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Hedge Fund Snags Last Pre-built at 10 Grand Central

Investment management firm Rubric Capital signed a 5,800-square-foot, seven-year lease on the 16th floor at Marx Realty’s 10 Grand Central. Rubric Capital secured the last of the pre-built suites at 10 Grand Central, as ownership begins to attract companies to fill 25,000 square feet of its Penthouse Collection on the 32nd to 36th floors.

“This hedge fund joins a truly remarkable roster of tenants that includes well-known firms representing industries ranging from media and technology to financial and business service entities,” said Marx CEO Craig Deitelzweig. “The repositioning continues to draw high-profile tenants attracted to 10 Grand Central’s first-of-its-kind hospitality-infused aesthetic.”

Marx Realty has signed 184,000 square feet of new leases since announcing the building’s repositioning in mid-2018. Occupancy has increased from 78% to 95%.

JLL’s Cynthia Wasserberger, Sam Seiler, David Kleiner and Carlee Palmer are handling the leasing for Marx Realty. Rubric Capital was represented by Cushman & Wakefield.

Connect New York 2020 is set to take place on Tuesday, April 29 at Upper Story by Charlie Palmer. For more information, or to register, click here.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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