NEW YORK CITY—Metro-North has added nearly 25,000 square feet to its space at the iconic Graybar building, at 420 Lexington Ave. The rail line's expansion lease—which is in place for 19 years and adds 24,928 square feet to its offices—brings the tenant's Midtown footprint up to 321,185 square feet at the SL Green owned building.

The asking rent in the new agreement was $65 per square foot, according to the Commercial Observer. Situated between East 43rd and East 44th Streets, the 1.5-million-square-foot building is now at 98% occupancy and is adjacent to Metro North's main hub at Grand Central Terminal. 

“Metro North has been a tenant at the Graybar Building for over 20 years and we are delighted to once again accommodate their ongoing expansion,” says SL Green's Steven Durels, the head of leasing and real property. The REIT, which is New York City's largest office landlord, was represented in-house for the transaction

Josh Kuriloff and Jodi Roberts of Cushman & Wakefield represented Metro North in the expansion, according to The New York Post, which first reported news of the deal. Cushman did not respond to GlobeSt.com's request for comment by press time.

Metro-North last expanded at 420 Lexington Ave. in 2013, when it added 132,000 square feet of office space to its existing 133,503 square feet. That expansion, and renewal, were signed for 20 years.