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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.
Vialto Group More Than Doubles Office Space at 545 Madison
October 16, 2025
Marx Realty said private equity firm Vialto Group has signed on for an additional 10,000 square feet of space at 545 Madison, expanding its presence in the building to 17,500 square feet. The firm’s space commitment now spans two floors at the Plaza District office building. The building became known as the Baccarat Building after Marx Realty forged a co-branding partnership with Baccarat.
“The hotel-like sensibility, combined with our commitment to creating beautiful spaces, in this case in partnership with Baccarat, continues to attract high-profile tenants seeking a top-to-bottom sensory experience,” said Craig Deitelzweig, president and CEO of Marx Realty. “As is typical across our portfolio in New York and DC, existing tenants almost always choose to grow in place at Marx properties, and we’re thrilled to see Vialto more than doubling its footprint at 545 Madison.”
A Cushman & Wakefield team led by Tara Stacom represented Marx Realty while David Dusek, also of Cushman & Wakefield represented Vialto Group
Private Equity Firm Vialto Group Expands to 17,500 SF at 545 Madison Avenue
October 15, 2025
Private equity firm Vialto Group has signed up for an additional 10,000 square feet at Marx Realty’s 545 Madison Avenue office tower, bringing the firm’s total footprint to 17,500 square feet across two full floors, Marx announced.
Asking rent for the new 10,000-square-foot space was $95 per square foot, according to Marx. The asking rent for office space in the 17-story tower ranges between $95 and $165 per square foot. Vialto Group moved into 545 Madison in 2022.
Tara Stacomof Cushman & Wakefield represented Marx Realty in this deal, while C&W’s David Dusek represented Vialto Group. C&W did not immediately respond to a request for comment on this deal.
“As is typical across our portfolio in New York and D.C., existing tenants almost always choose to grow in place at Marx properties, and we’re thrilled to see Vialto more than doubling its footprint at 545 Madison,” Craig Deitelzweig, president and CEO of Marx Realty, said in a statement announcing the expansion. “The hospitality-infused, club-like aesthetic we pioneered is just that special.”
545 Madison Avenue is also known as the Baccarat Building, thanks to a co-branding partnership between the lifestyle house Baccarat and Marx Realty. Other corporate tenants at the building include Marx Realty, private investment firmBellTower Partners, and financial software and applications developer GTS.
Vialto Group more than doubles footprint at 545 Madison Ave.
Vialto Group’s Midtown office now spans two floors at 545 Madison Ave.
Peter Murdock
By Julian Nazar – Staff Reporter, New York Business Journal
October 15, 2025
Vialto Group more than doubles footprint at 545 Madison Ave.
Vialto Group’s Midtown office now spans two floors at 545 Madison Ave.
Peter Murdock
By Julian Nazar – Staff Reporter, New York Business Journal
Vialto Group has more than doubled its office footprint at Manhattan office tower 545 Madison Ave.
The private equity firm, which occupies 7,500 square feet on the 14th floor, is adding a 10,000-square-foot space on the second floor. This brings Vialto’s total footprint to 17,500 square feet across two full floors of the 18-story, 140,000-square-foot building.
The lease renewal is for 10 years. Asking rent for the second-floor space was $95 per square foot. Asking rents in the building range from $95 to $165 per square foot.
A Cushman & Wakefield team led by Tara Stacom represented Marx Realty on the deal. The firm’s David Dusek represented Vialto Group.
“The hotel-like sensibility, combined with our commitment to creating beautiful spaces, in this case in partnership with Baccarat, continues to attract high-profile tenants seeking a top-to-bottom sensory experience,” said Craig Deitelzweig, president and CEO of Marx Realty, in a statement.
Now called the “Baccarat Building,” 545 Madison Ave. is home to tenants such as French luxury crystal line Baccarat, health care investment platform Consonance Capital and private investment firm Orangewod Partners. The property is 90% leased.
Institutional investors still avoid broad bets on the sector, but painstakingly selected niches are doing well
Marx Realty’s 35-story building at 10 Grand Central is nearly full. Craig Deitelzweig, Marx’s CEO, did a multi-million-dollar renovation, adding hotel-like amenities to the drab office that used to go by 708 Third Avenue. Tenant demand is now so furious Deitelzweig raised rents four times in the past year.
