Manhattan, NY Marx Realty shared that telemedicine giant Teladoc Health has expanded and extended its lease at 10 Grand Central. The firm will more than double its footprint at the repositioned office tower taking a total of 15,000 s/f in a 10-year deal as it relocates its corporate headquarters from Purchase. Exiger, a cyber security and supply chain technology firm, will take 7,000 s/f in a new, seven-year lease at 10 Grand Central.
Teladoc was represented by Sean Lynch of JLL while Exiger was represented by Mitchell Konsker and Simon Landsmann of JLL. JLL’s Mitchell Konsker, Carlee Palmer, Simon Landmann, and Thomas Schwartz are leading a team handling leasing for Marx Realty. Asking rents at 10 Grand Central range from $78 to $130 per s/f
“The Teladoc story is compelling in that the firm has chosen to abandon its suburban New York headquarters in favor of the spectacular office experience and one-seat commute we offer tenants at 10 Grand Central,” said Craig Deitelzweig, CEO of Marx Realty. “10 Grand Central provides much more than just work spaces. Tenants view their office locations as recruiting tools, collaboration hubs and extensions of their own brands. The incredible leasing velocity at 10 Grand Central is proof positive that we created a new benchmark for workplace design when we pioneered the hospitality-infused aesthetic at 10 Grand Central in 2018 and we’re seeing similar success across our portfolio as we have effectively blurred the line between office and hotel.”
Marx Realty created an all-encompassing sensory experience at 10 Grand Central, starting with its bold façade featuring marquee brass fins and oversized walnut doors, attended by a uniformed doorman. Inside, the lobby showcases rich walnut wood and brushed brass accents infused with the firm’s signature scent. The 7,500 s/f indoor/outdoor lounge and club floor includes a café, a 40-seat conference space, and The Ivy Terrace – an outdoor area inspired by the elegance of a 1930s garden party. Adding to the building’s unique blend of hospitality and office space, an electric Porsche Taycan, dubbed the MarxMobile, serves as the house car.
The strong leasing momentum and incredible demand for the members only club-like amenities at 10 Grand Central have led the creation of “The Meeting Galleries,” a recently delivered suite of spaces unlike anything currently available in the market. The Meeting Galleries will encompass 11,000 s/f of well-appointed amenity space, including The Grand Gallery, capable of hosting up to 200 people in a town hall or classroom configuration; The Screening Gallery with stadium seating; The Bar Car featuring a fireplace, a pre-function area, and a lounge with a variety of seating areas and private work rooms; and The Podcast Gallery, a tech-equipped soundproof booth with state of the art production equipment.
The Galleries’ aesthetic boasts a distinctive homage to the designs of nearby Grand Central Terminal, dramatic new windows in the style of luxury train car windows, and a luxury train liner-style vibe complemented by old-school antiqued mirrored ceilings and period-specific artwork that echoes the grandeur of the Art Deco era while capturing the rheritage of the building.
“This evolution in our amenity offering at 10 Grand central is a resounding success,” said Deitelzweig. “New and existing tenants are enamored by the beauty and functionality of The Galleries as the perfect complement to the sensory experience we created at 10 Grand Central.”
Marx Realty has secured over 100,000 s/f of office and ground-floor retail space at 10 Grand Central in the last year. Tenants also include Dwayne “The Rock” Johnson’s production company, Seven Bucks Productions; insurance giant MassMutual, and international news agency Agence France-Presse. Additional notable tenants include law firm Lewis Baach and bank holding company Merchants Bancorp. Sweetgreen, Maman and Cava occupy street-level retail spaces at 10 Grand Central offering tenants convenient access to fast-casual dining options.
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