Marx Realty (MNPP), a New York-based owner, developer and manager of office, retail and multifamily property across the United States, announced Teladoc Health has signed a long-term, 7,000-square-foot lease at 10 Grand Central’s 16^th floor.

“We are delighted to have Teladoc join the prestigious and diverse tenant roster at 10 Grand Central,” said Craig Deitelzweig, president and CEO of Marx Realty. “As one of Midtown Manhattan’s most compelling post-pandemic office destinations, this iconic building continues to attract top-tier companies. The recent influx of tenants is a testament to the success of our one-of-a-kind hospitality-infused repositioning strategy, which has resonated with the most innovative and exciting organizations.”

Teladoc Health was represented by Kevin Duffy and Sean Lynch of JLL. Asking rent was of $82 per square foot.

Following a $48 million repositioning in 2019, the Ely Jacques-Kahn-designed office tower now features a stunning new façade with marquee brass fins and oversized walnut doors, attended by a uniformed doorman. The lobby is sleekly styled with walnut wood and brushed brass, while the indoor/outdoor lounge and club floor spans 7,500 square feet and boasts oversized artwork, a café equipped with built-in appliances (including a gelato machine), a 40-seat conference space, and The Ivy Terrace, an outdoor space reminiscent of a 1930s garden party. In 2022, the building unveiled the Marx Mobile, a state-of-the-art luxury electric Porsche Taycan that serves as the building’s house car. Available to all tenants through the MarxConnect software, the Marx Mobile will transport tenants around Manhattan in style.

“Teladoc was situated in the Penn Station area and seeking to plant its flag in a location that would inspire associates while providing a compelling experience, and 10 Grand Central was the clear choice to meet and exceed their needs,” added Deitelzweig. “With our MarxReady program, we were able to provide a fully furnished pre-built space, designed in collaboration with Teladoc’s team, to meet the tenant’s timeline for relocation. The modern tenant space along with the building’s beautiful amenities will help attract Teladoc’s employees back to the office.”

Marx Realty recently launched its MarxReady program offering fully furnished pre-built office spaces that are tailored to meet the needs of today’s tenants. The team provides move-in ready spaces that also maintain the building’s overall hospitality-based design approach and supports tenants’ brands.

Teladoc Health’s lease comes just weeks after law firm Lewis Baach (relocating from the Chrysler Building) and glass wall interior firm MetroWall signed long-term leases at the building. 10 Grand Central has signed over 80,000 square feet of office and ground floor retail space in the last year; the building’s notable roster of tenants includes bank holding company Merchants Bancorp; real estate investment and management company Strata Equity Group; conference organizer for health innovation HLTH; golf investing and tour organizing company LIV Golf Inc.; weekly online news magazine The Week; real estate investment firm Benenson Capital Partners; Goldman Sachs-backed Crux Informatics; global asset manager Fin Capital; global independent fund manager DIF Capital Partners; and venture capital firm Colibri Equity Ventures. 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 redesign was led by David Burns, principal of Studios Architecture. JLL’s Mitchell Konsker, Kyle Young, Simon Landmann, Carlee Palmer, and Thomas Schwartz are leading a team handling the leasing for Marx Realty. The building’s asking rents range between $68 and $120 per square foot.

View the Full Article