SL Green Realty, Manhattan’s largest office landlord, reported its trophy One Vanderbilt tower is 95.2% leased, even as its overall fourth-quarter occupancy rate declined. It’s just the latest sign that coveted top-tier properties are attracting tenants even while New York’s office market is still struggling to recover from the fallout of the pandemic.
SL Green said late Wednesday in a statement that One Vanderbilt, which opened in late 2020 next to Grand Central Terminal, added global investment holding company Tennor Holding B.V. in the fourth quarter in a new 10-year, 25,488-square-foot lease covering the entire 62nd floor together with a 7,134-square-foot Altus Suite, which offers smaller, fully furnished and ready-to-move-in space, located on the 54th floor. The 1,401-foot-tall property also signed bitcoin firm Cipher Mining to a new five-year lease covering a 6,454-square-foot Altus Suite, SL Green said.
As a result, SL Green said last year the tower would beat its year-end leasing target.