Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
That Giant Glass Tower Across The Street From Grand Central Will Happen
By
David Colon
Published Aug 11, 2016
Modified Aug 11, 2016
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
David Colon
Published Aug 11, 2016
Modified Aug 11, 2016
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
While the renderings and plans for the 1 Vanderbilt skyscraper have been floating around for a little over a year now, a billion-dollar lawsuit over whether or not the development infringes on the air rights over Grand Central Terminal threatened to kill the development. However, the NY Times reports the rich folks battling over the air rights have called a truce, paving the way for the 63-story office tower to go up.
The lawsuit, brought by Midtown TDR Ventures against 1 Vanderbilt developer SL Green Realty, hinged on whether the City Council rezoning of an area between East 42nd and East 47th Streets that allowed SL Green to build their tower was an illegal giveaway of Grand Central Terminal's air rights. We'll never know if it was or not, because the two settled out of court, with a source telling the Times that the amount of the settlement was "de minimis" (rich person speak for "too trivial to even mention," but in this case still probably more money than you'll ever see).
So with this kaiju battle finished and one of the monsters peacefully returning to the sea with a big bag of money, there's no more hurdles in front of the 63-story, 1,401-foot skyscraper and promised $220 million worth of transit improvements in and around Grand Central. Other than, of course, your normal construction hurdles that delay things around here. Both the skyscraper, which will have TD Bank as a flagship tenant, and the promised transit upgrades, are scheduled to change Midtown forever in 2021.
Tagged
1 vanderbilt
grand central
kaiju real estate battel
midtown
David Colon
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Man shot and killed on Midtown subway platform Saturday afternoon, NYPD says
Police said they're searching for a person of interest.
By
Ryan Kost
and
Elizabeth Kim
Published Oct 17, 2026 at 1:16 p.m. ET
Modified Oct 17, 2026 at 4:10 p.m. ET
Have you seen this Yorkie? NYPD looking for adorable pup dognapped from her Queens home
Suspects were driving a Subaru Forester, police said.
By
Ryan Kost
News
Have you seen this Yorkie? NYPD looking for adorable pup dognapped from her Queens home
Suspects were driving a Subaru Forester, police said.
By
Ryan Kost
Being reigning champions is weird for Knicks fans, but we could get used to this.
By
Catalina Gonella
Tompkins Square Park is getting a makeover. Some say it's too much.
By
Willow Higgins
Deer are all over New Jersey roads looking for sex, state officials warn
By
Rosemary Misdary
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .