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SL Green Inks 81,304 Square Feet at One Vanderbilt Ave.

SL Green Realty has signed three new leases at One Vanderbilt Avenue, its trophy skyscraper, bringing the property to 79% occupancy. The new tenants include MSD Partners, which is taking 35,567-square-foot in a 15-year lease covering the entire 26th floor, and Mamoura Holdings, which has signed a 28,448 square foot, 10-year lease covering the entire 51st floor.  The third lease was inked by Nearwater Management for 17,289 square feet, in a 7-year lease covering a portion of the 33rd floor. 

One Vanderbilt Avenue also has several more leases in the pipeline, according to the REIT. CEO Marc Holliday told Bloomberg that if these six leases close the building will be close to 90% occupancy. 

One Vanderbilt has proved to be largely immune to the forces battering New York City’s office market, having signed 11 new leases since the beginning of the pandemic. “The leasing velocity at One Vanderbilt demonstrates the overwhelming demand by leading companies for highly amenitized, new, state-of-the-art office construction that is centrally located near mass transit,” said Steven Durels, EVP  and director of Leasing and Real Property at SL Green, in prepared remarks.  

Scott Panzer of Jones Lang LaSalle represented MSD Partners. Justin Aronson of CBRE represented Mamoura Holdings. Alexander Chudnoff and Kip Orban of Jones Lang LaSalle represented Nearwater Management. Robert Alexander, Ryan Alexander, Emily Jones and Alex D’Amario of CBRE represented the landlord in each transaction.
Reprinted with permission from the Wed, 05 May 2021 10:25:45 EDT online edition of GlobeSt © 2021 ALM Media Properties, LLC. All rights reserved. Further duplication without permission is prohibited, contact 877-256-2472 or reprints@alm.com.