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128-582: It is looking to buy a portfolio of blue-chip stocks from emerging markets. On January 30, 2017, NPS opened up an office in New York City's One Vanderbilt . The NPS is currently in annual surplus, recent surpluses have been between 1% and 5% of GDP. The scheme is currently in annual surplus. According to projections published 27 January 2023 by the NPS, at the current contribution rates and replacement rate , surpluses are projected to remain until 2041, and

256-460: A National Historic Landmark . Its Beaux-Arts design incorporates numerous works of art . Grand Central Terminal is one of the world's ten most-visited tourist attractions, with 21.6 million visitors in 2018, excluding train and subway passengers. The terminal's Main Concourse is often used as a meeting place, and is especially featured in films and television. Grand Central Terminal contains

384-522: A Starbucks coffee shop, a Rite Aid pharmacy, and an Apple Store . The Oyster Bar, the oldest business in the terminal, sits next to the Dining Concourse and below Vanderbilt Hall. An elegantly restored cocktail lounge, the Campbell , sits just south of the 43rd Street/Vanderbilt Avenue entrance. A mix of commuters and tourists access it from the street or the balcony level. The space

512-463: A T.G.I. Friday's ." As part of the construction of One Vanderbilt, the section of Vanderbilt Avenue between 42nd and 43rd Streets was decommissioned in September 2016 and redesigned as a pedestrian zone . Designed by PWP Landscape Architecture , the plaza covers 14,000 square feet (1,300 m ). It measures 200 feet (61 m) long and 60 feet (18 m) wide, taking the entire width of

640-477: A caduceus below an inscripted panel that reads: "To all those with head, heart, and hand • Toiled in the construction of this monument to the public service • This is inscribed." Above the panel is a clock framed by a pair of carved cornucopias. In 2014, the foyer was named for Onassis, former First Lady of the United States , who in the 1970s helped ward off the demolition of

768-446: A theatre in the round , spectators sit on three sides of the court. A men's smoking room and women's waiting room were formerly located on the west and east sides of Vanderbilt Hall, respectively. In 2016, the men's room was renovated into Agern , an 85-seat Nordic-themed fine dining and Michelin-starred restaurant operated by Noma co-founder Claus Meyer , who also ran the food hall. Both venues permanently closed in 2020 during

896-417: A $ 1.5 billion, five-year loan for the tower's construction. The loan was finalized that September. The following month, general contractor AECOM Tishman subcontracted the construction of One Vanderbilt to Navillus Tile for $ 135.9 million. Liberty Mutual was the guarantor for the contract. An official groundbreaking occurred on October 18, 2016. At the ceremony, de Blasio described One Vanderbilt as

1024-528: A FAR of 30 for the skyscraper to be profitable. SL Green and Hines met with the New York City Department of City Planning (DCP) in late 2012 to determine which features the planned One Vanderbilt Avenue skyscraper could have. The discussions influenced SL Green to include public indoor and outdoor spaces, as well as a distinctive design, as the DCP mandated. SL Green hired Kohn Pedersen Fox as

1152-649: A Metro-North train before collecting them three weeks later. In 1996, some of the lost-and-found items were displayed at an art exhibition. Grand Central Terminal contains restaurants such as the Grand Central Oyster Bar & Restaurant and various fast food outlets surrounding the Dining Concourse. There are also delis, bakeries, a gourmet and fresh food market, and an annex of the New York Transit Museum . The 40-plus retail stores include newsstands and chain stores, including

1280-548: A bank branch and an entrance to the nearby railroad terminal and the associated subway station , while the second floor contains the Le Pavillon restaurant. Most of the building is devoted to office space. The top stories contain the Summit One Vanderbilt observation deck. SL Green acquired the site between 2001 and 2011 and announced plans to construct the building in 2012. A planned zoning amendment for

1408-668: A buffer spring; no one was injured. The collision caused the building to shake and prompted some tenants to evacuate. By September 2024, the building's space was fully leased. In November 2024, the Mori Building Company bought an 11% ownership stake in One Vanderbilt; at the time, the building was valued at $ 4.7 billion. To attract tenants to One Vanderbilt, SL Green offered to pay off their old leases, such as that of The Carlyle Group , whose lease SL Green paid off for around $ 100 million. As of October 2021 ,

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1536-445: A ceiling sloping from 50 to 110 feet (15 to 34 m) from west to east. Above the wedged base, the building tapers at higher levels. The building's shape allows more sunlight to reach street level compared to alternative designs. Several alternatives were considered before the shape was finalized. The facade consists mostly of a glass curtain wall with panels that extend from the floor to ceiling of each story. The curtain wall

1664-705: A combined $ 525 million for a 27.6% and 1.4% stake in the development, respectively. At the time, SL Green projected that One Vanderbilt would earn $ 198 million annually, including $ 42 million from the observation deck alone. Foundation laying started the next month. The work included one of the largest continuous concrete pours to ever take place in New York City. By that June, the skyscraper's first vertical beams had been constructed. One Vanderbilt's superstructure reached above ground level in October 2017. The following month, Navillus filed for bankruptcy, and Tishman moved to end its subcontract with Navillus, though work on

1792-617: A contract to refurbish the Biltmore Room into an arrival area for Long Island Rail Road passengers as part of the East Side Access project. As part of the project, the room's booths and stands were replaced by a pair of escalators and an elevator to Grand Central Madison's deep-level concourse, which opened in May 2023. The room's blackboard displayed the arrival and departure times of New York Central trains until 1967, when

1920-403: A cross-section of 22 by 22 inches (560 by 560 mm). The top of the building is stabilized by a tuned mass damper system weighing around 500 short tons (450 long tons; 450 t) or 520 short tons (460 long tons; 470 t). The interior spaces in One Vanderbilt are designed to be as high as 105 feet (32 m). Underneath the building is a basement loading dock with a turntable, which

2048-583: A design that maximizes profit, One Vanderbilt's base is designed for easier pedestrian and transit access in the nearby area. A writer for the Commercial Observer said in 2023 that "One Vanderbilt has quickly staked its claim as the prime office property in all of New York City" because of its location, design, and amenities. Grand Central Terminal Metro-North Railroad terminal Grand Central Terminal ( GCT ; also referred to as Grand Central Station or simply as Grand Central )

