Posted Apr 11, 2023, 4:30 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
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https://www.businessinsider.com/manh...photos-2022-10
Inside Manhattan's most expensive office building, which boasts swanky showers, March Madness parties, and views for 40 miles
Kelsey Neubauer
Oct 28, 2022
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One Vanderbilt is a 2-year-old skyscraper and the second-tallest office building in New York City.
Now it's also the priciest: A 72nd-floor office is listed for $312 a foot, or $3.3 million a year.
See the hotel-like features that employees who work in the building, which is 99% leased up, enjoy.
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Manhattan's biggest office landlord, SL Green, opened One Vanderbilt in September 2020 after 13 years of planning and construction.
The 1,401-foot-tall skyscraper sits on East 42nd Street and Vanderbilt Avenue, next to Manhattan's storied Grand Central Terminal train station. It has 1.8 million square feet of interior space — the size of over 30 football fields — across its 72 floors.
One Vanderbilt is 99% leased to tenants including TD Bank and private-equity firm The Carlyle Group — no small feat at a time when offices are struggling amid a work-from-home revolution.
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Walker & Dunlop, which finances commercial real estate investments throughout the country, also has offices in the tower. Companies pay dearly for their offices — from $130 per square foot, compared to an average of $83 per square foot in the area overall.
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Anyone who comes to work in One Vanderbilt first enters the huge, sleek lobby.
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Take these elevators up to the 68th floor and you'll find the corporate law firm McDermott Will & Emery, which employs 2,300 people, and pays $302 per each of the nearly 23,000 square feet it leases. That's almost $7 million a year.
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Forget getting wet: Many people commuting via subway or commuter rail MetroNorth don't even have to walk outside to get to the lobby.
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Only a few other office buildings in the area connect directly to historic Grand Central. Employees sidle through a door marked "Tenants Only."
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If employees ride their bikes to work or get off a red-eye flight to make a big presentation, they can reserve one of several One Vanderbilt's shower rooms, located on various floors, through an app.
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The showers have been the most popular amenity for tenants, according to Steven Durels, SL Green's executive vice president of leasing.
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Employees also have access to a whole entire amenities floor, a third-floor space called the The Vandy Club. Among the options is a sushi restaurant called JoJi Box.
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Also on that floor is La Terrace, a restaurant run by Michelin-starred French chef Daniel Boulud that is only open to people who work in the building. It serves salads, sandwiches, soup, and pastries.
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Employees can take their food outside to a landscaped patio overlooking Grand Central.
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One Vanderbilt also has a conference center that spans half of the third floor for companies that want to host an event or an important meeting.
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It's not all board meetings. A company reserved this room for a March Madness watch party for its workers last year.
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All of One Vanderbilt's offices have floor-to-ceiling windows.
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The building was designed to maximize the number of corner offices, lead architect Jamie von Klemperer, of Kohn Pedersen Fox, told Insider.
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On the 54th floor is vacant office space that has been built out and decorated to lure a tenant.
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The space is designed to feel like a home, said Zach Freeman, who runs One Vanderbilt's leasing office. It has a café area.
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"We are actively trading proposals" with interested companies, Freeman said. The Real Deal reported the space is asking $250 per square foot.
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On the 72nd floor, SL Green is asking $312 per square foot, or over $3.3 million a year, The Real Deal reported. That's the most expensive asking office rent in New York City right now.
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The 10,790-square-foot office, which will be built out and finished when a tenant signs a lease, contains an outdoor terrace that overlooks most of Manhattan.
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