Recent Leases at Manhattan Office Tower Point to Recovery

Office tenants including investment firms U.A.E.-based Mamura Holdings LLC, MSD Partners and asset manager Nearwater Management recently signed leases with SL Green for space in the Kohn Pedersen Fox-designed One Vanderbilt, a new, 1,401-ft-tall supertall in Midtown Manhattan, Real Estate Weekly reports. A total of 11 new leases signed during the pandemic brings occupancy to 79% at the tower — which is served by a Schindler vertical-transportation system that includes 43 elevators and five escalators — and points to post-pandemic recovery. MSD will occupy 35,000 ft² of space under a 10-year lease, and MSD, the entire 26^th floor, under a 15-year lease. Steven Durels, executive vice president and director of Leasing and Real Property at SL Green, said the firm anticipates “leasing velocity to remain strong as NYC’s revitalization continues, employees return to the office and tenants continue to seek new or highly improved office space to meet their future needs.”