2176-530: A final cost of $ 75 million. In spring 2000, construction began on a project to enclose the Northeast and Northwest passages with ceilings and walls. Work on each passage was expected to take 7.5 months, with the entire project wrapping up by summer 2001. As part of the project, the walls of the passages were covered with glazed terrazzo ; the Northeast Passage's walls have blue-green accents while

2304-491: A flexible meeting space known as the Vandy Club. The flexible space has showers for executives as well as pantries. The third-floor amenities were designed by Gensler . The subsequent 58 floors contain 1.5 million square feet (140,000 m ) of office space. There are fewer stories than in other skyscrapers of similar height because each story's ceiling is 14.6 to 24 feet (4.5 to 7.3 m) high. Because of

2432-508: A lease at the building, officially becoming an anchor tenant. Disputes over the proposed transit improvements at One Vanderbilt continued. That December, an advisory task force composed of two local community boards indicated that it would oppose the improvements unless the building's energy efficiency was increased and one of the Grand Central entrances was relocated. In January 2015, Manhattan Borough President Gale Brewer endorsed

2560-467: A mechanical board was installed in the Main Concourse. The Station Master's Office, located near Track 36, has Grand Central's only dedicated waiting room. The space has benches, restrooms, and a floral mixed-media mural on three of its walls. The room's benches were previously located in the former waiting room, now known as Vanderbilt Hall. Since 2008, the area has offered free Wi-Fi. One of

2688-543: A new office tower in Midtown in the early 2000s. The company began buying buildings on the block bounded by Vanderbilt Avenue, 42nd Street, Madison Avenue, and 43rd Street. The first acquisition was in 2001, with 317 Madison Avenue. SL Green initially intended to renovate the building and increase the rents. When two adjacent buildings on the same block were placed for sale in 2007, these were also acquired. According to SL Green managing director Robert Schiffer, this prompted

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2816-577: A precaution during the COVID-19 pandemic , Grand Central North closed on March 26, 2020. It reopened in September of that year with hours from 6:30 to 10 a.m. and 4 to 7 p.m. In 2021, its original hours were restored. On November 1, 2021, the entrance to the northeastern corner of Madison Avenue and 47th Street was "closed long-term to accommodate the construction of 270 Park Avenue ". After Grand Central Madison begins full service, Grand Central North will be open from 5:30 a.m. until 2 a.m., seven days

2944-508: A press release published in mid-2021, Summit One Vanderbilt also has a green space, advertised as the world's highest urban "alpine meadow". One Vanderbilt's construction included improvements that would provide extra capacity for over 65,000 passengers going into the New York City Subway at Grand Central–42nd Street . The Metropolitan Transportation Authority (MTA) mandated the station improvements in exchange for allowing

3072-481: A rainwater collection system with a capacity of 90,000 US gallons (340,000 L; 75,000 imp gal). Much of the building's electricity is generated by natural gas –powered turbines on the 39th physical story. The roof contains a cooling tower with five fans, which remove heat from the building's hot-water pipes; cold water is then sent back to the lower stories. To reduce energy consumption, One Vanderbilt uses both waterside and airside economizers , which use

3200-430: A strength of 10,000 pounds per square inch (69,000 kPa). About 60,000 cubic yards (46,000 m ) of rock had to be excavated for the foundation. Because the base of One Vanderbilt is directly above the train tracks serving Grand Central, several large box columns had to be custom-designed for the building. One such column at the southeast corner does not contain bracing between the ground and sixth stories, allowing

3328-591: A train arrives at the terminal every 58 seconds. Three of Metro-North's five main lines terminate at Grand Central: Through these lines, the terminal serves Metro-North commuters traveling to and from the Bronx in New York City; Westchester , Putnam , and Dutchess counties in New York ; and Fairfield and New Haven counties in Connecticut . The MTA's Long Island Rail Road operates commuter trains to

3456-515: A variety of stores and food vendors, including upscale restaurants and bars, a food hall, and a grocery marketplace. The building is also noted for its library, event hall, tennis club, control center and offices for the railroad, and sub-basement power station. Grand Central Terminal was built by and named for the New York Central Railroad ; it also served the New York, New Haven and Hartford Railroad and, later, successors to

3584-576: A week. The main entrance into the terminal, underneath the Park Avenue Viaduct, opens into the Jacqueline Kennedy Onassis Foyer. The room is a short passage with a sloped floor and arched shop windows along its side walls. It is adorned with glass and bronze chandeliers, a classical cornice, and a decorative tympanum above the doors leading to Vanderbilt Hall. The tympanum has sculpted bronze garlands and

3712-402: A year, 60% of which were eventually claimed. In 2013, the bureau reported an 80% return rate, among the highest in the world for a transit agency. Some of the more unusual items collected by the bureau include fake teeth, prosthetic body parts, legal documents, diamond pouches, live animals, and a $ 100,000 violin. One story has it that a woman purposely left her unfaithful husband's ashes on

3840-732: Is a commuter rail terminal located at 42nd Street and Park Avenue in Midtown Manhattan , New York City . Grand Central is the southern terminus of the Metro-North Railroad 's Harlem , Hudson and New Haven Lines , serving the northern parts of the New York metropolitan area . It also contains a connection to the Long Island Rail Road through the Grand Central Madison station, a 16-acre (65,000 m ) rail terminal underneath

3968-511: Is a 73-story supertall skyscraper at the corner of 42nd Street and Vanderbilt Avenue in the Midtown Manhattan neighborhood of New York City . Designed by Kohn Pedersen Fox for developer SL Green Realty , the skyscraper opened in 2020. Its roof is 1,301 feet (397 m) high and its spire is 1,401 feet (427 m) above ground, making it the city's fourth-tallest building after One World Trade Center , Central Park Tower , and 111 West 57th Street . One Vanderbilt's facade and design

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4096-449: Is accessed by two truck elevators. The base includes a lobby covering 4,500 square feet (420 m ). The interior of the lobby contains a bronze "art wall" and a starburst-shaped bronze installation suspended on metal cables. TD Bank was signed as the anchor tenant for the building, operating within a ground-floor space of 200,000 square feet (19,000 m ). There are also 30,000 square feet (2,800 m ) of tenant amenities in

