Andrew Werner accepts the Architecture Team of the Year Award for KPF. PHOTO: Greg Morris
Downtown’s splashiest new retail destination and one of the nation’s top real estate financiers scored multiple awards at Commercial Observer’s third annual Breakthrough Awards breakfast, held Tuesday at 7 World TradeCenter.
One Wall Street, a tower in Manhattan’s Financial District, came away with two Tech & Innovation awards in the Residential and Retail categories. The office-to-residential project was also nominated for Adaptive Reuse Project of the Year, Retail Transaction of the Year and Marketing Team of the Year.
But One Wall’s crown jewel is its historic ruby-colored Red Room at the base of the 654-foot skyscraper, which welcomed the first American branch of the famed Parisian department store Printemps. The French luxury retailer has attracted throngs of chic shoppers and influencers since opening its doors in March while offering perks to building residents such as invitations to private events, VIP previews and private shopping experiences.
Brian Lichter accepts the Law Firm of the Year award for Davis Polk & Wardwell.
PHOTO: Greg Morris
“I think I speak on behalf of everyone here when I say we’d all like to get on that short list of VIPs able to cut the line,” said Marc Norman, associate dean of the Schack Institute of Real Estate at New York University and emcee for the event.
One Wall Street, which received its Innovation In Retail award with Printemps and Newmark, beat out Kushner’s $500 million redevelopment of Monmouth Mall, and Blackstone and RXR’s retail concepts inside the Starrett Lehigh Building. The company split the Innovation In Residential category with Domain Companies, which developed 420 Carroll Street, the first building that opened after the 2021 Gowanus, Brooklyn, rezoning.
Not to be outdone, Blackstone Real Estate Partners tallied four awards in the five categories in which they were nominated, earning the coveted Financier of the Year (Non-Bank) award, as well as the year’s top Office, Retail and Industrial transactions.
The investment firm’s real estate branch, which has $77 billion in assets under management and celebrated the close of its most recent real estate debt fund with $8 billion of capital commitments, also financed several winners in this year’s Innovation categories.
Blackstone’s $1.4 billion acquisition of a 46 percent joint-control interest with Fisher Brothers in 1345 Avenue of the Americas picked up the Office Transaction of the Year in a competitive category that also included RXR and Elliott Investment’s $1.1 billion expansion of 590 Madison Avenue, New York University’s 70-year master lease of a Vornado building at 770 Broadway, Amazon’s lease expansion at L&L Holding’sWynwood Plaza, Rosenberg & Estis’ restructuring of a credit facility for the Durst Organization, and Nuveen and JLL Capital Markets’ sale of 701 Brickell in Miami. Fried Frank, Blackstone’s counsel on the 1345 Avenue of the Americas deal, and Morgan Stanley, J.P. Morgan Chase and Citibank, which facilitated $850 million in CMBS refinancing in the deal, were also recognized.
Blackstone’s $4 billion acquisition of Retail Opportunity Investment Corporation, whose portfolio consists of 93 shopping center properties with grocery anchors in major West Coast cities, picked up the retail award. The firm was also nominated with RXR in the Innovation in Retail category for its work opening The Yacht Club and Level 10 within the 10th floor of the Starrett Lehigh Building.
Finally, Blackstone Mortgage Trust — whose $189 million loan to Alterra IOS, with an assist from Cooper Horowitz, secured a 49-property portfolio across 22 states — was recognized as Industrial Transaction of the Year. The firm was also nominated in the industrial category for its acquisition of a 95 percent stake in Crow Holdings’ $718 million portfolio of 25 buildings.
Mauricio Amal Prieto accepts the Top Financier of the Year award for Wells Fargo. PHOTO: Greg Morris
Plenty of other boldface winners shared the spotlight among the Team & Leadership categories.
Wells Fargo fended off J.P. Morgan’s Commercial Real Estate Lending Solutions, Bank of America, Bank OZK and Centennial Bank to earn Top Financier of the Year (Banks) on the strength of its $3.5 billion refinancing of Rockefeller Center as well as $15.4 billion in balance sheet originations and $28 billion in construction loans.
