Marx Realty leases 5,800 s/f to Rubric Capital at 10 Grand Central
May 05, 2020
Manhattan, NY According to Craig Deitelzweig, president and CEO of Marx Realty (MNPP), Rubric Capital signed a 5,800 s/f, seven-year lease on the 16th floor at 10 Grand Central. Rubric Capital secured the last of the Marx Realty’s pre-built suites at 10 Grand Central as the firm begins to attract companies to fill its Penthouse Collection being built out on the 32nd-36th floors.
“We are thrilled to welcome Rubric Capital to 10 Grand Central,” said Deitelzweig. “This hedge fund joins a truly remarkable roster of tenants that includes well-known firms representing industries ranging from media and technology to financial and business service entities. The repositioning continues to draw high-profile tenants attracted to 10 Grand Central’s first-of-its-kind hospitality-infused aesthetic.”
Marx Realty has signed 184,000 s/f of new leases since announcing the building’s repositioning in mid-2018. Since the announcement, occupancy has increased from 78% to 95%. The $48 million repositioning of the 36-story Ely Jacques-Kahn designed 1930’s office tower included a redesigned four-story entry portal, marquee, lobby, lounge, outdoor terrace, and expansive conference space.
The new façade’s marquee feature brass fins and oversized walnut doors, which are attended by uniformed doormen. The lobby’s walnut wood, brushed brass, and polished concrete accents evoke a luxury hotel vibe that continues throughout a suite of hospitality-styled amenities on the seventh floor. The lounge boasts oversized artwork and a café complete with built-in appliances as well as furnishings fashioned in “Grand Central Green,” in a nod to the building’s proximity to Grand Central Station. In addition, the lounge also includes a 40-seat conference facility and opens to the Ivy Terrace, an inviting outdoor space reminiscent of a 1930s era garden party.
Cynthia Wasserberger, Sam Seiler, David Kleiner, and Carlee Palmer are leading the team handling the leasing for Marx Realty. Rubric Capital was represented by Cushman & Wakefield. The asking rent for the space was $88 per square foot.
Rubric Capital joins tenants including Dwayne “The Rock” Johnson’s production company, Seven Bucks Productions (as reported by the NYPost.com); UK-based sports private equity firm 23 Capital; asset management firm Everside Capital Partners; educational technology company Decoded; weekly news magazine The Week & Dennis Publishing, communications consultant Montieth & Company; investment firm Benenson Capital Partners; and advertising association powerhouse ANA.
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