4224-426: Is an information booth topped with a four-sided brass clock, one of Grand Central's most recognizable icons. The terminal's main departure boards are located at the south end of the space. The boards have been replaced numerous times since their initial installation in 1967. In their design for the station's interior, Reed & Stem created a circulation system that allowed passengers alighting from trains to enter

4352-428: Is anchored to the underlying bedrock using 83 tiebacks . The underlying bedrock could support loads of 60 short tons per square foot (590 t/m ). The columns at the perimeter of the foundations are supported on spread footings measuring as much as 14 by 14 feet (4.3 by 4.3 m) across and 9 feet (2.7 m) thick. The perimeter walls themselves are up to 53 feet (16 m) tall and are composed of concrete with

4480-539: Is composed of enclosed glass balconies that protrude from the facade. The third part, "Ascent", has two all-glass Cimolai Custom Rack-and-pinion outside elevators which bring visitors near the top of the building. The interior of the top floor features a glass parapet and a bar. One space at Summit is an "infinity room" containing a ceiling 40 feet (12 m) tall. The bars are operated by Danny Meyer's Union Square Events. Summit One Vanderbilt also contains an interactive art exhibit created by Kenzo Digital. According to

4608-407: Is designated a "terminal" because trains originate and terminate there. The CSX Corporation Railroad Dictionary also considers "terminals" as facilities "for the breaking up, making up, forwarding, and servicing of trains" or "where one or more rail yards exist". Grand Central Terminal serves some 67 million passengers a year, more than any other Metro-North station. During morning rush hour ,

4736-464: Is intended to harmonize with Grand Central Terminal immediately to the east. The building's base contains a wedge-shaped void, and the tower tapers as it rises, with several "pavilions" and a pinnacle at the top. The facade is made mostly of glass panels, while the spandrels between stories are made of terracotta . The superstructure is made of steel and concrete, and the interior spaces are designed to be as high as 105 feet (32 m). The lobby has

4864-401: Is lit by Beaux-Arts chandeliers, each with 132 bulbs on four tiers. Vanderbilt Hall was formerly the main waiting room for the terminal, used particularly by intercity travelers. The space featured double-sided oak benches and could seat 700 people. As long-distance passenger service waned, the space became favored by the homeless, who began regularly living there in the 1980s. In 1989, the room

4992-412: Is located on the upper platform level of Grand Central, in the geographical center of the station building. The 35,000-square-foot (3,300 m ) concourse leads directly to most of the terminal's upper-level tracks, although some are accessed from passageways near the concourse. The Main Concourse is usually filled with bustling crowds and is often used as a meeting place. At the center of the concourse

5120-404: Is northwest of the Main Concourse and directly beneath 22 Vanderbilt , the former Biltmore Hotel building. The room was completed in 1915 as a waiting room for intercity trains, which led to its colloquial name of the "Kissing Room", in reference to the greetings that would take place there. As the station's passenger traffic declined in mid-century, the room fell into neglect. In 1982 and 1983,

5248-736: The Empire Builder , the San Francisco Zephyr , the Southwest Limited , the Crescent , and the Sunset Limited under Amtrak. Destinations included San Francisco , Los Angeles , Vancouver , New Orleans , Chicago , and Montreal . Another notable former train was New York Central's 20th Century Limited , a luxury service that operated to Chicago's LaSalle Street Station between 1902 and 1967 and

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5376-538: The COVID-19 pandemic . City Winery signed a lease for both the food hall and the Agern space in 2022. The firm opened a wine bar, a quick-service restaurant named City Jams, and a farm-to-table restaurant named Cornelius in these spaces that November. The Biltmore Room, originally known simply as the incoming train room, is a 64-by-80-foot (20 by 24 m) marble hall that serves as an entrance to tracks 39 through 42, and connects to Grand Central Madison. The hall

5504-454: The Grand Central Madison station beneath Grand Central, completed in 2023 in the East Side Access project. The project connects the terminal to all of the railroad's branches via its Main Line , linking Grand Central Madison to almost every LIRR station. Partial service to Jamaica began on January 25, 2023. The New York City Subway 's adjacent Grand Central–42nd Street station serves

5632-978: The Lefcourt Colonial Building and One Grand Central Place to the south; Grand Central Terminal to the east; the MetLife Building to the northeast; and 335 Madison Avenue to the north. In addition, the Grand Hyatt New York hotel and the Chrysler Building are one block east, while the Pershing Square Building , the Bowery Savings Bank Building , and the Chanin Building are to the southeast. The skyscraper replaced several structures built as part of

5760-498: The Terminal City development around Grand Central in the 20th century. The 18-story Vanderbilt Avenue Building, a Warren and Wetmore -designed structure at 51 East 42nd Street, opened as a six-story office complex in 1902 and expanded in the 1920s. It had a two-story Modell's store that sold sport-related items. Some of 51 East 42nd Street's ornate facade details, including terracotta porpoises and cherubs , were saved by

5888-495: The "right kind" of development in East Midtown, while Brewer said the planned skyscraper had "set the bar very high" for other new developments nearby. No other tenants besides TD Bank had yet signed leases for space in One Vanderbilt. That December, plans for the building's observation deck were announced. In January 2017, South Korea's National Pension Service and development firm Hines Interests Limited Partnership paid

6016-422: The $ 210 million cost of the transit improvements SL Green planned to make. Penson valued the air rights at up to $ 600 per square foot ($ 6,500/m ), nearly 10 times the $ 61 per square foot ($ 660/m ) he paid when he bought the station in 2006. SL Green rejected Penson's offer as a "publicity stunt". By October 2014, One Vanderbilt was projected to be 1,514 feet (461 m) high. The following month, TD Bank signed

6144-421: The 1998 renovation, which restored the ramps' original appearance with one minor change: the bridge now has a low balustrade, replacing an eight-foot-high solid wall that blocked views between the two levels. The underside of the bridge is covered with Guastavino tiling . The bridge's arches create a whispering gallery in the landing beneath it: a person standing in one corner can hear another speaking softly in

