Grand Central Upgrades and One Vanderbilt Construction Begins

City Officials and developer broke ground on the new One Vanderbilt office building and $220 million transit upgrade of Grand Central. On October 18, 2016, Mayor Bill de Blasio, Manhattan Borough President Gale Brewer, Congresswoman Carolyn Maloney and Council Member Dan Garodnick joined the developer SL Green for the on-site groundbreaking ceremony. The new office tower will reach 1,401 feet and cover the city block west of Grand Central. The tower is expected to achieve … <Read More>

Hearings Held on Five Potential Landmarks as Part of Greater East Midtown Plan

Designations opposed by developers and hoteliers; transit advocates expressed concern that landmarking would prevent improved subway infrastructure and access. On July 19 2016, the Landmarks Preservation Commission held hearings on the potential designations of five possible individual landmarks in the East Midtown area of Manhattan. Twelve items in total were identified by Landmarks as significant historic and architectural resources, as part of the mayoral administration’s Greater East Midtown plan. The plan to revitalize … <Read More>

Lawsuit Seeks Damages Over One Vanderbilt Agreement

Owner of Grand Central Terminal claims violation of property rights, seeks $1 billion in damages.  On September 28, 2015, Andrew Penson—the owner of Grand Central Terminal in the Midtown East neighborhood of Manhattan—initiated a lawsuit against New York City for allegedly unlawfully taking Grand Central’s air rights from him for the benefit of SL Green Realty Corporation without just compensation, which is a violation of the Fifth Amendment of the United States Constitution.  The complaint … <Read More>

Zoning Subcommittee Approves One Vanderbilt Project, With Modifications

Proposal returns to City Planning with additional infrastructure improvements.  On May 5, 2015 the City Council Subcommittee on Zoning and Franchises voted to modify and approve the proposed One Vanderbilt skyscraper project and Vanderbilt Corridor rezoning plan.  (See previous CityLand coverage here.) The proposal as approved now includes a second transit hall on 42nd Street and Vanderbilt Avenue, as well as a 22 percent increase in the below-grade pedestrian space. The below-grade increase allows … <Read More>

Council Subcommittee Hears Testimony on One Vanderbilt

Representatives of the project and the Department of City Planning spoke during a four-hour hearing.  On April 13, 2015 the City Council Subcommittee on Zoning and Franchises held a public hearing on One Vanderbilt, a proposed 1,450-foot commercial tower in East Midtown, as well as an accompanying proposal to rezone five blocks of Vanderbilt Avenue to create the Vanderbilt Corridor.  The building will be located adjacent to Grand Central Terminal, bounded by East 42nd Street … <Read More>

City Planning Approves One Vanderbilt Project With Modifications

The application seeks to rezone five blocks along Vanderbilt Avenue to permit construction of a new commercial tower.  On March 30, 2015 the City Planning Commission approved SL Green’s proposal to build One Vanderbilt, a 1,450-foot commercial tower, and establish the five-block Vanderbilt Corridor.  The building will be located on the block adjacent to Grand Central Terminal, bounded by East 42nd Street to the south, East 43rd Street to the north, Madison Avenue to … <Read More>