The property asset involved in this transaction is an office space located at 10 Grand Central in Manhattan. The property encompasses a total of 18,000 square feet and was leased at an asking rent of approximately $94 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $94/ft
• Address: 10 Grand Central
• Market: Manhattan
• Landlord: Craig Deitelzweig - Marx Realty
• Tenant: Merchants Bancorp
• Landlord's Representative: Mitchell Konsker, Thomas Schwartz, Carlee Palmer & Nicole Danyi - JLL
• Tenant's Representative: Christopher Foerch - Savills
• Square Footage: 18,000 SF
• Asking Rent: $94/SF

Merchants Bancorp significantly increased its occupied space at 10 Grand Central, expanding from a previous capacity of 8,700 square feet. This expansion is formalized under a 10-year lease agreement.