ICapital Leases 78,704 SF Office Space At One Grand Central Place In Midtown Manhattan

The lease transaction involves an office asset located at 60 East 42nd Street in Midtown Manhattan, encompassing a total of 78,704 square feet. The property is part of a larger 1.2 million square foot building owned by Empire State Realty Trust.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not disclosed
• Market: Midtown Manhattan
• Landlord: Thomas Durels & Anthony E. Malkin - Empire State Realty Trust
• Tenant: Lawrence Calcano - ICapital
• Brokers: Jordan Berge & Ryan Kass - Empire State Realty Trust; Neil Rubin, Scott Klau, William Cohen & Erik Harris - Newmark
• Lease Term: 16 years
• Existing Tenant Space: 141,223 sf

The transaction highlights the involvement of significant individuals in the leasing process, with Thomas Durels and Anthony E. Malkin representing the landlord, while Lawrence Calcano acts as the tenant representative for iCapital. Additionally, Jordan Berge and Ryan Kass from Empire State Realty Trust, along with Neil Rubin, Scott Klau, William Cohen, and Erik Harris from Newmark, played essential roles in facilitating the lease agreement.