SL Green Signs German Banks for One Vanderbilt

NEW YORK — SL Green Realty has signed two German banks, Deutsche Zentral-Genossenschaftsbank (“DZ BANK”) and DVB Bank SE, for new leases to locate their New York offices at One Vanderbilt Avenue, a new 58-story skyscraper under construction next to Grand Central Terminal.

Each banks has signed separate, 15-year leases which in combination cover the entire 26th floor of 35,382 square feet. DZ BANK and DVB will join TD Bank, which has signed on to anchor approximately 200,000 square feet of space in One Vanderbilt. The new skyscraper is set to open in 2020.

“With construction progressing quickly and tenant interest continuing to intensify, there is tangible momentum behind the rise of this game-changing office building. We are delighted to welcome global industry leaders, DZ BANK and DVB Bank to One Vanderbilt,” said Steven Durels, SL Green Director of Leasing and Real Property.

Ralf Weingartner, General Manager of DZ BANK New York branch said, “We are proud to move into the most modern building in Midtown Manhattan, where we are continuing our excellent relationship with our landlord, SL Green Realty. Both DZ BANK and DVB now have a future-oriented setup that will be in the best interest of all employees and secure a sustainable future for our businesses for years to come. We have been located in New York City for decades and look forward to the next 40 years in this most important financial center.”

One Vanderbilt construction is on schedule for completion in 2020. Since SL Green broke ground on the 1,401 foot building in October 2016, workers have poured 4,200 cubic yards of concrete into the building’s foundation, which marked the largest single continuous pour in New York City history. After foundation work was completed, steel erection began in July 2017 and will utilize 25,000 tons of domestically-fabricated structural steel. To date, over 1,500 tons of steel has been erected and steel fabrication has been completed through the 39th floor. Two tower cranes are now fully operational and the steel superstructure is now rising above grade.

Designed by Kohn Pedersen Fox (KPF) Associates, 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 celebrated Chef Daniel 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 connection to the Grand Central Terminal transit network.

Evan Margolin, Lance Leighton and Brad Wolk of Savills-Studley represented DZ and DVB Banks in the transaction.