NEW YORK--(BUSINESS WIRE)--SL Green Realty Corp. (NYSE:SLG) today announced that TD Bank has signed a long-term lease to become the office and retail anchor tenant at One Vanderbilt, SL Green’s proposed tower adjacent to Grand Central Terminal in the heart of New York’s Midtown commercial district. 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. SL Green will deliver TD Bank its space in One Vanderbilt in 2020.
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.
“The move to One Vanderbilt will allow us to consolidate our New York City offices into one regional headquarters, and will offer an outstanding experience and great brand visibility for our employees and our customers,” said Christopher Giamo, Regional President, TD Bank’s Metro New York market. “This move underscores our commitment to the New York market and solidifies our presence as a major North American financial institution. With the building designed to exceed LEED Gold requirements under the new LEED 4.0 guidelines, this also aligns with our commitment to reducing carbon emissions as an environmental leader.”
Deputy Mayor for Housing and Economic Development Alicia Glen said: “We've set out to ensure East Midtown can compete for the companies and jobs of the 21st century. The announcement that TD Bank will anchor One Vanderbilt is exciting news that will strengthen our position as the global financial capital. And what's significant is that TD Bank has made this choice, not because of tax breaks or subsidies, but because of sound investments we are fostering in new office space and infrastructure. This is a model for how we intend to keep our economy growing.”
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.
About SL Green
SL Green Realty Corp., New York City's largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of September 30, 2014, SL Green held interests in 96 Manhattan buildings totaling 44.1 million square feet. This included ownership interests in 28.0 million square feet of commercial buildings and debt and preferred equity investments secured by 16.1 million square feet of buildings. In addition to its Manhattan investments, SL Green held ownership interests in 35 suburban buildings totaling 5.9 million square feet in Brooklyn, Long Island, Westchester County, Connecticut and New Jersey. For more information, please visit: http://slgreen.com.
About TD Bank
TD Bank, America's Most Convenient 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 at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US. TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com.