US-based real estate investment firm SL Green Realty has broken ground on One Vanderbilt Avenue.
One Vanderbilt Avenue will be the second tallest tower in New York City. Its location beside Grand Central Terminal will directly connect to its network of mass transit.
SL Green's chief executive officer Marc Holliday said: “One Vanderbilt will be a high-performing addition to the Manhattan skyline serving as a blueprint for 21st century commercial development.”
“As the largest commercial property owner in New York, we are proud to partner with the city to create a model for unsubsidised development that drives our economy and makes a critical contribution to its infrastructure.”
One Vanderbilt was designed by Kohn Pedersen Fox (KPF) Associates and will comprise an entire city block, bounded by Madison and Vanderbilt Avenues to the west and east, as well as East 43rd and East 42nd Streets to the north and south.
SL Green's realty claimed that at 1,401ft tall, the building’s tapered form will pay tribute to New York’s iconic skyscrapers, featuring sharp lines and bold angles. At its base along 42nd Street, the building will set back at an angle to show Grand Central’s majestic Vanderbilt cornice. The tower is expected to receive leadership in energy and environmental design (LEED) certification.
It will provide 1.7 million ft² of office space across 58 floors, featuring column-free floors and open views through floor-to-ceiling windows, while also offering a 30,000ft² tenant-only amenity floor and dining facility.
Kohn Pedersen Fox Associates' president James von Klemperer said: “One Vanderbilt will not only emerge as an elegant, tapered new icon on the New York skyline, but will also serve as a leading example of a global trend of connecting train stations to tall towers.
“This building will change its neighborhood for the better. It will provide a new gateway to the city made possible only through the unusually harmonious partnership between architect, developer, and the City of New York.”
It is estimated that construction will complete in 2020.