6272-604: The 47th and 48th Street entrances were open from 9:00 a.m. to 9:30 p.m., while the two entrances to the Helmsley Building were closed. Five years after they opened, the passageways were used by about 30,000 people on a typical weekday. But they served only about 6,000 people on a typical weekend, so the MTA proposed to close them on weekends to save money as part of the 2005–2008 Financial Plan. Since summer 2006, Grand Central North has been closed on weekends. As

6400-567: The 55th floor is Centurion New York. a 11,500-square-foot (1,070 m ) suite of clubrooms that is open only to holders of the Centurion Card , an invitation-only card for wealthy American Express clients. The mechanical space on the 12th physical story contains a chiller plant and electrical transformers. One Vanderbilt was planned to be environmentally efficient from its inception. The building has its own cogeneration plant capable of 1.2 megawatts (1,600 hp) daily as well as

6528-669: The Bowery Savings Bank Building to the One Vanderbilt Avenue site in 2010. Under the zoning rules at the time, a structure on the latter block could not be taller than about 600 feet (180 m). The site allowed an "as-of-right" floor area ratio (FAR) of up to 15, but with the Bowery Savings Bank's air rights and several development bonuses, SL Green could obtain a FAR of up to 20.7. This was not enough for SL Green, which required

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6656-493: The Bowery Savings Building, and it received additional air rights from the New York City government by improving public transit and adding public space to the area. One Vanderbilt is the city's fourth-tallest building after One World Trade Center , 111 West 57th Street , and Central Park Tower . At completion, it was the second-tallest office building in the city after One World Trade Center, rising above

6784-518: The Chrysler Building. As of 2022 , the building is the 27th-tallest in the world. The building cost $ 3.31 billion in total. One Vanderbilt is set 10 feet (3.0 m) back from the street to allow better views of Grand Central. On the bottom few floors, the top section of the facade slopes upward, while the bottom section slopes downward, creating a diagonal wedge. As a result, the lobby area on Vanderbilt Avenue (facing Grand Central) has

6912-768: The LPC endorsed One Vanderbilt's construction, though the Historic Districts Council and the Society for the Architecture of the City both expressed strong opposition. In exchange for further increases to the FAR, and thus the building's height, SL Green proposed transit improvements around Grand Central in September 2014. At public hearings for the proposed transit improvements, neighborhood residents questioned

7040-414: The Main Concourse and the construction of Grand Central Tower . Vanderbilt Hall is an event space on the south side of the terminal, between the main entrance and the Main Concourse to its north. The rectangular room measures 65 by 205 feet (20 m × 62 m). The north and south walls are divided into five bays, each with large rectangular windows, screened with heavy bronze grills. The room

7168-479: The Main Concourse ceiling. Access to the lower-level tracks is provided by the Dining Concourse, located below the Main Concourse and connected to it by numerous stairs, ramps, and escalators. For decades, it was called the Suburban Concourse because it handled commuter rail trains. Today, it has central seating and lounge areas, surrounded by restaurants and food vendors. The shared public seating in

7296-622: The Main Concourse, then leave through various passages that branch from it. Among these are the north–south 42nd Street Passage and Shuttle Passage, which run south to 42nd Street; and three east–west passageways—the Grand Central Market, the Graybar Passage, and the Lexington Passage—that run about 240 feet (73 m) east to Lexington Avenue by 43rd Street. Several passages run north of the terminal, including

7424-550: The Metro-North station, built from 2007 to 2023. The terminal also connects to the New York City Subway at Grand Central–42nd Street station . The terminal is the third-busiest train station in North America , after New York Penn Station and Toronto Union Station . The distinctive architecture and interior design of Grand Central Terminal's station house have earned it several landmark designations, including as

7552-521: The New York Central. Opened in 1913, the terminal was built on the site of two similarly named predecessor stations, the first of which dated to 1871. Grand Central Terminal served intercity trains until 1991, when Amtrak began routing its trains through nearby Penn Station . Grand Central covers 48 acres (19 ha) and has 44 platforms , more than any other railroad station in the world. Its platforms, all below ground, serve 30 tracks on

7680-522: The North End Access Project, the work was to be completed in 1997 at a cost of $ 64.5 million, but it was slowed by the incomplete nature of the building's original blueprints and by previously undiscovered groundwater beneath East 45th Street. During construction, MTA Arts & Design mosaics were installed; each work was part of As Above, So Below , by Brooklyn artist Ellen Driscoll . The passageways opened on August 18, 1999, at

7808-614: The Northwest Passage's walls have red ones. The ceilings are 8 to 10 feet (2.4 to 3.0 m) high; the cross-passages' ceilings are blue-green, the same color as the Main Concourse, and have recessed lights arranged to resemble the Main Concourse's constellations. The passages were to be heated in winter and ventilated. Originally, Grand Central North had no restrooms or air-conditioning. The entrances to Grand Central North were originally open from 6:30 a.m. to 9:30 p.m. Monday through Friday. During weekends and holidays,

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7936-409: The air rights above the terminal's underground tracks. In its September 2014 proposal to the city, SL Green proposed to pay $ 400 per square foot for the air rights, then build a 1,500-foot (460 m), 67-story building, twice as big as the zoning rules permitted. Penson proposed paying SL Green $ 400 million for 1.3 million square feet (120,000 m ) of air rights, and he also proposed assuming

8064-451: The building "had 20 more floors because if [he] did we could lease them". Summit One Vanderbilt opened on October 21 of that year. By late 2022, ninety-nine percent of One Vanderbilt's office space had been leased. One Vanderbilt's Centurion New York club opened in March 2023 on the 55th floor. On March 21, 2023, an elevator for Summit One Vanderbilt rapidly fell three stories and struck

8192-437: The building has 59 stories. Early plans called for a 67-story skyscraper. One Vanderbilt's roof is 1,301 feet (397 m) high; including its spire, it is 1,401 feet (427 m) tall. A building on the site would normally have been restricted to 600 feet (180 m), but One Vanderbilt's developer SL Green was able to more than double this height with additional air rights . SL Green had transferred some air rights from

8320-545: The building is 90 percent leased. Tenants include: Writing for The Real Deal magazine in December 2015, James Gardiner said the proposal "does not feel as striking or impressive as one could want", in that it failed to stand out in any way other than its height. Justin Davidson of New York magazine described One Vanderbilt as a rare "civic-minded Goliath " in that, while other skyscrapers are usually built in

