Two significant transactions have taken place at 10 Grand Central, a notable 35-story office tower managed by Marx Realty in Midtown. Investment advisory firm Family Management Corporation has negotiated a major office expansion, while law firm Weidenbaum & Harari has opted to renew its existing lease.

Family Management Corporation’s Expansion

Family Management Corporation has signed a seven-year lease that more than doubles its leased space from 4,800 square feet to an impressive 11,000 square feet. This expansion is part of the firm’s strategy to accommodate its growing operations after initially moving to the property in 2022 under a five-year lease.

Weidenbaum & Harari’s Lease Renewal

In conjunction with the expansion, Weidenbaum & Harari, specialists in real estate and construction law, renewed their lease for 8,000 square feet for another seven years. The timeline for the firm’s initial move into the building remains unspecified.

Market Trends and Office Space Developments

According to Craig Deitelzweig, CEO of Marx Realty, “The recent renewal and expansion were driven by our best-in-market, premier amenity offering which redefined the workplace experience before the market knew it needed to be rethought.”

The asking rents at 10 Grand Central oscillate between $82 and $140 per square foot, although specific figures for these deals were not disclosed.

Brokerage Teams Involved

The transactions were facilitated by a team from JLL, consisting of Mitchell Konsker, Carlee Palmer, Thomas Swartz, and Nicole Danyi, who represented the landlord. On the other hand, Robert Silver from Newmark represented Family Management, while Douglas Levine from the same firm handled negotiations for Weidenbaum & Harari.

Amenities Enhancing Tenant Experience

The recent activity follows the completion of a new 11,000-square-foot amenity space at the property, named the Meeting Galleries. Opened in November, this space includes four reservable venues for meetings and events, along with unique features such as a podcast studio, a cocktail bar, and a mini movie theater. These amenities have reportedly been met with enthusiasm from both existing tenants and prospective ones.

“We began taking reservations for the Meeting Galleries spaces well before construction was complete and consistently receive enthusiastic feedback from existing and potential tenants as well as brokers touring the building,” Deitelzweig stated.

Additional Tenants and Community

Other notable tenants in the building include TMF Group, a provider of administrative services; The Completed Life Initiative, a nonprofit organization; and Teladoc Health, an online healthcare resource.