Investment advisory firm Marketfield Asset Management has signed a lease for 14,011 square feet for its new headquarters at 1 Grand Central Place, also known as 60 East 42nd Street, according to a press release issued by Empire State Realty Trust, the building’s landlord.
Marketfield will take space on the 36th floor and part of the 22nd floor when it relocates from 292 Madison Avenue. It has signed a 10-year lease for the 36th floor and a five-year lease for the 22nd floor. The prior tenant in the space was Hafetz & Necheles.
“1 Grand Central Place provides a first-class environment and outstanding location befitting Marketfield’s status in its industry,” said Robert Frischman, the executive vice president of EVO Real Estate Group, in prepared remarks. “When this tower floor became available, with a beautiful installation already in place, we jumped at the opportunity.”
Mr. Frischman represented the tenant in the transaction. ESRT’s Ryan O. Kass and Fred C. Posniak represented the landlord in-house, along with Newmark Grubb Knight Frank’s WIlliam Cohen, Jonathan Tootell and Julie Christiano.
“1 Grand Central Place is in high demand among top-tier tenants, like Marketfield, because of its convenient location and exceptional on-site amenities and services,” said Thomas P. Durels.
Asking rents were in the mid-$70s per square foot, according to the release.