8448-424: The building to be 82 percent leased by the end of 2020; however, the agents revised their forecast to 72 percent. The New York City Department of Buildings issued a temporary certificate of occupancy for One Vanderbilt on September 11, 2020. One Vanderbilt was formally opened with a ceremony three days later, on September 14. At the time, tenant spaces were incomplete, and the first tenants could not move into

8576-450: The building until that November. The Le Pavillon restaurant at the building's base opened in May 2021. The following month, a banking consortium led by Wells Fargo and Goldman Sachs refinanced One Vanderbilt for about $ 3 billion. The refinancing included a 10-year, fixed-rate loan using commercial mortgage-backed securities and was intended to pay off part of the $ 1.75 billion debt incurred during construction. By July 2021, SL Green

8704-505: The building was expected to open the following August. Shortly afterward, the top part of the spire was temporarily removed so construction cranes could add cladding to the crown. The building's completion was delayed slightly in early 2020 due to the COVID-19 pandemic in New York City . By that June, the building was 67 percent leased in spite of the pandemic. Prior to the COVID-19 pandemic, One Vanderbilt's leasing agents had sought for

8832-403: The building's base, including tenant valet parking at ground level. On the second floor is Daniel Boulud 's restaurant Le Pavillon , accessed by its own entrance from ground level. The restaurant space covers 11,000 square feet (1,000 m ) and contains a ceiling height of 57 feet (17 m), with a main room and an auxiliary room. On the third floor is an auditorium, a boardroom, and

8960-405: The building's construction, of which two-thirds would be used for station redesign, marking the largest private investment in the subway system to date. The building's subway entrance opened on December 9, 2020. The improvements, which cost over $ 200 million, allowed the subway station to accommodate 4,000 to 6,000 more passengers per hour. Developer SL Green Realty began looking at sites for

9088-773: The building's tapering shape, the office space on lower stories is larger than on upper stories. The lower office floors, spanning up to 40,000 square feet (3,700 m ) each, were designed for tenants who needed large amounts of open space, such as newsrooms and trading floors. The middle office floors, spanning 20,000 to 30,000 square feet (1,900 to 2,800 m ), were designed for corporate tenants. The upper stories, covering 15,000 to 20,000 square feet (1,400 to 1,900 m ), were designed for smaller firms such as hedge funds. In marketing documents, floors 10 to 15 are labeled as "podium floors", floors 20 to 38 as "executive floors", floors 44 to 55 as "tower floors", floors 60 to 68 as "penthouse floors", and floors 72 and 73 as "sky floors". On

9216-623: The city and SL Green for $ 1.1 billion, claiming that the city government had given SL Green the air rights over Grand Central for free. Midtown TDR dropped the lawsuit in August 2016 in exchange for an undisclosed sum. At a forum in June 2016, SL Green had indicated that the building could cost about $ 3.14 billion. That month, a consortium of banks including Wells Fargo , The Bank of New York Mellon , JPMorgan Chase , Toronto-Dominion Bank , Bank of China , and Landesbank Baden-Württemberg offered

9344-564: The city rather than purchasing them from Penson. In March 2015, the DCP approved the Vanderbilt Avenue rezoning as well as SL Green's proposal for One Vanderbilt. The Vanderbilt Avenue rezoning received unanimous approval from the New York City Council in May 2015, following an endorsement by the council's zoning subcommittee. Immediately afterward, SL Green announced it would start demolishing structures on

9472-474: The company to decide on razing these three buildings and replacing them with a larger structure at the address One Vanderbilt Avenue. In 2011, SL Green was able to buy 51 East 42nd Street, the final property on the block. The four buildings themselves had cost $ 300 million in total, but SL Green still had to acquire over 150 leases in them. SL Green also owned the Bowery Savings Bank Building at 110 East 42nd Street, and it had transferred some air rights from

9600-511: The concourse was designed resembling Pullman traincars . These areas are frequented by the homeless, and as a result, in the mid-2010s the MTA created two areas with private seating for dining customers. The terminal's late-1990s renovation added stands and restaurants to the concourse, and installed escalators to link it to the main concourse level. The MTA also spent $ 2.2 million to install two circular terrazzo designs by David Rockwell and Beyer Blinder Belle , each 45 feet in diameter, over

9728-483: The concourse's original terrazzo floor. Since 2015, part of the Dining Concourse has been closed for the construction of stairways and escalators to the new LIRR terminal being built as part of East Side Access . A small square-framed clock is installed in the ceiling near Tracks 108 and 109. It was manufactured at an unknown time by the Self Winding Clock Company , which made several others in

9856-574: The conversion of a short section outside One Vanderbilt. Since Grand Central Terminal was a New York City designated landmark , the New York City Landmarks Preservation Commission (LPC) had to endorse development around the terminal. SL Green thus applied to the LPC for a "certificate of appropriateness" regarding the transfer of air rights from the Bowery Savings Bank Building. At a hearing in July 2014,

9984-420: The core are reinforced by steel outrigger trusses. The office space requirements prevented lateral bracing or floor diaphragms from being used throughout much of the building, so many of the structural elements are unbraced for distances of up to 40 feet (12 m). At the building's crown, the diagonal beams have a cross-section of 18 by 18 inches (460 by 460 mm), and the horizontal and vertical beams have

10112-401: The core walls gradually decrease in strength to 6,000 pounds per square inch (41,000 kPa) with a minimum thickness of 24 inches (610 mm). The rebar is made of 90 percent recycled material. Most floors do not contain interior columns, and the steel frame contains beams that span up to 70 feet (21 m) from the core. On the three mechanical levels, the concrete shear walls around

10240-427: The delayed One Vanderbilt development, where it could be an anchor tenant. The following week, SL Green officially revived its plans for One Vanderbilt. Mayor de Blasio's administration proposed rezoning the area around Vanderbilt Avenue to allow One Vanderbilt to be constructed. Unlike Bloomberg's proposal, which would have converted all of Vanderbilt Avenue to a pedestrian plaza, de Blasio's proposal only called for

10368-637: The developer and stored until the New York Landmarks Conservancy found a place for them. The 23-story building at 317 Madison Avenue, on the corner with 42nd Street, was designed by Carrère and Hastings and opened in 1922 as the Liggett Building. The Prudence Bond & Mortgage Building at Madison and 43rd, where Governor Al Smith once had gubernatorial campaign headquarters, dates to 1923. Two small structures along 43rd Street respectively housed "an Irish pub and

