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t Marx Realty's 10 Grand Central, a 450,000 square-foot Art Deco property, the landlord is moving its own headquarters to accommodate another tenant. This indicates that the building is in high demand. The move will allow 1-800-Flowers to expand into the space from a smaller sublease on the 18th floor.

    Marx Realty's CEO, Craig Deitelzweig, attributes the building's success to its repositioning in 2018, which included renaming it and moving the entrance. Since then, the property has become a leasing juggernaut, with over 95% of its offices spoken for. The building is now home to several high-profile tenants, including alternative asset management platform Hayfin Capital Management.

    Deitelzweig notes that companies are now eager to expand their presence in the office after hesitating during and immediately following the pandemic. He attributes this shift to the return to traditional work schedules, with employees spending four or five days a week in the office.

    Rents at 10 Grand Central have increased significantly over the past year, from $82 per square foot to $130, and are expected to reach $230 on two newly converted floors. The building's amenities complex, The Meeting Galleries, has also become a major draw for tenants, featuring four different spaces for corporate meetings and events with a luxurious 1930s train-inspired design.