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One Vanderbilt May Cost More Than $3B to Construct

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It'd rank as one of New York City's most expensive buildings

File this one under "duh": One Vanderbilt, SL Green's forthcoming Midtown East supertall, is going to be super pricey to build. The Real Deal reports that the building, slated to rise 1,500 feet, could have a total cost of as much as $3.14 billion, which would put it in the same ballpark as expensive skyscrapers like One World Trade Center, which cost around $3.8 billion to construct.

But SL Green isn't looking to build this skyscraper alone: During a conference, CEO Marc Holliday told an assembled crowd that the firm is looking to partner with other companies on developing the more than 1 million-square-foot tower, which would help defray some of the cost of the building.

Construction on the skyscraper has yet to begin, but SL Green is also seeking a loan of about $1.5 billion to help with construction costs. Once it gets underway, the building is expected to be completed by 2021.

One Vanderbilt

1 Vanderbilt Avenue, Manhattan, NY 10017 Visit Website