But J.P. Morgan Commercial Real Estate Lending Solutions didn’t come away empty-handed, winning the Breakthrough Financier of the Year award for originating $11 billion across 14 loans in the first half of this year with a focus on large-scale construction and data center developments.
Davis Polk & Wardwelledged powerhouse competitors Fried Frank, HSF Kramer, Polsinelli, Rosenberg & Estis, and King & Spalding in the Law Firm of the Year category. The firm was responsible for helping RXR recapitalize 5 Times Square with Apollo Global Management and worked with Legion Investment Group and Gindi Capital to develop a 20-story condo near Gramercy Park.
The Architecture Team of the Year award went to KPF, the firm behind SL Green Realty’s One Madison office tower and T. Rowe Price’s new Baltimore headquarters. Gensler, HTM Architects + Engineers and ThreeStudio were also nominated.
And Silverstein Properties, which hosted the 2025 Breakthrough Awards, claimed Marketing Team of the Year, in a category that included Corcoran Sunshine, Elad Group and Douglas Elliman Development, Good Company and One Wall Street’s marketing teams. The Silverstein team’s role reimagining Lower Manhattan as a vibrant neighborhood to work and live and its efforts in securing a tenant for 2 World Trade helped win its crystal trophy.
Silverstein also scored another win in the Healthcare & Life Sciences Transaction of the Year category for its work with University Place Associates to build a 250,000-square-foot life sciences and office building on Philadelphia’s Market Street, a few blocks from the University of Pennsylvania campus. Other nominees in the category included Biogen, Alexandria Real Estate Equities, Novartis, the SPARC Kips Bay Master Plan, Cresilon, and the New York Cancer and Blood Specialist’s 10-year lease involving Avison Young, Savills and Radio Tower & Hotel.
In the Investment & Transaction Awards group, Greystone’s work arranging $525 million in construction financing for Charney Companies and Tavros’ development of a 55-story condo tower in Long Island City, Queens, received the Residential/Multifamily Transaction of the Year. Incoco Capital, Madison Realty Capital, Kushner and OneIM were also recognized for their roles financing the deal. Others nominated in this category included Aurora Capital and Corcoran Sunshine Marketing Group, HKS Real Estate Advisors, Fetner Properties, MCB Real Estate and Farallon Capital Management, the Naftali Group, Nuveen Green Capital, and JEM Private Residences.
One of the city’s most closely watched redevelopment sites, Phase One ofWillets Point in Queens, won Mixed-Use Transaction of the Year. The project, developed by Related Companies, Sterling Equities and the New York City Economic Development Corporation, is expected to deliver 880 units of affordable housing, spurring the transformation of a new northeast Queens neighborhood. Others nominated included Igloo, The Domain Companies, LMXD, Vorea Group and Bridge Investment Group, Centennial Bank, Immocorp Ventures, Property Markets Group, Ares Real Estate Fund and Monarch Alternative Capital.
Several forward-looking properties claimed victories in the Project and Development categories.
Lone Star PACE, Nuveen Green Capital and VivaVerse Solutions won the Sustainability Project of the Year award for its 2.3 million-square-foot technology hub with a 74,000-square-foot data center called ViVa Center in Tomball, Texas. Other sustainable projects recognized included Needham Ranch in Santa Clarita, Calif., HSBC’s New York headquarters, Greenpoint Central in Brooklyn, and 570 Lexington Avenue.
L&L Holding Company, Columbia Property Trust and Cannon Hill Capital Partners’ restoration of West Chelsea’s Terminal Warehouse, the former home of Tunnel nightclub, was recognized as Adaptive Reuse Project of the Year. The other adaptive reuse projects in contention included SoMA at 25 Water Street, 214 East Hallandale Beach Boulevard in Hallandale Beach, Fla., Terminal Warehouse, One Wall Street and 1701 Market Street Philadelphia.
