Marx Realty inks 19,000 s/f lease renewals/expansions

Manhattan, NY Marx Realty (MNPP) said that investment advisory firm, Family Management Corp. is more than doubling its footprint at 10 Grand Central expanding from 4,800 s/f to 11,000 s/f with a seven-year term. Weidenbaum & Harari, a New York-based law firm focused on serving the legal needs of the real estate and construction industries, renewed its 8,000 s/f lease for a seven-year term. The recent activity comes on the heels of the completion of The Meeting Galleries, a new 11,000 s/f amenity comprising four reservable spaces to accommodate board meetings, corporate retreats, company gatherings, product launches, team building activities, podcast productions and much more.

JLL’s Mitchell Konsker, Carlee Palmer, Thomas Schwartz, and Nicole Danyi are leading a team handling the leasing for Marx Realty. Family Management Corp. was represented by Rob Silver of Newmark. Weidenbaum & Harari was represented by Doug Levine of Newmark. 

“We began taking reservations for The Meeting Galleries spaces well before construction was complete and consistently receive enthusiastic feedback from existing and potential tenants as well as brokers touring the building,” said Craig Deitelzweig. “The recent renewal and expansion were driven by our best-in-market, premier amenity offering which redefined the workplace experience before the market knew it needed to be rethought.”

From a next-generation ‘town hall’ meeting lounge with seating for 200 to pre-function, podcast and theater rooms, The Meeting Galleries exudes a luxury train liner aesthetic that complements the well-received 7th floor club lounge and terrace. The new space harkens back to the 1930s when hospitality was king and white glove experiences were reserved only for the elite while punctuating a hospitality-infused package that combines workspace functionality and luxury hotel ambiance.

The Meeting Galleries consists of four defined spaces: The Bar Car (a pre-function space outfitted with Baccarat accessories and barware); The Grand Gallery (a meeting lounge unlike any other with space for 200 participants in an exceptional setting with grand arched ceilings); The PodCast Gallery (a bespoke sound-attenuated space equipped with technology needed to produce and record podcasts); and The Screening Gallery (a theater with plush stadium seating and a 150” screen).

The Bar Car – the dramatic pre-function space – includes a floor-to-ceiling bronze fireplace and a green stone bar accented with open shelving and integrated mirror panels to provide a striking entrance into the space. The includes a variety of plush velvet seating options and warm walnut wood panels throughout to accent the inviting experience. Distinctive art pieces fashioned in oxidized copper and graceful, gold-backed murals will lend an art gallery-like quality to the space while windows with soft, rounded edges mimic those found on train liners and infuse the space with natural light. Private nooks with fold-down tables, similar to those found in a luxury train car, add timeless sophistication and contemporary functionality to the space.

Artwork inspired by Guastavino tiles adorns the Grand Gallery with a distinctive sensibility reminiscent of the many spaces in Grand Central Terminal while offering a variety of plush seating options, a burl-wood backdrop, hardwood flooring and regal burnt orange carpeting. The Podcast Gallery is framed with a half wall of fluted glass – including an ‘on air’ lighted sign -- and is equipped with the latest technology for production and recording functions. Inside the Screening Gallery, the ceiling is peppered with pin lights to simulate the constellation-inspired ceiling at Grand Central Terminal and offers tenants the opportunity to watch movies or training videos, hold team-building gatherings or connect with colleagues around the world via video conferencing.

Asking rents at 10 Grand Central range from $82-140 per square foot.

The Meeting Galleries is the latest evolution of Marx Realty’s hospitality-infused renovation at 10 Grand Central which, in 2018, included a stunning new façade with marquee brass fins and oversized walnut doors, attended by a uniformed doorman, as well as a redesigned lobby featuring walnut wood and brushed brass accents. The 7th floor lounge, added as part of the initial repositioning at 10 Grand Central, comprises 7,500 square feet of indoor/outdoor club space equipped with a café, a 40-seat conference space, and The Ivy Terrace, an outdoor space reminiscent of a 1930’s garden party. The building is also home to the MarxMobile, an electric Porsche Taycan that serves as the building’s house car, further blurring the lines between hotel and office.

Studios Architecture, together with Marx Realty’s in-house design team, led the redesign of the building as well as designs for The Meeting Galleries. The building’s notable roster of tenants includes bank holding company Merchants Bancorp; global asset manager Fin Capital; and global independent fund manager DIF Capital Partners. High-profile tenants also include Dwayne “The Rock” Johnson’s production company, Seven Bucks Productions (as reported by the New York Post); insurance giant MassMutual; and, international news agency Agence France-Presse.