I
n a high-stakes showdown, SL Green Realty is taking its German tenant Tennor Holding B.V. to court over a whopping $15.5 million in unpaid rent at the iconic One Vanderbilt skyscraper in Midtown Manhattan. The dispute centers on two floors of office space that have been vacant since August 2023.

    Tennor Holding B.V., a global investment firm, had signed a 10-year lease for a full floor and a temporary lease for another floor in January 2022. However, the company allegedly defaulted on rent payments seven months later, prompting SL Green to reach a settlement that allowed Tennor to stay. But when Tennor failed to pay rent again in August 2023, SL Green terminated the lease, leaving the tenant with a hefty bill of $13.8 million plus an additional $1.7 million.

    Despite this drama, One Vanderbilt remains fully leased and is considered one of the most valuable properties in New York City, with recent sales valuing it at a staggering $4.7 billion. The skyscraper's high asking rents, which reached as much as $322 per square foot last year, are among the highest in the city.