RXR’s transformation of a defunct White Plains, N.Y., mall into Hamilton Green, a model of transit-oriented suburban redevelopment, won Design and Development Project of the Year. Other nominated designs included 420 Carroll in Brooklyn, 1428 Brickell in Miami, Greenpoint Central, and 72 Park by Lefferts in Miami Beach.
Madison Realty Capital also took home the Public-Private Partnership of the Year Award for its Greenpoint Central residential complex on a former brownfield and Superfund site on DuPont Street in Brooklyn. Other public-private partnerships in the running included Samuel Madden Homes in Alexandria, Va., The Peninsula in New York, Hibiscus Grove in Fort Lauderdale, and NoMi Square in North Miami.
Finally, in the Tech & Innovation group, Marx Realty’s co-branding partnership with Baccarat, a luxury French brand, at 545 Madison Avenue and its new 11,000-square-foot amenity floor at 10 Grand Central helped secure a win in the Innovation in Office category. Other nominees included Alchemy-ABR Investment Partners and Cain International, Nuveen and Industrious, Spectorgroup and Ted Moudis.
Dara McQuillan accepts the Marketing Team of the Year award for Silverstein Properties. PHOTO: Greg Morris
Basis Industrial and BaySpace claimed the Innovation in Industrial award for its repositioning of a 133,000-square-foot flex industrial property in Deerfield Beach, Fla. Other contenders for the award included STAG Industrial, PredictAI and Link Logistics.
And proptech start-up DialdAI won Tech Advance of the Year for its launch of Diald Memo, an AI-written investment tool that includes property analysis from 1.7 million quantitative and qualitative data sources, and a new partnership with Moody’s. Other tech companies recognized in the category included Keyway, Trepp, Altus Group, Measurabl, Colliers’ Portfolio AI and Kinexio.
On Tuesday, the day of the awards, the company launched Diald 5.0, what it describes as its strongest AI tool ever.
“Our dream is to finally let industry leaders do site analysis without three overpriced subscriptions, two site visits and a small prayer,” one executive said while accepting the award.
Marx Realty secured two significant tenant expansions totaling 24,000 square feet at 10 Grand Central. The two deals represent an ongoing restack effort at the Midtown Manhattan tower.
Bank holding company Merchants Bancorp will expand from its 8,700-square-foot space on the 24th floor to an 18,000-square-foot space on the 14th floor. Global professional services firm TMF Group finalized a new lease to move from 3,000 square feet on the ninth floor to a 6,000-square-foot space on the 34th floor.
“We remain committed to continuously elevating the tenant experience and are steadfast in our goal to create a workplace experience that inspires people every day,” said Craig Deitelzweig, CEO of Marx Realty. “These expansions illustrate the success of our vision.”
Merchants Bancorp was represented by Chris Foerch of Savills, while Jason Roberts of JLL represented TMF Group. A JLL team of Mitchell Konsker, Thomas Schwartz, Carlee Palmer and Nicole Danyi represented Marx Realty in both leases.
Two tenants doubled their footprints this week at Marx Realty’s 10 Grand Central.
Marx Realty has landed two expansions totaling 24K SF at 10 Grand Central. In the first, Merchants Bancorp is doubling its footprint, moving from 9K SF on the 24th floor to 18K SF on the 14th floor. TMF Group is also growing from 3K SF on the ninth floor to 6K SF on the 34th floor. Asking rents were $94 per SF for Merchants’ space and $120 per SF for TMF’s. Savills’ Chris Foerch repped Merchants, JLL’s Jason Roberts repped TMF, and JLL’s Mitchell Konsker, Thomas Schwartz, Carlee Palmer and Nicole Danyi repped Marx Realty.
Marx Realty Signs 24K SF in Restack as Merchants Bancorp, TMF Group Double Footprints at 10 Grand Central
November 3, 2025
November 3, 2025
Significant Expansions Underscore Robust Demand at Marx Realty’s Repositioned Midtown Tower in Grand Central Neighborhood
Marx Realty (MNPP), a New York-based owner, developer and manager of office, retail, and multifamily property across the United States, today announced two significant tenant expansions totaling 24,000 square feet at 10 Grand Central. The two deals represent an ongoing restack effort and highlight the robust leasing momentum at the hospitality-infused tower.
