help to ease the congestion at Grand Central and its subway station, with broader spaces for riders to pass through and more space on the platforms themselves. It’s a win-win for SL Green and One Vanderbilt as well, who will pay for direct connections from beneath the tower to the subway.
One Vanderbilt doesn’t plan on just being another skyscraper, either. It’s also trailblazing in its sustainability efforts. One Vanderbilt is aggressively pursuing the highest level of LEED certification, as well as certification under the international WELL being standard.
In order to achieve this, One Vanderbilt will come fully equipped with both a water side and air side economizer, which minimize the use of heating and cooling systems. There’s also a 50,000-gallon rainwater collection and treatment system, a 75 percent recycling rate for construction materials, and an extensive tracking system dedicated to sourcing local materials and lessen transportation fuel use. And One Vanderbilt hopes to maintain a constant commitment to sustainability, trailblazing new initiatives that look to shape the greater New York landscape itself.
Already committed tenants to One Vanderbilt include TD Bank, DZ Bank, and an 11,000-square-foot restaurant run by famed chef Daniel Boulud. Other prospective tenants include JP Morgan Chase and McKinsey & Company, although leasing will not begin in full force until next year.
Altogether, One Vanderbilt hopes to deeply modernize East Midtown, and revitalize the neighborhood as a hot development for new offices. We’ll have to wait another three years to see the building come to fruition, but in the meantime be sure to stop by the site adjacent to Grand Central, peek through the windows, and see what the 3 billion fuss is all about.
Fore more information, visit: www.onevanderbilt.com
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