New tower opens as pandemic crushes Manhattan office market

NEW YORK - One Vanderbilt, the latest super-tall skyscraper to grace New York’s skyline, opens Monday in a socially distant ribbon-cutting ceremony as COVID-19 leaves offices and the streets of Manhattan largely barren.

Majority owner SL Green Realty Corp provided $220 million for new staircases and enhanced connections to the subway and suburban rail lines at Grand Central in a private partnership model the city plans to replicate in the area. The average lease term at SL Green, the city’s largest office landlord, in the second quarter slid to 4.3 years from 10.1 years in the prior period, while the number of free months’ rent more than doubled to 4.5, regulatory filings show.

New York has added millions of square feet of column-free floorplates with floor-to-ceiling smart windows during the recent boom times, forcing landlords to spend hundreds of millions of dollars to upgrade outdated buildings.

That's a true grey monstrosity from the late 60's-early 70's. Wouldn't be surprised if it was all beige inside.

Really ugly.

Should be Two Vanderbilt then

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple's new $599 iPad to come with sleek, new form of Touch ID - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 🥱😴🥱😴 For $599, I could buy more things that are of practical use to me -iPad Air is not among the things that are practical use to me 'New form of Touch ID'. Meaning there's a fingerprint scanner in the power bottom to keep the costs down. Many phones over the years have had the same type of fingerprint scanner.
Source: BusinessInsider - 🏆 729. / 51 Read more »