Financial Firms Attracted to the Building’s Location and Premiere Hospitality Offering
Marx Realty, a New York-based owner, developer and manager of office, retail and multifamily property across the United States, announced DIF Capital Partners, Colibri Equity Ventures, and Fin Capital have signed long-term leases totaling 11,872 square feet at 10 Grand Central. Global asset manager Fin Capital will be taking the entire 5,212-square-foot space on the 33rd floor while global independent fund manager DIF Capital Partners and venture capital firm Colibri Equity Ventures take 3,745 square feet and 2,915 square feet respectively on the 23rd floor.
“10 Grand Central continues to attract outstanding tenants,” said Craig Deitelzweig, president and CEO of Marx Realty. “The building’s repositioning strategy and role in Midtown Manhattan’s post-pandemic rebirth has resonated with the market and it’s incredibly exciting to elevate 10 Grand Central’s position as one of Midtown’s most exciting office offerings.”
DIF Capital Partners was represented by Anthony Manginelli of CBRE while Gabi Koshgarian of Vicus Partners represented Fin Capital. JLL’s Carlee Palmer represented Colibri Equity Ventures in the transaction. The leases asking rents ranged between $87 and $99 per square foot.
The Ely Jacques-Kahn-designed office tower underwent Marx Realty’s signature top-to-bottom reposition strategy in 2019. Among the building’s most impressive features are the new façade’s soaring marquee brass fins and oversized walnut doors, attended by a uniformed doorman; a sleekly styled lobby featuring walnut wood and brushed brass; as well as a 7,500-square-foot indoor/outdoor lounge and club floor boasting oversized artwork, a café complete with built-in appliances (including a gelato machine), a 40-seat conference space and The Ivy Terrace, an inviting outdoor space reminiscent of a 1930’s era garden party.
“10 Grand Central has more terraces than floors,” added Deitelzweig. “The Ivy Terrace is only one of 44 terraces. Our repositioning strategy brought back multiple outdoor terraces that were once unused and undervalued and are now a key amenity for many in the building’s remarkable tenant roster.”
The latest amenity offering at 10 Grand Central is the Marx Mobile, a branded state-of-the-art luxury electric Porsche Taycan that will serve as the building’s house car. Marx Mobile is accessible to all the building’s tenants through the company’s proprietary MarxConnect software and will transport tenants as they traverse Manhattan — east/west from the East River to 8th Avenue and north/south from Central Park to Union Square.
10 Grand Central has signed over 50,000 square feet of office and ground floor retail space so far in 2022; the building’s notable roster of tenants includes bank holding company Merchants Bancorp; real estate investment and management company Strata Equity Group; conference organizer for health innovation HLTH; golf investing and tour organizing company LIV Golf Inc.; weekly online news magazine The Week; real estate investment firm Benenson Capital Partners; and Goldman Sachs-backed Crux Informatics. 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.
The redesign was led by David Burns, principal of Studios Architecture. JLL’s Mitchell Konsker, Benjamin Bass, Kip Orban, Carlee Palmer, and Thomas Schwartz are leading a team handling the leasing for Marx Realty. The building’s asking rents range between $65 and $120 per square foot.