10 Grand Central entrance moved to 44th Street
NEW YORK CITY—Tenants are enjoying the recent renovations at Marx Realty's 10 Grand Central with the Association of National Advertisers extending its lease in the building to 52,000 square feet. The trade association grew an additional 11,000 square feet, and will be on the second, third, fourth and eighth floors. They'll expand into their new space in mid-June. The tenant committed to occupying the entire larger footprint with a 15-year lease.
A Marx Realty spokesperson states the asking rents in the building now range from $72 to $97 per square foot. Previously, rents had been $68 per square foot in the base, $75 per square foot in the mid-rise portion and $78 per square foot in the high-rise tower suites.
Ten Grand Central formerly had the address of 708 Third Ave. and currently has the alternate address of 155 E. 44th St. It's situated between Third and Lexington avenues.
“Both current and prospective tenants have been exceedingly enthusiastic about 10 Grand Central's special hospitality-infused offering,” says Craig Deitelzweig, Marx Realty's president and CEO. “ANA's expansion and recommitment to 10 Grand Central is a direct result of our successful repositioning.”
The building is now 89% leased. Representing a mix of industries, building tenants include Benenson Capital, White Oak, Equity Partners, Marks O'Neill, TRNC, PMC Treasure, World Federalist Movement, CGB, Global Source Partners and The Week. Plus, GlobeSt.com learned from an industry source that Seven Bucks Productions, “The Rock” Dwayne Johnson's movie production company, is also in the building.
JLL's Howard Hersch and Sam Seiler represented Marx Realty; Jeffrey Peck of Savills Studley represented ANA.
Ten Grand Central states the new lobby, oversized conference space and Ivy Terrace are all part of the experience for tenants and their guests. Keep watching GlobeSt.com where we'll feature an upcoming slideshow to show you an insider's view of the upgraded space, taking you behind the scenes of the architectural makeover.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
