Green Street Signs New Long-Term Lease at Marx Realty's 10 Grand Central

Real estate research firm Green Street Advisors is opening its first New York City office at 10 Grand Central, landlord Marx Realty announced this week. The asking rent was $67 per square foot.

The new place: Green Street Advisors has signed a long-term lease for 5,000 square feet in the Midtown building, which is located around the corner from Grand Central Terminal. Green Street will be located on the second floor of the office tower. 

Who and where: The Newport Beach, California-based Green Street currently has offices in London and New Jersey, and analyzes more than 130 real estate investment trusts. The company's move to New York City underscores the city's importance as a global financial center.

The aesthetics: Marx Realty completed an overhaul of the lobby and Art Deco-inspired façade on the lower levels of 10 Grand Central in 2019. Office suites on floors 32 through 36 were also transformed with features such as an outdoor terrace and solarium.

The team behind this lease: Ian Lipman of JLL represented Green Street Advisors, while Marx Realty was represented by Mitchell Konsker, Kyle Young, Carlee Palmer, Simon Landman, and Thomas Swartz, also from JLL. 

The neighbors: Marx Realty has leased over 100,000 sf in the building in the last year. Other tenants at 10 Grand Central include bank holding company Merchants Bancorp, tour organizer LIV Golf, weekly news magazine The Week, and real estate investment firm Benenson Capital Partners.