10496-423: The diagonally opposite corner. Grand Central North is a network of four tunnels that allow people to walk between the station building (which sits between 42nd and 44th Street) and exits at 45th, 46th, 47th, and 48th Street. The 1,000-foot (300 m) Northwest Passage and 1,200-foot (370 m) Northeast Passage run parallel to the tracks on the upper level, while two shorter cross-passages run perpendicular to

10624-591: The east and west sides, collectively known as "the crown". Diagonally sloped steel beams are visible on the exterior of the crown. The western section of the crown has aluminum accent strips on both the diagonal and horizontal beams. The eastern section of the crown has aluminum strips covering the diagonal beams and terracotta tiles covering the horizontal beams. The building rests on a foundation measuring 9.5 feet (2.9 m) deep, with 8,438 short tons (7,534 long tons; 7,655 t) of concrete. The foundation contains 1,000,000 pounds (450,000 kg) of rebar and

10752-419: The entrance. The theater's interior had simple pine walls spaced out to eliminate echos, along with an inglenook , a fireplace, and an illuminated clock for the convenience of travelers. The walls of the lobby, dubbed the "appointment lounge", were covered with world maps; the ceiling had an astronomical mural painted by Sarg. The New York Times reported a cost of $ 125,000 for the theater's construction, which

10880-406: The floor is terrazzo . The ceiling is composed of seven groin vaults , each of which has an ornamental bronze chandelier. The first two vaults, as viewed from leaving Grand Central, are painted with cumulus clouds , while the third contains a 1927 mural by Edward Trumbull depicting American transportation. The middle passageway houses Grand Central Market, a cluster of food shops. The site

11008-458: The following routes: These MTA Regional Bus Operations buses stop near Grand Central: The terminal and its predecessors were designed for intercity service, which operated from the first station building's completion in 1871 until Amtrak ceased operations in the terminal in 1991. Through transfers, passengers could connect to all major lines in the United States, including the Canadian ,

11136-424: The former roadbed of Vanderbilt Avenue. The Vanderbilt Avenue plaza contains five raised planters as well as LED lighting accents. Unlike other plazas in New York City, it lacks dedicated seating because the plaza was intended to facilitate pedestrian traffic rather than act as a meeting area. One Vanderbilt was designed by Kohn Pedersen Fox . Severud Associates was the structural engineer, Langan Engineering

11264-405: The fourth, fifth, and twelfth floors. At these mechanical stories, there are vertical openings for intake and exhaust, which appear as though they are part of the glass curtain wall. The top of One Vanderbilt consists of a group of pavilions at different heights, which taper to the antenna. Between the main roof on the 60th floor and a point just above the 66th floor, there are C-shaped screens on

11392-414: The fund to remain solvent until 2055. Due to demographic changes projected to continue, in order for the scheme to remain solvent in the long term it is suggested that, in the next few years, there be an adjustment to the contribution rate somewhere between 1 and 2%. This article about a South Korean company is a stub . You can help Misplaced Pages by expanding it . One Vanderbilt One Vanderbilt

11520-534: The hall held the Great Northern Food Hall, an upscale Nordic-themed food court with five pavilions. The food hall was the first long-term tenant of the space; the terminal's landmark status prevents permanent installations. Since 1999, Vanderbilt Hall has hosted the annual Tournament of Champions squash championship. Each January, tournament officials construct a free-standing glass-enclosed 21-by-32-foot (6.4 by 9.8 m) squash court. Like

11648-417: The high price of the improvements, which was quoted at $ 210 million. Conversely, transit experts stated that the cost of the improvements was justified due to the amount of work that was necessary. Shortly after One Vanderbilt's plans were revived, Andrew Penson —the founder of Midtown TDR Ventures , which owned the land under Grand Central Terminal—threatened to sue for $ 1 billion in a dispute concerning

11776-538: The name of its immediate predecessor that operated from 1900 to 1910. The name "Grand Central Station" is also shared with the nearby U.S. Post Office station at 450 Lexington Avenue and, colloquially, with the Grand Central–42nd Street subway station next to the terminal. The station has been named "Grand Central Terminal" since before its completion in 1913; the full title is inscribed on its 42nd Street facade. According to 21st-century sources, it

11904-610: The natural temperature of the building's surroundings. The natural-gas turbines were perceived as energy-efficient when One Vanderbilt was proposed in the 2010s, but they quickly became obsolete; the New York City Council banned fossil fuels in all new buildings in 2021, shortly after One Vanderbilt opened. Above floor 73, the top of One Vanderbilt contains an observation deck called Summit One Vanderbilt (branded in all-uppercase letters as SUMMIT One Vanderbilt ). Summit One Vanderbilt spans 71,938 square feet (6,683.3 m ) and contains some restaurants. In 2018, Summit One Vanderbilt

12032-455: The nearby Grand Hyatt New York hotel. The project also includes a waiting room for the Grand Central Madison terminal under Grand Central, which opened in 2023 and was built for the Long Island Rail Road as part of the MTA's East Side Access project. A 4,000-square-foot (370 m ) transit hall was created within One Vanderbilt itself to connect to the subway and railroad stations. In 2015, SL Green Realty gave $ 220 million toward

12160-452: The neighborhood failed in 2013, delaying the project for several months. TD Bank signed as the anchor tenant in May 2014 and after the skyscraper was approved one year later, the existing structures on the site were demolished. A groundbreaking ceremony for One Vanderbilt was held in October 2016. Topping out occurred on September 17, 2019, but the COVID-19 pandemic delayed its completion. The building opened in September 2020, followed by

12288-602: The north–south 45th Street Passage, which leads to 45th Street and Madison Avenue, and the network of tunnels in Grand Central North, which lead to exits at every street from 45th to 48th Street. Each of the east–west passageways runs through a different building. The northernmost is the Graybar Passage, built on the first floor of the Graybar Building in 1926. Its walls and seven large transverse arches are made of coursed ashlar travertine , and

