One Vanderbilt, New York, United States of America


ne Vanderbilt

One Vanderbilt is a 58-storey mixed-use tower being built in Midtown, New York, US. At a height of 1,401ft (427m), the building will become the second tallest tower in the city.

SL Green Realty Corporation is building the tower at an estimated cost of more than $3bn. National Pension Service of Korea and Hines Interest respectively hold 27.6% and 1.4% interests in the development.

The project broke ground in October 2016 and is expected to be completed by September 2020.

Location of the new mixed-use tower in Midtown

One Vanderbilt will occupy an entire block next to the Grand Central Terminal, between Madison Avenue, Vanderbilt Avenue and 42nd and 43rd Streets.

The building will provide direct underground access to the Grand Central Terminal, as well as connect to the subway system and the future Long Island Rail Road East Side Access.

SL Green is investing $220m to upgrade the public transit network to provide access to the terminal.

One Vanderbilt design details

Designed by Kohn Pederson Fox, One Vanderbilt comprises four inter-connected building volumes, which taper towards the sky. The shape of the building is highlighted by sharp lines and bold angles.

"At a height of 1,401ft (427m), the building will become the second tallest tower in the city."

The underground access to the Grand Central Terminal at the base features angled cuts, creating a visual procession towards the terminal.

The majority of the space in the tower is reserved for offices, while the remaining is for retail, dining and entertainment. More than 1.5 million square feet of the tower will be dedicated towards Class A office space and 31,900ft² for retail space.

The building will also feature a 60,000ft² observation deck on floors 57, 58 and 59, which will be open to the public.

One Vanderbilt will feature floor-to-ceiling slab heights between 14.6ft and 20ft, column-free floorplates and state-of-the-art building systems to provide best-in-class office space in New York. The floor-to-ceiling windows of the tower will also provide 360° views for tenants.

A number of sustainable features are expected to be included in the tower to achieve LEED v4 Gold certification.

One Vanderbilt construction

Construction works for the tower commenced with the demolition of the existing buildings on the site.

This was followed by foundation work, with the concrete foundation being poured in February 2017. The foundation pour was one of the biggest single pours in New York.

Vertical construction work commenced in May 2017 and will be followed by steel erection works in the second half of 2017.

Financing for New York's second tallest tower

SL Green secured $1.5bn in construction financing for the project from a group of banks led by Wells Fargo Bank. Other banks include the Bank of New York Mellon, JP Morgan Chase Bank, TD Bank and Bank of China.

The loan is for a period of seven years and issued at a floating interest rate of 3.50% over LIBOR.

Contractors involved

AECOM Tishman has been awarded the general construction contract for the tower and is also responsible for securing the 25,000t of structural steel required for construction.

Banker Steel has been subcontracted by AECOM for the structural steel framing work. Its subsidiary NYC Constructors will erect the steel structure.

ArcelorMittal USA Plate has been subcontracted by Banker Steel to supply plates for the tower.

E-J Electric Installation is responsible for electrical installation work and the supply of electrical power distribution services.

Langan is providing various services, including geotechnical, civil, traffic and transportation, surveying and terrestrial scanning.

Kasirer provided guidance regarding land use review procedure to SL Green.