Merchants Bancorp Blossoms to 18K SF at 10 Grand Central
By Amanda Schiavo November 3, 2025 5:13 pm
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Merchants Bancorp, a bank holding company, has more than doubled its presence at the Marx Realty-owned 10 Grand Central, expanding from 8,700 square feet to 18,000 square feet, the building owner announced.
The company will move from its smaller space on the 24th floor to a larger office on the 14th floor. The length of the lease is 10 years, and the asking rent for the new space is $94 per square foot. The Indiana-based bank moved into 10 Grand Central in 2022, Commercial Observer previously reported.
Savills’ Chris Foerch brokered the deal for the tenant. Foerch did not immediately respond to a request for comment.
Additionally, TMF Group, a global professional services firm that provides accounting, corporate, HR, administrative and capital market support to other businesses, also expanded its footprint at 10 Grand Central.
TMF Group has signed a new lease for 6,000 square feet on the 34th floor for 10 years at an asking rent of $120 per square foot. The firm will move from the 3,000 square feet it previously occupied on the ninth floor.
TMF Group moved into 10 Grand Central in 2024, CO reported at the time. JLL’s Jason Roberts represented TMF Group on this deal.
Mitchell Konsker, Thomas Schwartz, Carlee Palmer and Nicole Danyi, also from JLL, represented Marx Realty on both leases. JLL did not immediately respond to requests for comment.
“We are thrilled to see our tenants continue to grow within 10 Grand Central’s ecosystem,” Craig Deitelzweig, CEO of Marx Realty, said in a statement announcing the two leases. “We remain committed to continuously elevating the tenant experience and are steadfast in our goal to create a workplace experience that inspires people every day. These expansions illustrate the success of our vision.”
10 Grand Central has undergone a massive redevelopment, fitting the building with a vibe more akin to a luxury hotel than a corporate office. Other tenants at 10 Grand Central include research firm Green Street Advisors, investment advisory firm Family Management Corporation, and business advisory firm Riveron.
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