12416-518: The observation deck 13 months later. One Vanderbilt is in the Midtown Manhattan neighborhood of New York City , just west of Grand Central Terminal . The building takes up the city block bounded by Madison Avenue to the west, the former alignment of Vanderbilt Avenue to the east, 42nd Street to the south, and 43rd Street to the north. The building's rectangular land lot covers 44,048 square feet (4,092.2 m ), with dimensions of 200 by 215 feet (61 by 66 m). Nearby structures include

12544-454: The planned skyscraper's architect that November. Sketches published early the following month indicated that the skyscraper would be called "One Vanderbilt". In late 2013, the administration of outgoing Mayor Michael Bloomberg sought to change zoning regulations for 73 blocks adjacent to Grand Central Terminal. The plan would allow unused air rights above Grand Central Terminal to be transferred to developments on these blocks, including

12672-508: The platforms via 37 stairs, six elevators, and five escalators. The tunnels' street-level entrances, each enclosed by a freestanding glass structure, sit at the northeast corner of East 47th Street and Madison Avenue (Northwest Passage), the northeast corner of East 48th Street and Park Avenue (Northeast Passage), in the two pedestrian walkways underneath the Helmsley Building between 45th and 46th streets, and (since 2012) on

12800-435: The project with several stipulations, including benches and restrooms in the proposed transit hall, as well as a requirement that SL Green maintain the plaza on Vanderbilt Avenue. Public hearings on the proposed rezoning of One Vanderbilt proceeded the next month. Constitutional lawyer Laurence Tribe testified against the proposal on behalf of Penson, under the argument that SL Green had taken Grand Central's air rights from

12928-453: The proposed One Vanderbilt. Under the proposal, developers of structures on these blocks could deposit money into an improvement fund for East Midtown and, in exchange, receive a FAR of up to 24. Some sites would be eligible for a FAR of up to 30. The zoning provision would permit One Vanderbilt to obtain the desired FAR of 30. Bloomberg withdrew his plans that November because residents, preservationists, and local politicians complained about

13056-523: The prospective influx of office workers to the area. After the rezoning proposal failed, SL Green's CEO Marc Holliday said he was unsure if he would proceed with the development of One Vanderbilt. Despite this, the design features of the planned skyscraper were retained. When Bill de Blasio succeeded Bloomberg as mayor in 2014, he wished to implement Bloomberg's Midtown East rezoning proposal. That May, TD Bank announced its interest in expanding offices within New York City, focusing in particular on

13184-489: The retail areas of the Graybar Passage, currently occupied by wine-and-liquor store Central Cellars, was formerly the Grand Central Theatre or Terminal Newsreel Theatre. Opened in 1937 with 25-cent admission, the theater showed short films, cartoons, and newsreels from 9 a.m. to 11 p.m. Designed by Tony Sarg , it had 242 stadium-style seats and a standing-room section with armchairs. A small bar sat near

13312-527: The room was damaged during the construction that converted the Biltmore Hotel into the Bank of America Plaza. In 1985, Giorgio Cavaglieri was hired to restore the room, which at the time had cracked marble and makeshift lighting. During that era, a series of lockers was still located within the Biltmore Room. Later, the room held a newsstand, flower stand, and shoe shine booths. In 2015, the MTA awarded

13440-447: The site. During demolition of one of the buildings that July, a chandelier and a banister fell on four construction workers who were taking down the chandelier, injuring them. By the following month, some excavations had begun. With excavation ongoing, in September 2015, SL Green filed construction plans for a 1,400-foot-tall (430 m) tower, slightly shorter than what had been announced the previous year. The same month, Penson sued

13568-441: The skyscraper continued. In January 2018, Tishman, SL Green, and Liberty Mutual agreed to let Navillus complete the subcontract for One Vanderbilt's construction. One Vanderbilt's construction proceeded faster than originally scheduled and, by February 2018, the tower had been completed to the ninth floor. By June of the same year, the tower had reached the sixteenth floor. Facade installation began in August 2018, at which point

13696-522: The skyscraper to be constructed similarly to buildings without any concrete core. By the time Severud had published its "100% construction documents" that finalized the construction details, several stories of the steel frame had been erected. The method of construction allowed the steel inside the core to be erected six to twelve floors ahead of the concrete. At the base, the core walls are 30 inches (760 mm) thick and can resist forces of 14,000 pounds per square inch (97,000 kPa). On higher stories,

13824-456: The south side of 47th Street between Park and Lexington avenues. Pedestrians can also take an elevator to the 47th Street passage from the north side of East 47th Street, between Madison and Vanderbilt avenues; this entrance adjoined the former 270 Park Avenue . Proposals for these tunnels had been discussed since at least the 1970s. The MTA approved preliminary plans in 1983, gave final approval in 1991, and began construction in 1994. Dubbed

13952-427: The southeast corner to be cantilevered . The superstructure consists of a steel-and-concrete mechanical core surrounded by a steel frame. The building uses more than 26,000 short tons (23,000 long tons; 24,000 t) of steel, manufactured by Bankers Steel, as well as 74,000 cubic yards (57,000 m ) of concrete. The steel was installed in the core first, with the concrete poured around it, which allowed

14080-414: The structure had passed the 30th floor, or more than half its eventual height. By November, the structure had reached the 56th floor, high enough to provide views above neighboring buildings. Around that time, SL Green refinanced the construction loan, increasing it to $ 1.75 billion and reducing the interest rate. The building topped out on September 17, 2019. At the end of 2019, SL Green announced that

14208-427: The terminal. The clock hung inside the gate at Track 19 until 2011, when it was moved so it would not be blocked by lights added during upper-level platform improvements. Metro-North's lost-and-found bureau sits near Track 100 at the far east end of the Dining Concourse. Incoming items are sorted according to function and date: for instance, there are separate bins for hats, gloves, belts, and ties. The sorting system

14336-509: The terracotta cladding. According to Permasteelisa, there are 34,845 terracotta tiles used in One Vanderbilt's facade. Studio Christine Jetten designed glazing for the terracotta tiles. The panels contain gradual concave curves and are pearl-colored. The tiles reference the color and material used in Grand Central Terminal. and alluded to the color of other office buildings on Madison Avenue. There are mechanical stories on

