Key Takeaways
- • Brenton Point Capital Partners, a private equity firm, will relocate from 900 Third Avenue to 9,000 square feet on the 24th floor of Marx Realty's 10 Grand Central at an asking rent of $108 per square foot.
- • CornerStone, an AI-powered human capital management firm, will take 5,000 square feet on the second floor at 10 Grand Central at an asking rent of $85 per square foot, moving from 11 West 42nd Street.
- • The two deals total 14,000 square feet, according to Marx Realty's Thursday announcement.
- • CBRE represented both tenants, while JLL represented Marx Realty in both transactions.
- • Lease terms, including length, were not disclosed, and the brokers and tenants did not respond to Commercial Observer's requests for comment.
Summary
Marx Realty has signed two new office leases at its 10 Grand Central property totaling 14,000 square feet, the company announced Thursday. The largest transaction involves private equity firm Brenton Point Capital Partners, which will relocate from 900 Third Avenue to occupy 9,000 square feet on the building's 24th floor at an asking rent of $108 per square foot, according to Marx.
The second deal involves CornerStone, an artificial intelligence-powered human capital management firm currently based at 11 West 42nd Street. CornerStone will lease 5,000 square feet on the second floor at an asking rent of $85 per square foot, Marx said.
Marx Realty CEO Craig Deitelzweig characterized the leases as reflecting the caliber of companies choosing 10 Grand Central. "Brenton Point and Cornerstone will each benefit from an environment that brings together thoughtful design, highly personalized service and an extensive collection of hospitality-inspired amenities," he said in a statement.
CBRE's Josh Pernice and Frederick Fackelmayer represented CornerStone, while CBRE's Owen Reda and Gary Davies represented Brenton Point. JLL's Mitchell Konsker, Thomas Schwartz, Carlee Palmer and Margaux Kelleher represented Marx Realty in both deals, according to Commercial Observer.
The 35-story building next to Grand Central Terminal positions itself with a hotel-like approach to office space, offering concierge services and amenities that Marx describes as comparable to a five-star resort. Existing tenants include global data intelligence firm Curinos, bank holding company Merchants Bancorp and national business advisory firm Riveron. The length of each lease was not disclosed.
The second deal involves CornerStone, an artificial intelligence-powered human capital management firm currently based at 11 West 42nd Street. CornerStone will lease 5,000 square feet on the second floor at an asking rent of $85 per square foot, Marx said.
Marx Realty CEO Craig Deitelzweig characterized the leases as reflecting the caliber of companies choosing 10 Grand Central. "Brenton Point and Cornerstone will each benefit from an environment that brings together thoughtful design, highly personalized service and an extensive collection of hospitality-inspired amenities," he said in a statement.
CBRE's Josh Pernice and Frederick Fackelmayer represented CornerStone, while CBRE's Owen Reda and Gary Davies represented Brenton Point. JLL's Mitchell Konsker, Thomas Schwartz, Carlee Palmer and Margaux Kelleher represented Marx Realty in both deals, according to Commercial Observer.
The 35-story building next to Grand Central Terminal positions itself with a hotel-like approach to office space, offering concierge services and amenities that Marx describes as comparable to a five-star resort. Existing tenants include global data intelligence firm Curinos, bank holding company Merchants Bancorp and national business advisory firm Riveron. The length of each lease was not disclosed.
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