SL Green Realty announced that TD Bank has signed a long-term lease to become the office and retail anchor tenant at One Vanderbilt Place, SL Green’s proposed tower adjacent to Grand Central Terminal in the heart of New York’s Midtown commercial district.
Starting in 2020, TD Bank will occupy approximately 200, 000 square feet of space in One Vanderbilt, including a flagship retail store on the northeast corner of 42nd Street and Madison Avenue, demonstrating TD Bank’s commitment to East Midtown.
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SL Green President Andrew Mathias said, “Securing a major tenant of TD Bank’s caliber more than five years before One Vanderbilt is due to open makes a tremendous statement about this iconic building and the need for new, modern and efficient office space in East Midtown. We are grateful to Mayor de Blasio and his administration for their vision in supporting the modernization of the Vanderbilt Corridor and a project that will generate $210 million in public improvements. We look forward to continuing the dialogue with the community, Borough President Brewer, Council Member Garodnick and other stakeholders as part of the ongoing public review process.”
TD Bank is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services. TD Bank opened its first branch in New York in 2001 and now has 124 branches in the five boroughs, including 16 branches that opened this calendar year alone.
One Vanderbilt will feature 1.6 million square feet of open and efficient LEED-certified Class A office space on the entire block of Vanderbilt Avenue between East 42nd and East 43rd Street. As part of the development, SL Green will deliver a $210 million package of public transit infrastructure improvements which will create critically-needed transit connections to Metro-North and 4/5/6/7 and S trains, as well as future East Side Access LIRR lines.
With the vast majority of funding allocated to upgrading the commuting experience in the over-burdened Grand Central 4/5/6 station, this unprecedented private investment will significantly improve pedestrian flow, allowing for more trains to enter the station, as well as alleviate crowding and circulation on mezzanine and platform levels. One Vanderbilt is currently undergoing the City’s formal public review process, expected to conclude next spring.
