NEW YORK CITY—"It's the first office building that marries hospitality with office," explains Craig Deitelzweig, Marx Realty's president and CEO. He spearheaded the $45 million renovations recently completed at 10 Grand Central, the art deco skyscraper standing at 155 E. 44th St.

"So many buildings are white, marble clad. Close your eyes and open them and you could be in Dubai or Ohio. There is often no reference to the city. We are the opposite of that. Each of our assets will really speak to the character of the building." Part of the repositioning returned the front door to E. 44th St., where it originally was located for access to Grand Central Terminal. Over the years it was moved and the office tower had the address of 708 Third Ave.

Ten Grand Central has green details in reference to the green color of the historic transportation hub referenced in its name, which is conveniently down the street. "We have been finding tenants have been really embracing the building's character," says Deitelzweig.

And the numbers are backing up Marx Realty's capital improvement campaign. Prior to the repositioning rents at the building were averaging $48 per square foot in the base, with asking rents at $75 per square foot in the mid-rise level and $78 per square foot in the high-rise tower suite. Now, the asking rents range from $72 to $97 per square foot. Plus, the building is 89% leased.