Law Firm Signs 15-Year Lease for 4-Floors in One Vanderbilt

SL Green Realty’s super skyscraper One Vanderbilt is going up on East 42nd Street next to Grand Central Station. (Photo Courtesy of SL Green)
Marc Holliday is the Chief Executive Officer of SL Green Realty. (Photo Courtesy of SL Green)

A lease for four continuous floors in SL Green Realty’s super skyscraper One Vanderbilt has been finalized by Greenberg Traurig.

According to The Post, a deal for a 15-year lease in the under-development Midtown East tower, which is scheduled to open in 2020, was signed by the law firm for its office space. Sources told the news outlet that while the exact square footage that will be rented in the 1,401-tall office tower is still unclear, they estimate it is between 130,000 to 140,000 square feet.

The Real Deal reports, “Greenberg occupies 200,000 square feet nearby at the MetLife building just a short walk away at 200 Park Avenue. The law firm was in talks to split its space between One Vanderbilt and the Graybar Building nearby at 420 Lexington Avenue, as The Real Deal reported when it broke news of the negotiations in December. Greenberg executive chairman Richard Rosenbaum told the Post that the company’s new Manhattan headquarters will function ‘in concert with a combination of alternative nearby locations to create an office campus.’”

Greenberg’s, who SL Green is a frequent client of, lease at MetLife expires in 2021. The developer was represented by Greenberg in its purchase of 11 Madison Avenue for $2.5 billion, as well as the sale of his leasehold at the Lipstick Building for $453 million.

The head of the real estate section of Greenberg, Robert Ivanhoe, has a personal relationship with the CEO of SL Green Marc Holliday. The two are known to be friends and often seen playing on the golf course together.

In the One Vanderbilt lease deal, SL Green was represented by CBRE’s Robert Alexander, Emily Jones, Sarah Pontius and Ryan Alexander. Greenberg Traurig used Barry Gosin and Moshe Sukenik at Newmark Knight Frank to represent them.

By Charles Bernstein

 

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