Lance Leighton
Founder – HedgeFundSpaces.com
New York State Licensed Real Estate Salesperson
Over the past several years, brand-new office buildings have become highly sought after in the world of commercial real estate due to the flight to quality– which reflects tenants’ preferences for high-end office spaces. This increased demand for state-of-the-art properties is surpassing the limited supply. While the asking rents for these buildings often double or triple those of older counterparts, the attraction of recruiting and retaining top-tier talent is driving leasing activity in these coveted towers. One asset in specific that has capitalized off this momentum is One Vanderbilt.
One Vanderbilt, Manhattan’s newest renowned office tower, initially had a slow start. However, after signing countless leases with the likes of The Caryle Group, TD Bank, DZ Bank (which our team completed), McDermott Will & Emery, Greenberg Traurig, Stone Ridge Asset Management, Oak Hill Advisors, MSD Partners, & KPS Capital Partners (just to name a few), there is only one floor remaining in this trophy asset. The entire 72nd floor, which is a part of the One Vanderbilt Penthouse Collection, is suitable for any hedge fund, private equity firm, investment bank, or boutique financial services firm seeking ultra-luxury office space with a world-renowned address. One Vanderbilt stands as one of the newest and most prestigious addresses in New York City and even the world, boasting 73 stories and offering perks and features that high-end user’s desire.
The entire 72nd floor, which is a part of the “sky floors” collection of the building, is the pinnacle of office space in Manhattan offering the select few an unequalled experience a world apart from any other office space, anywhere. The availability is currently in raw condition and offers 20-foot ceilings, panoramic city views, efficient column-free floorplates, and floor-to-ceiling windows. As an added perk, the floor also features outdoor space in the form of a usable terrace. SL Green, the owner, is willing to customize the space or provide a cash contribution for the initial buildout for incoming tenants. Lastly, the building features a tenant-only amenity floor with conferencing, social area and outdoor space. That being said, this opportunity is not suitable for budget-conscious tenants, as the rent is $275 per square foot, making it one of the most expensive office lease options in the history of New York City.
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