Bank holding company Merchants Bancorp will expand from its 8,700-square-foot space on the 24th floor to an 18,000-square-foot space on the 14th floor at an asking rent of $94 per square foot. Global professional services firm TMF Group finalized a new lease to move from 3,000 square feet on the 9th floor to a 6,000-square-foot space on the 34th floor at an asking rent of $120 per square foot. Both companies are doubling their footprints, reflecting tenants’ long-term commitment to 10 Grand Central and its blend of sophisticated design and authentic hospitality-like glamour.
“We are thrilled to see our tenants continue to grow within 10 Grand Central’s ecosystem,” said Craig Deitelzweig, CEO of Marx Realty. “We remain committed to continuously elevating the tenant experience and are steadfast in our goal to create a workplace experience that inspires people every day. These expansions illustrate the success of our vision.”
The TMF Group and Merchants Bancorp expansions mark the final phase of a sweeping restack at 10 Grand Central, which has included recent moves and expansions by Green Street, 1-800-Flowers, Marx Realty’s own headquarters, and Hayfin Capital Management. Collectively, these transactions underscore the strong demand among tenants to expand and remain within the building’s unique hospitality-driven environment.
Merchants Bancorp was represented by Chris Foerch of Savills while Jason Roberts of JLL represented TMF Group. A JLL team of Mitchell Konsker, Thomas Schwartz, Carlee Palmer, and Nicole Danyi represented Marx Realty on both transactions.
The recent completion of The Meeting Galleries continues to drive leasing activity at 10 Grand Central. The new 11,000-square-foot amenity comprises four reservable spaces to accommodate board meetings, corporate retreats, company gatherings, team building activities, product launches, podcast productions, and more. Tenants now enjoy a next-generation ‘town hall’ meeting lounge with seating for 200 guests (The Grand Gallery), a pre-function space (The Bar Car), a sound-attenuated podcast room (The Podcast Gallery), and a theater room (The Screening Gallery). Complemented by a 7,500-square-foot indoor/outdoor club floor, these amenities embody Marx Realty’s signature approach, blurring the lines between office and hospitality.
Green Street more than doubles New York office footprint
Green Street Advisors, a commercial real estate data and market analytics firm, has more than doubled its Manhattan office footprint at a renovated tower right across from the Grand Central Terminal transit hub.
Green Street signed a new 12,000-square-foot lease at 10 Grand Central located at 155 E. 44th St., landlord Marx Realty said in a statement. Green Street, a tenant at the building since 2023, plans to move from its 5,000-square-foot second-floor space to the 13th floor, Marx said. The asking rent was $88 per square foot.
The building, between Lexington and Third avenues, has been revamped to feature amenities such as a 7,500-square-foot indoor and outdoor lounge and club floor. Seeking to offer tenants a hotel-like aesthetic and amenities, the property also features an electric Porsche Taycan that serves as the house car.
Marx more recently also added a suite of spaces called “The Meeting Galleries” that feature a town hall space that can host up to 200 people; a screening room with stadium seating; and a podcast studio.
“The ‘flight to quality’ trend remains the defining theme of New York’s office market,” according to a CoStar analysis, adding top-tier properties near major transit hubs, especially Grand Central, are outperforming. “Leasing momentum is being fueled by a relative sense of urgency as office tenants compete for a shrinking pool of top-tier space.”
The building is 95% occupied, a Marx spokeswoman told CoStar News.
Other tenants in the building, which CoStar data shows spans 432,381 square feet, include global professional services firm TMF Group; bank holding company Merchants Bancorp; U.K.-based alternative asset management platform Hayfin Capital Management, 1-800-Flowers, Mass Mutual and Teladoc Health.
