Marx Realty's 10 Grand Central.
NEW YORK CITY-New York-based real estate investment management firm Marx Realty has signed 184,000 square feet of new leases at 10 Grand Central since the announcement of the 36-story building's $48 million repositioning in mid-2018. Since then, occupancy has increased from 78 percent to 95 percent.
The Ely Jacques-Kahn designed 1930's office tower features a redesigned four-story entry portal, marquee, lobby, lounge, outdoor terrace and large conference space. Current tenants at the property include Dwayne "The Rock" Johnson's production company Seven Bucks Productions, UK-based sports private equity firm 23 Capital, asset management firm Everside Capital Partners, educational technology company Decoded, weekly news magazine The Week & Dennis Publishing, communications consultant Montieth & Company, investment firm Benenson Capital Partners and advertising association powerhouse ANA.
Just recently Craig Deitelzweig, president and CEO of Marx Realty, announced investment management firm Rubric Capital signed a 5,800-square-foot, seven-year lease on the 16th floor at 10 Grand Central, securing the last of the Marx Realty's upscale pre-built suites at the property. Cushman & Wakefield representedRubric Capital for its new rental space, which has an asking rent of $88 per square foot.
"We are thrilled to welcome Rubric Capital to 10 Grand Central," said Deitelzweig. "This hedge fund joins a truly remarkable roster of tenants that includes well-known firms representing industries ranging from media and technology to financial and business service entities. The repositioning continues to draw high-profile tenants attracted to 10 Grand Central's first-of-its-kind hospitality-infused aesthetic."
With this leasing milestone, Marx Realty is beginning to attract companies to fill 25,000 square feet of its uber-luxury Penthouse Collection under development on the 32nd-36th floors.
The new façade of 10 Grand Central features its soaring marquee with brass fins and oversized walnut doors, which are attended by uniformed doormen. The lobby has walnut wood, brushed brass, and polished concrete accents reminiscent of a hotel that continues throughout a suite of hospitality-styled amenities on the seventh floor. The lounge boasts oversized artwork and a café with built-in appliances as well as furnishings fashioned in "Grand Central Green," in a nod to the building's proximity to Grand Central Station. In addition, the lounge also includes a 40-seat conference facility and opens to the Ivy Terrace, an inviting outdoor space reminiscent of a 1930s era garden party.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
