Excavation of the site where the One Vanderbilt skyscraper was approved last week to be built is coming along at a fast pace, according to the building's Instagram.
One of New York real estate's most tedious legal battles — literally over "air rights" — was resolved last week, paving the way for the 67-story tower to be built on the block bound by East 42nd and 43rd streets and Madison and Vanderbilt avenues.
The developer, SL Green Realty Corporation, set up an Instagram account to track the construction of the site:
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When the building is completed in an expected five years, it is supposed to be the third-tallest building in the city, behind 1 World Trade Center and the planned Central Park Tower.
The year-long, $1.1 billion lawsuit between the owners of Grand Central Terminal and SL Green ended with a "de minimis" settlement.
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