14464-688: The three, the Lexington Passage, was originally known as the Commodore Passage after the Commodore Hotel , which it ran through. When the hotel was renamed the Grand Hyatt, the passage was likewise renamed. The passage acquired its current name during the terminal's renovation in the 1990s. The Shuttle Passage, on the west side of the terminal, connects the Main Concourse to Grand Central's subway station. The terminal

14592-523: The tower's construction. The improvements included an underground connection between Grand Central Terminal and One Vanderbilt; new mezzanines and exits for the subway station, including an entrance directly to the 42nd Street Shuttle platforms; three new stairways to each of the Lexington Avenue Line platforms (along the 4 , ​ 5 , ​ 6 , and <6> trains); and reconfiguration of columns supporting

14720-408: The tracks. The 47th Street cross-passage runs between the upper and lower tracks, 30 feet (9.1 m) below street level; it provides access to upper-level tracks. The 45th Street cross-passage runs under the lower tracks, 50 feet (15 m) below street level. Converted from a corridor built to transport luggage and mail, it provides access to lower-level tracks. The cross-passages are connected to

14848-448: The upper level and 26 on the lower. In total, there are 67 tracks, including a rail yard and sidings ; of these, 43 tracks are in use for passenger service, while the remaining two dozen are used to store trains. Grand Central Terminal was named by and for the New York Central Railroad , which built the station and its two predecessors on the site. It has "always been more colloquially and affectionately known as Grand Central Station",

14976-463: Was advertising the top two floors at rates of up to $ 322 per square foot ($ 3,470/m ), the highest office rents in the city. Ticket sales for Summit One Vanderbilt launched in September 2021, a month before the planned October 21 opening, and a press preview was held on September 24. The building was 90 percent leased by October 2021; the Financial Times quoted Holliday as saying he wished

15104-490: Was among the most famous trains of its time. From 1971 to 1991, all Amtrak trains using the intrastate Empire Corridor to Niagara Falls terminated at Grand Central; interstate Northeast Corridor trains used Penn Station. Notable Amtrak services at Grand Central included the Lake Shore , Empire Service , Adirondack , Niagara Rainbow , Maple Leaf , and Empire State Express . Grand Central Terminal

15232-466: Was attributed to construction of an elevator between the theater and the suburban concourse as well as air conditioning and apparatuses for people hard of hearing. The theater stopped showing newsreels by 1968 but continued operating until around 1979, when it was gutted for retail space. A renovation in the early 2000s removed a false ceiling, revealing the theater's projection window and its astronomical mural, which proved similar in colors and style to

15360-470: Was boarded up in preparation for its restoration in 1991. During the process, a temporary waiting room was established on an upper level of the terminal. Around 1998, the renovated hall was renamed in honor of the Vanderbilt family , which built and owned the station. It is used for the annual Christmas Market, as well as for special exhibitions and private events. From 2016 to 2020, the west half of

15488-415: Was computerized in the 1990s. Lost items are kept for up to 90 days before being donated or auctioned off. As early as 1920, the bureau received between 15,000 and 18,000 items a year. By 2002, the bureau was collecting "3,000 coats and jackets; 2,500 cellphones; 2,000 sets of keys; 1,500 wallets, purses and ID's [ sic ]; and 1,100 umbrellas" a year. By 2007, it was collecting 20,000 items

15616-477: Was designed and built with two main levels for passengers: an upper for intercity trains and a lower for commuter trains. This configuration, devised by New York Central vice president William J. Wilgus , separated intercity and commuter-rail passengers, smoothing the flow of people in and through the station. The original plan for Grand Central's interior was designed by Reed and Stem , with some work by Whitney Warren of Warren and Wetmore . The Main Concourse

15744-649: Was fabricated by the Permasteelisa Group . According to Permasteelisa, the facade is made of 8,743 pieces in 1,060 distinct shapes, covering 753,500 sq ft (70,000 m ). Of these, about 660 panels are placed at the corners; they had to be manufactured in different shapes because the building slopes upward. There are two typical shapes of panels used in the facade: vision glass windows, which extend up to 22 feet (6.7 m) high, as well as ventilated spandrels between each story, which are made of terracotta . Boston Valley Terra Cotta manufactured

15872-445: Was originally a segment of 43rd Street which became the terminal's first service dock in 1913. In 1975, a Greenwich Savings Bank branch was built in the space, which was converted into the marketplace in 1998, and involved installing a new limestone façade on the building. The building's second story, whose balcony overlooks the market and 43rd Street, was to house a restaurant, but is instead used for storage. The southernmost of

16000-645: Was originally configured with two parallel passages, later simplified into one wide passageway. Ramps include the Vanderbilt Avenue ramp and the Oyster Bar ramps. The Vanderbilt Avenue or Kitty Kelly ramp leads from the corner of Vanderbilt Avenue and 42nd Street down into the Shuttle Passage. Most of the space above the ramp was built upon in the 20th century, becoming the Kitty Kelly women's shoe store, and later operating as Federal Express. The ramp

16128-507: Was projected to cost approximately $ 35–39 million. As of 2021 , the adult ticket fee is $ 39, but New York City residents receive a discount. Summit One Vanderbilt consists of four components, the interiors of which are being designed by Snøhetta . The first part, "Rise", has three high-speed Schindler 7000 series elevators, which take visitors from the Grand Central Terminal level to the observation area 1,020 feet (310 m) above ground in less than 50 seconds. The second part, "Levitation",

16256-552: Was returned to its original two-story volume during the terminal's 1998 restoration. The Oyster Bar ramps lead down from the Main Concourse to the Oyster Bar and Dining Concourse. They span a total of 302 ft (92 m) from east to west under an 84 ft (26 m) ceiling. A pedestrian bridge passes over the ramps, connecting Vanderbilt Hall and the Main Concourse. In 1927, the ramps were partially covered over by expanded main-floor ticket offices; these were removed in

16384-549: Was the civil engineering consultant, and Jaros, Baum & Bolles was the mechanical and electrical engineer. Structural consultant Thornton Tomasetti worked with Severud to create models for the building's superstructure . Hines Interests Limited Partnership was the project manager, and Tishman Construction was the general contractor. The skyscraper's top floor is numbered 73. According to The Skyscraper Center and building permits, One Vanderbilt has 58 usable stories above ground, while according to Emporis and Hines,

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