Private equity firm Sentinel Capital Partners has expanded its leased space at One Vanderbilt. The latest agreement secures an additional 7,134 sq ft of office space for Sentinel on part of the skyscraper's 54th floor, as announced by landlord SL Green Realty on Monday. This expansion increases Sentinel's total area in the prestigious building to 34,737 sq ft.
The exact terms of the expansion agreement, including its duration and rent, were not disclosed. However, Steven Durels of SL Green told Commercial Observer in February that rents in the building range between $250 and 'well over $300' per square foot.
Parties Involved in the Transaction and Building Status
SL Green's in-house brokers represented the landlord in this transaction. For Sentinel Capital, Brian Waterman and David Waterman from Newmark led the negotiations. One Vanderbilt, a 1.7 million square foot skyscraper at 1 Vanderbilt Avenue, located west of Grand Central Terminal, remains 100 per cent leased, according to SL Green.
The building continues to attract notable tenants. Law firm Greenberg Traurig recently signed a 10.5-year lease for an additional 33,477 sq ft in the skyscraper, as reported by Commercial Observer this month, bringing their total area to 133,365 sq ft.
Distinguished Tenants at One Vanderbilt
- —TD Bank
- —Investment management firm Carlyle Group
- —Alternative investment firm Oak Hill Advisors
- —SL Green itself
Spokespersons for Sentinel Capital and Newmark did not comment on the report when asked.
