HLTH signs 12,000 s/f expansion lease at 10 Grand Central

New York, NY Marx Realty (MNPP), a New York-based owner, developer and manager of office, retail and multifamily property across the United States, announced the largest conference organizer for health innovation, HLTH, has signed a 12,000 s/f lease expansion and 7-year renewal at the iconic 10 Grand Central office tower. HLTH expands its footprint from 7,000 s/f to 19,000 s/f on the sixth and seventh floors. Marx Realty has also signed an additional 15,000 s/f of additional new leases at the property.

Led by Jonathan Weiner, the founder of Money 20/20 and a venture partner at Oak HC/FT, a $1 billion growth equity venture fund, HLTH relocated from 90 Park Ave. to 10 Grand Central in 2019. The expanded new space and long-term renewal will allow the company to expand its function.

"HLTH's significant expansion, along with the building’s brisk leasing activity, is a testament to the appeal of our game-changing hospitality-infused office design sensibility and we’re excited to welcome a remarkable collection of new tenants at 10 Grand Central," said Craig Deitelzweig, president and CEO of Marx Realty.

Marx Realty also announced a 5,212 s/f, three-year lease for golf investing company LIV Golf Inc. taking the entire 32nd floor, part of 10 Grand Central's exclusive Penthouse Collection. The most recent addition at 10 Grand Central, the Penthouse Collection, was developed during the pandemic and consists of 20,000 s/f on floors 32 through 36. Floors 32 and 33 have been officially delivered while the rest of the collection is expected to be delivered later this year.

Additional new leases include a 4,782 s/f, five-year lease with investment advisor Family Management Corp on the 21st floor; and a 2,327 s/f, a three-year lease for real estate technology company Kasa Living on the 21st floor. 10 Grand Central also welcomes Mediterranean restaurant CAVA, which will occupy 2,600 s/f of street-level space with frontage on the corner of 44th St. and Third Ave.

"10 Grand Central reset the bar for hospitality-focused office design in 2019 and we are proud to have created an entirely new asset class through our signature hospitality-infused approach to office space, a strategy that is proving successful at other Marx-owned buildings including the recent repositioning of 545 Madison in New York as well as The Herald in Washington D.C. and The Department Building in Atlanta" said Deitelzweig.

Marx Realty's $48 million redesign of the 35-story, Ely Jacques-Kahn designed 10 Grand Central was completed in 2019. Among the building's features are the four-story entry portal with a marquee and oversized walnut doors attended by a uniformed doorman, a styled lobby as well as a 7,500 s/f indoor/outdoor club floor, a lounge, 40-seat conference space and The Ivy Terrace.

The redesign was led by David Burns, principal of Studios Architecture. JLL’s Mitchell Konsker, Benjamin Bass, Kip Orban, Carlee Palmer, and Thomas Schwartz are leading a team handling the leasing for Marx Realty. The building’s asking rents range between $65 and $120 per s/f.