TD Bank (TD +2.9%) is considering being the principal tenant for a new Midtown skyscraper across from Grand Central Terminal being developed by SL Green Realty (SLG), reports the WSJ. The developer says the building - named One Vanderbilt - could have 1.6M square feet of space, and drawings show it towering over the nearby Chrysler building.
The bank's U.S. unit has seen big growth in recent years, and while it has a number of branches in NYC, it has only a small amount of office space. It's not known, says the Journal, if TD is looking at other locations.
TD's stock is having a big session following its FQ1 results this morning, hitting a new all-time of nearly $49 per share.
Previously: Strong retail results for TD Bank