One Vanderbilt, the latest super-tall skyscraper to grace New York's skyline, officially opened Monday in a socially distant ribbon-cutting ceremony as COVID-19 leaves offices and the streets of Manhattan largely barren. The airy $3.3billion tower adjacent to Grand Central Terminal represents a major step in city efforts to ensure that a blocks-long swath of Midtown Manhattan, where buildings on average are 85 years old, remains a premier office district. Majority owner SL Green Realty Corp provided $220million 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. While One Vanderbilt is 67 per cent leased with tenants that have taken out long-term leases at more than $100 a square foot, fear of COVID-19 has kept offices in Manhattan, the largest US office market, mostly empty, which is likely to persist until a vaccine has been fully rolled out. Tenants, which so far include, TD Bank, the Carlyle Group and Greenberg Traurig, won't start to move in until later this year. SL Green CEO Marc Holliday told Bloomberg that many of the company's 900 tenants across the city 'all want to be back in the buildings'. Holliday added: 'A lot of our tenants are in already or telling us they're coming in the next month or two.'
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