Durst Rebrands Two of Its Midtown Office Towers Near Grand Central

The Durst Organization has rebranded two of its office towers near Midtown’s Grand Central Terminal, Commercial Observer has learned.

Following an approval from Manhattan Borough President Mark Levine, Durst has renamed its 30-story office building at 655 Third Avenue to 5 Grand Central East, and its 24-story office tower at 733 Third Avenue to 11 Grand Central East, according to the landlord.

The move represents the “first official designations as Grand Central East” and “positions both properties as anchors in the Grand Central neighborhood,” Durst said.

“Tenants are looking for high-quality office space with close proximity to Grand Central Station, creating a seamless commute for their teams,” Durst Organization President Jody Durst said in a statement. “Establishing 5 and 11 Grand Central East reinforces the buildings’ standing near one of the biggest transit hubs in the world.”

In addition to the rebranding, Durst is deploying $16 million in capital investments at 5 Grand Central East, including updated HVAC and building systems and a new emergency standby generator, according to the landlord.

The renamed 5 Grand Central East sits on Third Avenue between East 41st and East 42nd streets. Current office tenants include construction company Clune Construction, employment agency Abacus Group, and Empire State Development, New York State’s economic development arm.

The renamed 11 Grand Central East sits three blocks north on Third Avenue between East 45th and East 46th streets. Tenants include health care advisory firm Marwood Group, real estate law firm Rosenberg & Estis, accounting firm EisnerAmper and Japanese technology services provider Fujitsu.

News of the buildings’ rebranding comes as Manhattan office buildings near major transit hubs — such as Grand Central and Penn Station — are in high demand, especially after commuting patterns recovered following the COVID-19 pandemic, and more commuting possibilities opened up following the opening of the Grand Central Madison underground terminal in 2023.

In fact, the number of Manhattan office workers commuting in from homes in the suburbs has increased by 45,000 employees since the pandemic, with most workers able to get to their office desks from major transit hubs within minutes, according to an August report from JLL.

Isabelle Durso can be reached at idurso@commercialobserver.com.