[NYguy]

^ Who cares. This isn't a "bank" tower, it's an office building with an observation deck.

Originally Posted by Crawford

It's a fair question, but the answer is obvious. This building is one of the most expensive towers in the largest and most important business district on the planet.

Yeah, we touched on that earlier.



https://www.etfa-mag.com/news/manhattan-...be-among-priciest-for-tenants-29569.html

Manhattan's Newest Office Tower To Be Among Priciest For Tenants

OCTOBER 18, 2016

SL Green Realty Corp.’s One Vanderbilt skyscraper, which had a groundbreaking ceremony Tuesday, is expected to have rents that would make it among the priciest office buildings in New York City when it’s completed in 2020.

The building, at Madison Avenue and 42nd Street just west of Grand Central Terminal, is likely to attract tenants paying about $150 a square foot on average, SL Green Chief Executive Officer Marc Holliday said in an interview Tuesday at the construction site. Rents near the top of the 58-story building probably will be around $200 a square foot, said Steven Durels, SL Green’s chief leasing officer.

Such prices would make One Vanderbilt similar in cost to midtown Manhattan’s most expensive office towers, including the General Motors Building. Rents for top-tier office space in Midtown averaged $88.72 a square foot at the end of the third quarter, according to data from brokerage Savills Studley.

The One Vanderbilt rent projection is “pretty much consistent with what the best buildings are getting today, only we’re talking 2020 dollars, and what will be, I believe, the best building in Manhattan,” Holliday said.

...“The marketing process is really going to kick off in earnest in the second half of ’17, and throughout ’18 and ’19,” Holliday said. “The building is programmed for what we expect will be tenants ranging in size from anywhere from 50,000 feet to 250,000 feet. That’s what we think the typical tenant” will be.

Meanwhile, we've reached the fifth floor....


https://www.instagram.com/p/BbAP6EnnMtT/?taken-by=one_vanderbilt

The #OneVanderbilt superstructure is well-above grade and the steel has now reached the fifth floor with Ironworkers erecting about 35 steel beams and columns every day. Thanks to our partners in labor, especially the Ironworkers, Operating Engineers, Carpenters, Electricians, Plumbers, Concrete Trades, Masons, Lathers, Laborers, and Teamsters for their incredible work to date on NYC’s next landmark. (photo: Max Touhey)