10 Grand Central Welcomes New Tenant – The Week

| Commercial Real Estate News, Deals, Leasing, Office| Views: 0

Marx Realty announced in a recent press release that media company The Week Publication has leased 12,000 square feet of office space at 10 Grand Central in Midtown Manhattan.

Completed in 1931, 10 Grand Central is a 35-story building that already houses several United Nations-affiliated offices and a myriad of other prestigious tenants. Previously known as the Commerce Building at 708 Third Avenue, the Ely Jacques Khan-designed tower is nearing completion of its $45 million overhaul. The renovation will have the lobby redesigned and permanently relocated from Third Avenue to East 44th Street, and will include the creation of state-of-the-art, hospitality-styled amenity spaces, along with a new 5,000-square-foot lounge.

Owner Marx Realty is also creating 10 pre-built office suites ranging in size from 2,500 to 8,000 square feet. Select suites will also offer access to private terraces.

10 Grand Central, New York City

10 Grand Central, New York City, NY (Yardi Matrix)

“Marx Realty has collaborated with a world-renowned team of designers and architects to bring these remarkable upgrades to life at 10 Grand Central,” adds Craig Deitelzweig, President and CEO of Marx Realty. “We are proud to see that both current and incoming tenants are very enthusiastic about these enormously powerful changes. After all, office tenants view their workspace as an extension of their brand.”

The move will relocate the U.S. division of the U.K.-based news magazine from its current headquarters at 55 West 39th Street for the coming 10 years, as they occupy the entire built-to-suit 22nd floor.

Clyde Reetz of CBRE represented The Week Magazine in the lease transaction. Leasing efforts on behalf of Marx Realty are led by JLL’s Howard Hersch, Sam Seiler and Cynthia Wasserberger.

More information on the project can be accessed here http://10grandcentral.com/

Owner Marx Realty property page http://marxrealty.com/portfolio/155-east-44th-street/

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