Marx Realty (MNPP), a New York-based owner, developer and manager of office, retail and multifamily property across the United States, announced that LeafHome has signed a long-term lease for 10,000 square feet at 10 Grand Central in Manhattan. The well-appointed 15th floor space is the first New York City office for the Ohio-based developer of the award-winning LeafFilter gutter protection technology and will serve as the headquarters for its marketing operations.
“We have seen more activity in terms of leasing and tours than any other office property in the Grand Central neighborhood,” said Craig Deitelzweig, president and CEO of Marx Realty. “The leasing velocity around 10 Grand Central has remained steady during the current office cycle due to the highly differentiated product offering here and across our portfolio. Marx Realty pioneered the hospitality aesthetic in the office sector and our attention to detail, combined with our hands-on management has raised the bar for tenants seeking special and distinctive workspaces. Now, more than ever, it’s extremely important to provide tenants an inspired workplace experience and the outstanding top-to-bottom sensory journey at 10 Grand Central is unrivaled in today’s market.”
The 15th floor space, like the building itself, has a sensibility similar to the world’s finest hotels and creates a welcoming workplace experience. The space represents the latest installment in the MarxReady program which gives tenants beautiful pre-built office suites including furnished conference areas and a well-appointed café with built-in appliances and marble countertops to create a welcoming space for day-to-day use and in-person meetings. The oversized café island is a focal point of the space while eye-catching tile accents in the café, sophisticated wallcoverings and dramatic lighting fixtures throughout create a perfect hospitality-like package. Thanks to the architectural setbacks at the building, this space also includes four private outdoor terraces, a key driver in LeafHome’s decision to plant its New York flag at 10 Grand Central.
Beyond their office walls, tenants have been drawn to the remarkable hospitality-infused sensibility at 10 Grand Central since Marx launched the concept. The façade, with its soaring marquee, striking brass fins and oversized walnut doors, is attended by a uniformed doorman. Walnut wood and brushed brass accents grace the lobby with a statement-making custom brass concierge desk and polished herringbone concrete floors. The 7,500-square-foot indoor/outdoor lounge and club floor has a members-only club-like vibe with oversized artwork and plush seating, a café complete with built-in appliances (including a gelato machine), and a 40-seat conference space.
The lounge space opens to one of the most notable outdoor amenities in New York – the Ivy Terrace. Reminiscent of a 1930’s-era garden party, the Ivy Terrace is an outdoor oasis with table seating, lush landscaping and French bistro-inspiring awnings that provide shade with style. The terrace is often bustling with tenants and guests working or socializing while media firms at 10 Grand Central have been known to use the space as a backdrop for content production.
10 Grand Central also offers tenants an upscale house car for transportation around Manhattan. The Marx Mobile is a branded state-of-the-art luxury electric Porsche Taycan and serves as an on-demand rideshare option available to all the building’s tenants through the company’s proprietary MarxConnect software.
“10 Grand Central continues to be one of the most active and sought after buildings in the market,” said Konsker of JLL. “Tenants really gravitate towards the type of hospitality-rich spaces and unique service elements that the Marx team has created. The Marx Mobile [the building’s house car] is especially attractive as a true differentiator in today’s market.”
The asking rent was $92 per square foot and LeafHome was represented by Maxwell Tarter of CBRE. Marx Realty was represented by JLL’s Mitchell Konsker, Kyle Young, Carlee Palmer, Simon Landman and Thomas Swartz. Asking rents at 10 Grand Central range between $68 and $120 per square foot.
Marx Realty has signed over 90,000 square feet of office and ground floor retail space at 10 Grand Central in the last 12 months. Notable tenants include bank holding company Merchants Bancorp; tour organizing company LIV Golf Inc.; weekly online news magazine The Week; real estate investment firm Benenson Capital Partners and popular lunch destinations, Cava, Little Collins and Sweetgreen in the street-level retail space. 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 distinctive club-like ambiance at 10 Grand Central, from the entry through to the beautiful office spaces and sophisticated club floor, has proven attractive to a variety of high-profile tenants,” said Deitelzweig. “. The hospitality-inspired experience definitively sets us apart from struggling commodity buildings throughout New York.”
The redesign was led by David Burns, principal of Studios Architecture.