Leading mid-market private equity firm Sentinel Capital Partners will be moving its corporate headquarters to SL Green’s One Vanderbilt, a 77-story office tower under construction in Midtown Manhattan.
The New York-based company signed a 15-year lease for the entire 28,448-square-foot 51st floor of the skyscraper. Sources told the Commercial Observer that the asking rent for the Class A office space was $175 per square foot. Lance Korman and Brian Waterman of NGKF represented Sentinel in the lease negotiations, while CBRE’s Robert Alexander, Ryan Alexander, Emily Jones and Alex D’Amario represented SL Green.
‘We’re proud to welcome Sentinel Capital Partners to One Vanderbilt’s prestigious roster of tenants,’ Steven Durels, executive VP and director of leasing and real property at SL Green, said in a statement. ‘With direct access to Grand Central Terminal, unparalleled amenities, column-free floorplates and extraordinary views, One Vanderbilt’s leasing velocity remains robust as we approach the one year mark from opening.’
The KPF-designed tower currently under construction at the corner of Vanderbilt Avenue and 42nd Street broke ground in 2016, and it will become the fourth-tallest building in the city upon completion in 2020. The $3.3 billion project is the first to rise after the approval of the new Midtown East rezoning plan.
Occupying an entire city block, One Vanderbilt will bring a wide range of amenities to the area, including a 30,000-square-foot, tenant-only amenity floor with spacious meeting spaces, a club-style lounge and an outdoor terrace with sweeping views of the Manhattan skyline. The building is immediately adjacent to Grand Central Terminal, thus offering easy access to every part of the city. SL Green is also investing $220 million in private funds to upgrade the transit system. Additionally, One Vanderbilt will aim to achieve the highest LEED certification for its energy efficient features.
The 1.7 million square feet of Class A, green office space is highly appealing to tenants, and One Vanderbilt already boasts a high-profile tenants roster and has been dubbed the most cutting-edge skyscraper in the area. Notable tenants include The Carlyle Group, TD Securities and TD Bank, prestigious law firms McDermott, Will & Emery and Greenberg Taurig, KPS Capital Partners, DZ and DVB Banks, MFA Financial, and SL Green.
Are you thinking of setting up your business in a convenient location in Manhattan, and are looking to lease space in a modern building offering state-of-the-art amenities? Then reach out to us and we will show you worthwhile space situated right in the heart of New York City. To learn about available office space, call Metro Manhattan Office Space at (212) 447-5403.