TD Bank has officially completed a deal for 200,000 square-foot corporate office and retail deal with SL Green Realty Corp. to become the anchor tenant for the proposed 65-story One Vanderbilt Ave. the Post has learned.
The 15-year transaction would begin in 2020 and provide room for growth for the bank.
According to sources, the bank sent out a memo on Monday, noting it would bring employees for a regional headquarters from both 444 Madison Ave. and 317 Madison, which will be demolished to make way for the new LEED Gold tower that would rise on the full block between E. 42nd and 43rd streets, Madison and Vanderbilt avenues.
An official releasewas to go out later today as both the bank and the developer, SL Green are publicly traded companies.
The bank will have a new branch in the retail portion of the building at 42nd St. and Vanderbilt Ave. with branding aka TD Bank signs that will extend to the second floor of the building designed by Kohn Pedersen Fox.
The deal also includes ATMs that would be installed in a new vestibule in a new underground corridor to Grand Central, subways and the Long Island Railroad.
As a unique deal bonus, TD Bank will also obtain 30 minutes a day for advertisements on the colorful billboard on top of 1515 Broadway in Times Square where SL Green owns several projects with spectacular area signage including the American Eagle store and 1552 Broadway.
The Post first reported TD Bank was in talks to anchor the new skyscraper on May 22nd.
SL Green will present its plans for the 1.6 million square-foot 65-story, 1,514 foot tall project to the tip of its 100-foot spire before a joint community board task force hearing scheduled for Monday evening on the proposed rezoning of the Vanderbilt Corridor. Under current zoning it could only contain 1.2 million square feet but needs approvals for the tower as designed.
To provide incentives for the additional square footage, SL Green has proposed $210 million in subway and Grand Central Terminal access improvements, including a new waiting room in the base of the tower that will also connect to the new East Side Access project that will bring Long Island Railroad commuters to the station.
Some opponents claim these improvements are not worth the money. Additionally, Andrew Penson of Argent Ventures who owns Grand Central Terminal and its valuable air rights, has been opposed to the deal as SL Green already owns air rights and would not have to buy more to gain its bulk and height advantage.
To counter objections, SL Green has also now created The Coalition for a Better Grand Central that includes the Association for a Better New York, the Building and Construction Trades Council of Greater New York, the Grand Central Partnership, the New York Building Congress, the New York Hotel and Motel Trades Council, the Real Estate Board of New York, Building Trades Employers’ Association of New York City and the building workers in Local 32BJ of the Service Employees International Union.
