Big-time real estate investment concern Ashley Capital leased nearly 5,000 square feet of prebuilt space on the 45th floor of W&H Properties' One Grand Central Place for its headquarters. The firm will relocate this month from 919 Third Avenue, according to an announcement from Fred Posniak, W&H's senior vice president and all-around leasing ace.

One Grand Central, controlled by Peter and Anthony Malkin, has undergone $85 million in upgrades to its windows, elevators, air-conditioned public corridors and rest rooms and building-wide systems, including electrical, plumbing, HVAC and security. It also underwent a name change earlier this year: the Lincoln Building no more!

Jason Lund of Cushman & Wakefield represented Ashley Capital in the lease. William Cohen, Ryan Kass and Alison Coffey of Newmark Knight Frank represented the landlord.

rli@observer.com