“It’s one of the strongest office markets that we’ve seen in a decade,” he said.
Not all New York City office dealmakers will make a claim like that, but most will acknowledge the comeback in a sector that descended into the edges of hell during Covid only to remain in purgatory for years.
Earlier this year, New York City recorded the lowest office vacancy rate of any major city, according to Moody’s. Foot traffic has exceeded pre-pandemic numbers, Placer.ai data shows. And new leasing in Midtown rose to 5.3 million square feet in the second quarter, its highest mark since 2019, according to a report from Cushman & Wakefield.
News from the leasing market has spurred big-ticket deals. RXR’s recent purchase of 590 Madison Avenue, a 1 million-square-foot tower formerly home to IBM, was the first sale of over $1 billion since 2022.
“590 Madison was finally the culmination of all the trends that we were seeing and the conversations we’ve been having that the market was finally ready to get a billion-dollar-plus single asset sale done,” said Gary Phillips, managing director of Eastdil Secured, who brokered the deal.
Another sign of a comeback: Blackstone is looking at the sector. When Jon Gray and the trillion-dollar Blackstone operation put their money into something, others follow. In June, the firm made one of its first moves into office since Covid, acquiring a large stake in Fisher Brothers’ 1345 Sixth Avenue. It also bid on 590 Madison and on Paramount Group, the New York City and San Francisco office landlord with 13 million square feet of Class A office space that reached a deal to sell to Rithm Capital in September.
Meanwhile, Related Companies might build a new office at 625 Madison Avenue, where it had planned a 1,220-foot, 68-story supertall with residential, hotel and retail. The pivot would be to an “AA-class office tower.”
Padding the environment, the Federal Reserve finally lowered the federal funds rate in September, while suggesting future rate cuts. CBRE already expects an uptick in deals.
But the scope of the office comeback is unclear. Institutional investors are still not making broad bets on office, but are surgically picking spots in sub-markets within a sub-market. At the same time, an untold amount of distress is playing out behind the scenes with lenders.
“I’d say it’s early days of a recovery in office,” said Spencer Garfield, co-head of CRE credit at Fortress Investment Group. “But that recovery is underway, and there’s still pain to be had, because there are still over-levered properties, and there are still poorly run properties and undercapitalized sponsors.”
Return journey
New York City’s office comeback story started with leasing.
With new construction virtually stopped and the trophy towers of One Vanderbilt, Hudson Yards and Manhattan West filled up, companies searching for space looked elsewhere.
They first turned to Park Avenue because of its close proximity to Grand Central, which seemed more convenient than ever for employees returning to the office, especially from the Northern suburbs. With its historic reputation as the premier office address, vacancy rates for Park Avenue declined to less than 10 percent in 2024, far below the city’s average, according to CoStar.
Park Avenue building owners opted to spend tens of millions on amenities and upgrades.
Aby Rosen’s RFR Holdings put about $30 million into the Seagram Building, considered the Rolls-Royce of buildings when it was built in the late ’50s. It’s now fully occupied, averaging leases in the mid-$200s per square foot. Some tenants at Seagram are making forward commitments for 2027 and 2028, son Gaby Rosen noted, because of concerns about finding space in the area.
“Even though the overall market availability rate is still relatively very high, there is a lack of supply of big block space,” Gaby Rosen of RFR said. “And there happen to be 30 to 40 tenants right now in the market looking for big block space in and around Grand Central and Midtown East.”
Such tenants scour Midtown for buildings with their desired amenities, including modern lobbies, high ceilings and spacious conference rooms. Options have been limited. Amazon, which needed to find a place for its 350,000 corporate employees returning to the office, inked a 330,000-square-foot lease at Property & Building Corp’s 10 Bryant Park, a 1980s office tower with extensive upgrades. It also enlisted WeWork to lease even more space on its behalf.
“There happen to be 30 to 40 tenants right now in the market looking for big block space in and around Grand Central and Midtown East,” said Aby Rosen of RFR.
Yet institutional investors remained on the sidelines. No one wanted to be the first mover, and other business lines, such as private credit, offered returns of over 15 percent, too lucrative for investment giants to pass up.
