The city’s largest office building owner recently tapped architecture firm Kohn Pedersen Fox Associates for the 1.55-million-square-foot building east of Grand Central Terminal, by 42nd and 43rd streets and Vanderbilt and Madison avenues.
The design of 1 Vanderbilt, unveiled at SL Green’s annual investor conference, requires the full 30-floor area ratio, which will only be permitted after rezoning. Otherwise, the building would not be financially feasible, SL Green co-chief investment officer Isaac Zion told The Real Deal.
The 1 Vanderbilt project will test SL Green’s new-development mettle; the firm has mostly done renovations of existing office buildings in the past. The company owns more than 25 million square feet of office space in the city.