Rockwood Capital’s Midtown East Office Tower Hits the Market, $270M-Plus Price Sought
By Cathy Cunningham July 22, 2025 2:45 pm
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Rockwood Capital is selling 2 Grand Central Tower, its trophy office tower a mere stone’s throw from Grand Central Terminal, Commercial Observer has learned.
The firm is expecting a sales price upward of $270 million for the 667,000-square-foot asset, sources close to the disposition told CO.
Eastdil Secured’s Gary Phillips and Will Silverman are leading the sale.
2 Grand Central Tower sits in a prime position at 140 East 45th Street between Lexington and Third avenues, half a block from Grand Central Terminal’s 45th street entrance and close to the Chrysler Building. Rising 44 stories, it boasts skyline and East River views, plus a two-story atrium lobby.
Harry Macklowe built the property in 1981, with Boston Properties — now BXP — buying the property from Macklowe Properties in 2008 for $705 million, including the assumption of the property’s $310 million debt. Three years later, Rockwood purchased the building from Boston Properties, paying $401 million, according to The Real Deal.
Rockwood marketed the property for sale with a $580 million price tag back in February 2020, right before the pandemic hit, TRD reported.
The firm took a $260 million loan from MetLife in 2018, and that debt remains in place today, sources said.
The building’s 34th floor is San Francisco-headquartered Rockwood Capital’s New York City base, with Cigna, Nuvo Group, Deerpath Capital, Cortec Group, Banorte-Ixe Securities International and Greenlight Capital also in the tenant roster alongside a broader mix of financial, legal and professional services firms.
In addition to it being a hop, skip and a jump from Grand Central, the building also benefits from the Metropolitan Transportation Authority’s East Side Access project, completed in 2023.
Rockwood didn’t immediately return a request for comment. Eastdil declined to comment.
Cathy Cunningham can be reached at ccunningham@commercialobserver.com
