Posted Apr 19, 2022, 11:39 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,869
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https://therealdeal.com/2022/04/19/o...ice-rent-ever/
One Vanderbilt lease at $300 psf may be city’s highest office rent ever
Top-most rentable floor at SL Green’s signature tower goes to Canadian firm
By Lois Weiss
April 19, 2022
Quote:
One square foot of office space — about what a pair of sneakers takes up — had reportedly never been leased for more than $300 a year in New York City.
But now a Canadian-based environmental services company has agreed to break that barrier to lease the 73rd floor of SL Green’s One Vanderbilt tower, The Real Deal has learned.
Sources say GFL Environmental signed a deal for all 9,871 available square feet on the building’s highest office floor, right below its Summit observatory. The asking rent was $322, TRD reported last summer.
The record rent of $300 per square foot had been set by the top floors of 425 Park Avenue in 2015, when that L&L Holding tower was under construction. Billionaire Ken Griffin’s hedge fund Citadel inked that deal and added to it in 2019. A source said he paid $350 per square foot for some of that space, leaving some doubt as to whether the One Vanderbilt space is the new record holder.
But the 73rd floor of One Vanderbilt is even higher and is the uppermost office space in the building, which, at 1,400 feet, towers over the city skyline.
As one of the two so-called sky floors, it has unobstructed “helicopter” views from the George Washington Bridge to the Statue of Liberty through its floor-to-ceiling windows. The floor also has a 24-foot slab height and windswept private outdoor space.
SL Green’s Durels declined to comment on the rent but boasted, “The floor unquestionably is the single most spectacular floor given the combination of all the factors.” Aside from its height and newness, the building benefits from its direct entrances to Grand Central Terminal.
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