David Lobel’s Sentinel Capital Partners has inked a 15-year lease for the entire 51st floor at SL Green Realty’s One Vanderbilt, the real estate investment trust announced on Monday.
The private equity firm will occupy just over 28,000 square feet overall, and the deal means that the office tower is now 59 percent leased. Construction on the project has reached the 73rd floor, and it should top out in the summer of 2019. The entire 1.7 million-square-foot building is expected to be open by August 2020.
Other major leases at the building include fellow private equity firms the Carlyle Group and KPS Capital Partners, law firms McDermott, Will & Emery and Greenberg Traurig, anchor tenant TD Bank, and SL Green itself. Chef Daniel Boulud has also partnered with SL Green to develop a restaurant in the building.
Lance Korman and Brian Waterman of Newmark Knight Frank represented Sentinel Capital Partners in the deal, while Robert Alexander, Ryan Alexander, Emily Jones and Alex D’Amario of CBRE represented SL Green.
In January 2018, The Real Deal analyzed the complicated financing of the $3 billion-plus office tower.