Savills, CBRE and JLL lease 27,000 s/f at Marx Realty’s 10 Grand Central

Manhattan, NY Marx Realty has signed 27,000 s/f of new leases at its 10 Grand Central office building. With 20% of office tenants in the building seeking to grow in place at the repositioned building. 1-800-Flowers will move from a sublease on the 18^th floor to Marx Realty’s current 9,000 s/f space on the seventh floor while Marx will be expanding and moving to 11,000 s/f on the 11^th floor. Additionally, UK-based alternative asset management platform Hayfin Capital Management has signed a new lease and will relocate from a similar sized space at the GM building (767 5^th Ave.) to 7,000 s/f on the 16^th floor at 10 Grand Central, a space made available by Teladoc’s move to the 17^th floor.

“10 Grand Central has become known as the ‘it’ building in New York and, with the comprehensive and glamorous amenity package offered here, many of our growing tenants wouldn’t want to be anywhere else,” said Craig Deitelzweig, CEO of Marx Realty. “In many cases, tenants signed on when space needs were in a state of flux. As we continue to elevate the amenity experience with inspiring and collaborative spaces and as the in-person workforce continues to grow, tenants are committed to expanding at 10 Grand Central. We currently have several tenants seeking to at least double their footprint at 10 Grand Central. We love working with existing tenants to accommodate growth and welcome new tenants from other buildings that didn’t meet the needs of a modern workspace.”

Chris Foerch of Savills represented 1-800-Flowers and a CBRE Team of Arkady Smolyansky, Masha Dudelzak, Jacob Rosenthal and Gerry Miovski represented Hayfin. A JLL team of Mitchell Konsker, Thomas Schwartz, Carlee Palmer, and Nicole Danyi represented Marx Realty on both transactions.

Marx Realty recently completed 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 – continues to drive leasing activity at 10 Grand Central. As a complement to the 7,500 s/f indoor/outdoor club floor added as part of the initial repositioning at 10 Grand Central in 2018, tenants now enjoy a next-generation ‘town hall’ meeting lounge with seating for 200 guests (The Grand Gallery), a pre-function space (The Bar Car), a sound-attenuated podcast room (The Podcast Gallery) and a theater room (The Screening Gallery).

In a nod to nearby Grand Central Terminal, The Meeting Galleries space exudes a luxury train liner aesthetic harkening back to the 1930s. Finishes inspired by Guastavino tiles complement oversized murals and custom art pieces fashioned in oxidized copper. Gold-backed murals create a ‘garden party’ feel and lend an art gallery-like sensibility throughout the different spaces, each appointed with a variety of seating options. Oversized windows with soft, rounded edges mimic those found on train liners and infuse the space with natural light while private nooks with fold-down tables, similar to those found in a luxury train car, add timeless sophistication and contemporary functionality to the space.

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 building is also home to the MarxMobile, an electric Porsche Taycan that serves as the building’s house car.

“Marx Realty pioneered the hospitality infused sensibility in 2018,” said Deitelzweig. “We continue to blur the lines between hotel and office with our authentic and thoughtful approach to workplace design.”

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 roster of tenants includes bank holding company Merchants Bancorp; global asset manager Fin Capital; and global independent fund manager DIF Capital Partners; and investment firm Family Management Corporation. 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.