Merchants Bancorp Expands Office Space At 10 Grand Central With Landlord Craig Deitelzweig

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.