For the record
Ian Lipman of JLL represented Green Street Advisors. A JLL team of Mitchell Konsker, Thomas Schwartz, Carlee Palmer, and Nicole Danyi represented Marx Realty in the transaction.
Marx Realty announced that real estate analytics and advisory firm Green Street has doubled its footprint with a new 12,000-square-foot lease at 10 Grand Central. The firm has been a tenant at the Grand Central office building since 2023 and will move from its 5,000-square-foot second-floor offices to the 13th floor as part of an ongoing restack at the Midtown East building.
“As experts in commercial real estate, it’s no surprise that the Green Street team recognizes the value of a workplace that inspires creativity and stimulates collaboration,” said Craig Deitelzweig. “The one-of-a-kind hotel-like aesthetic at 10 Grand Central delivers an experience unlike any other and we are always excited to accommodate the growth of our existing tenants while continuing to attract new firms to the building.”
Ian Lipman of JLL represented Green Street. A JLL team of Mitchell Konsker, Thomas Schwartz, Carlee Palmer, and Nicole Danyi represented Marx Realty.
Green Street Advisors More Than Doubles Footprint at 10 Grand Central
October 23, 2025
The Meeting Galleries at 10 Grand Central (Photo courtesy of Marx Realty)
Marx Realty announced Green Street Advisors has doubled its footprint with a new 12,000-square-foot lease at 10 Grand Central. The firm, known for its comprehensive research platform and media outlets that deliver exclusive news and data on the commercial real estate and finance markets, has been a tenant at the Grand Central office building since 2023. Green Street Advisors will move from its 5,000-square-foot second-floor offices to the 13th floor.
“As experts in commercial real estate, it’s no surprise that the Green Street team recognizes the value of a workplace that inspires creativity and stimulates collaboration,” said Craig Deitelzweig, president and CEO of Marx Relty. “The one-of-a-kind hotel-like aesthetic at 10 Grand Central delivers an experience unlike any other and we are always excited to accommodate the growth of our existing tenants while continuing to attract new firms to the building.”
Ian Lipman of JLL represented Green Street Advisors. A JLL team of Mitchell Konsker, Thomas Schwartz, Carlee Palmer and Nicole Danyi represented Marx Realty in the transaction. The asking rent was $88 per square foot.
Marx Realty recently opened The Meeting Galleries – an 11,000-square-foot amenity space comprising four reservable spaces to accommodate board meetings, corporate retreats, company gatherings, product launches, team building activities, podcast productions and more – complements the 7,500-square-foot indoor/outdoor club floor added as part of the initial repositioning at 10 Grand Central in 2018. The Meeting Galleries provides a next-generation ‘town hall’ meeting lounge with seating for 200 guests (The Grand Gallery), a pre-function space (The Bar Car), a sound-attenuated podcast room (The Podcast Gallery) and a theater room (The Screening Gallery).
In a nod to nearby Grand Central Terminal, The Meeting Galleries space features a luxury train liner aesthetic harkening back to the 1930s. Finishes inspired by Guastavino tiles complement oversized murals and custom art pieces fashioned in oxidized copper. Gold-backed murals create a ‘garden party’ feel and lend an art gallery-like sensibility throughout the different spaces, each appointed with a variety of seating options. Oversized windows with soft, rounded edges mimic those found on train liners and infuse the space with natural light while private nooks with fold-down tables add timeless sophistication and contemporary functionality to the space.
10 Grand Central also offers tenants an upscale house car for transportation around Manhattan. The Marx Mobile is a branded electric Porsche Taycan which serves as an on-demand rideshare option available to all the building’s tenants through the company’s proprietary MarxConnect software.
Studios Architecture, together with Marx Realty’s in-house design team, led the redesign of the building as well as designs for the comprehensive amenity package.
An influential firm that tells real estate investors where they should put their money has elected to spend more of its own at a prewar tower in Midtown East.
