Marx Realty recently announced the conclusion of two new office leases totalling 14,000 square feet at its property, 10 Grand Central. These developments underscore the ongoing appeal of the location for diverse businesses.
As part of the larger of the two deals, private equity firm Brenton Point Capital Partners will relocate its offices from 900 Third Avenue to 10 Grand Central. The company will occupy 9,000 square feet on the 24th floor. The reported rent for this space is $108 per square foot, as stated by Marx Realty.
Further Lease and Building Profile
Concurrently, CornerStone, an artificial intelligence-based Human Capital Management company currently located at 11 West 42nd Street, will lease 5,000 square feet on the second floor of 10 Grand Central. The rent for this space is $85 per square foot, Marx added.
Craig Deitelzweig, CEO of Marx Realty, commented on the recent deals. He emphasised that the leases reflect the selection of premium businesses choosing 10 Grand Central, as well as the positive experience offered there. Deitelzweig elaborated that Brenton Point and Cornerstone would benefit from an environment that combines thoughtful design, highly personalised service, and an extensive range of hospitality-inspired amenities.
Brokers and Existing Tenants
Cornerstone was represented in this transaction by Josh Pernice and Frederick Fackelmayer of CBRE. Brenton Point was also represented by CBRE, specifically by Owen Reda and Gary Davies. Marx Realty was represented in both cases by Mitchell Konsker, Thomas Schwartz, Carlee Palmer, and Margaux Kelleher of JLL. The duration of the individual leases was not disclosed.
The 35-storey building, 10 Grand Central, is located directly next to Grand Central Terminal and adopts a hotel-like approach to the office environment. Tenants are offered concierge services and amenities comparable to a five-star resort. Other tenants at 10 Grand Central include the global data analytics company Curinos, bank holding company Merchants Bancorp, and national business consulting firm Riveron.
