[NYguy]

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

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.

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.

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.

Anyone who comes to work in One Vanderbilt first enters the huge, sleek lobby.

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.

Forget getting wet: Many people commuting via subway or commuter rail MetroNorth don't even have to walk outside to get to the lobby.

Only a few other office buildings in the area connect directly to historic Grand Central. Employees sidle through a door marked "Tenants Only."

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.

The showers have been the most popular amenity for tenants, according to Steven Durels, SL Green's executive vice president of leasing.

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.

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.

Employees can take their food outside to a landscaped patio overlooking Grand Central.

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.

It's not all board meetings. A company reserved this room for a March Madness watch party for its workers last year.

All of One Vanderbilt's offices have floor-to-ceiling windows.

The building was designed to maximize the number of corner offices, lead architect Jamie von Klemperer, of Kohn Pedersen Fox, told Insider.

On the 54th floor is vacant office space that has been built out and decorated to lure a tenant.

The space is designed to feel like a home, said Zach Freeman, who runs One Vanderbilt's leasing office. It has a café area.

"We are actively trading proposals" with interested companies, Freeman said. The Real Deal reported the space is asking $250 per square foot.

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.

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.