Green Street Advisors has agreed to lease more space at 10 Grand Central, a 450,000 square-foot Art Deco tower. The research and consulting firm’s work is widely read by institutional investors who value its straight talk about who’s up and who’s down in the commercial real estate sector. The advisory firm is moving from 5,000 square feet on the second floor to 12,000 on the thirteenth and paying “very close” to the asking rent of $88 per square foot, according to building owner Marx Realty.
10 Grand Central was developed in 1931, and the 36-story tower was known as 708 Third Ave. until Marx repositioned it. The lobby entrance was moved to East 44th Street and is scented with Baccarat perfume. The Art Deco building also offers ample outdoor terrace spaces upstairs.
“As experts in commercial real estate, it’s no surprise that the Green Street team recognizes the value of a workplace that inspires creativity and stimulates collaboration,” Marx CEO Craig Deitelzweig said.
California-based Green Street was co-founded by a University of Chicago graduate who deemed the analysis published by Wall Street investment banks unintelligent and conflicted. The firm just celebrated its 40th birthday.
“Whether it’s forecasting, tracking deals, or providing clarity on valuations, our clients rely on us to know what’s coming next,” CEO Jeff Stuek said in a statement.
Marx Realty President and CEO Craig Deitelzweig and 10 Grand Central.PHOTOS: Courtesy Marx Realty
Ain’t it grand at Grand Central? This research firm thinks so.
Green Street Advisors has signed on for an additional 7,000 square feet at Marx Realty’s 10 Grand Central, the building owner announced.
SEE ALSO: Burger Village Inks 5K-SF Lease in Fresh Meadows, QueensThe firm, which provides research, analytics and strategic advice for the commercial real estate industry, will now occupy a total of 12,000 square feet across the building’s 13th floor for an undisclosed length of time, and an asking rent of $88 per square foot.
“As experts in commercial real estate, it’s no surprise that the Green Street team recognizes the value of a workplace that inspires creativity and stimulates collaboration,” Craig Deitelzweig, CEO of Marx Realty, said in a statement. “The one-of-a-kind, hotel-like aesthetic at 10 Grand Central delivers an experience unlike any other, and we are always excited to accommodate the growth of our existing tenants while continuing to attract new firms to the building.”
Ian Lipman from JLL represented Green Street Advisors in this lease, while Mitchell Konsker, Thomas Swartz, Carlee Palmer and Nicole Danyi — also of JLL — represented Marx Realty. JLL did not immediately respond to a request for comment.
Green Street Advisors moved into 10 Grand Central — which has undergone a massive redevelopment to give the office building a more luxury hotel-esque vibe — in 2023, taking 5,000 square feet on the second floor.
Block, parent to CashApp and Square, joins Bay Area giants opening D.C. offices
October 21, 2025
Subsidiaries of Block Inc. include payments platform Square and banking and payments app Cash App. The company has inked an office in D.C., the latest of several Silicon Valley tech giants to have done the same over the past year.
Courtesy of Cash App
By Nate Doughty – Staff Reporter, Washington Business Journal
Oct 21, 2025
Updated Oct 21, 2025 3:31pm EDT
Story Highlights
Block Inc. leases 8,000 square feet in D.C. near regulators.
Other tech giants like OpenAI and Roblox recently opened D.C. offices.
Block dropped San Francisco headquarters for distributed work model in 2022.
Block Inc., the parent company of CashApp and payments platform Square, has inked a lease in D.C., the latest example of Bay Area tech companies seeking proximity to federal regulators.
The company is set to occupy 8,000 square feet inside Marx Realty’s The Herald building at 1307 New York Ave. NW, an unnamed source familiar with the deal told Bisnow. The building sits three blocks from the White House.
Neither Block (NYSE: XYZ), Marx Realty nor Avison Young, which brokered the deal, responded to a request for comment on the lease.
It will be the publicly traded financial services company’s first presence in the nation’s capital since its launch in 2009 by co-founder and CEO Jack Dorsey, the co-founder and former CEO of Twitter Inc. It has other offices in cities such as Atlanta, New York and San Diego as well as several abroad, according to Indeed, and employs over 12,000 people.
