Data Center Developer Edged Takes 6K SF at Marx Realty’s 10 Grand Central

Edged, a subsidiary of tech infrastructure innovation company Endeavour, will open its first New York City office right next to Grand Central Terminal.

Edged, which builds and operates data centers designed for artificial intelligence, has signed a new 5,500-square-foot lease at Marx Realty’s 10 Grand Central in Midtown, the landlord announced Wednesday. 

The length of the lease was not disclosed, but the asking rent was $125 per square foot.

Edged will occupy space on the building’s 32nd floor for its first New York City office. The firm is headquartered in Darien, Conn., and has data center campuses in Atlanta, Chicago, Columbus, Dallas, Des Moines, Kansas City and Phoenix, according to its website.

Edged was represented in its new deal by Cushman & Wakefield’s Peter Kerans and Samantha Perlman. A spokesperson for C&W did not immediately respond to a request for comment.  

Meanwhile, construction, property management, and real estate development firm Conifer Realty also signed a 5,000-square-foot lease at 10 Grand Central, according to Marx Realty. The length of the lease was unclear, but the asking rent was $92 per square foot. The firm will occupy space on the building’s 10th floor. 

“Conifer has more than 50 years building and preserving affordable housing that communities depend on, and New York City is the strategic center of gravity for that work,” William Gilbane, CEO of Conifer, told Commercial Observer. “Our new office at 10 Grand Central keeps us close to those conversations.”

Conifer represented itself in the lease negotiations. Marx Realty was represented in both deals by Mitchell Konsker, Thomas Swartz, Carlee Palmer and Nicole Danyi from JLL. 

“I’ve been fortunate enough to be part of that building assignment for the last five years, and that repositioning has been extremely successful,” Swartz told Commercial Observer. “The whole hospitality approach that they’ve taken, from the lobby to the amenities to the suites, really resonates with boutique users.” 

10 Grand Central, which Marx Realty has been redeveloping into a premier office space infused with hospitality elements, is now 95 percent leased, according to the property owner. 

“These new leases reflect continued demand from high-quality tenants seeking a more elevated and experience-driven workplace,” Craig Deitelzweig, CEO of Marx Realty, said in a statement. “At 10 Grand Central, we’ve created an environment that blends design, hospitality and functionality in a way that resonates with companies looking to offer their teams a beautiful and special office environment.”

Other tenants at 10 Grand Central, a 35-story office tower, include real estate analytics firm Green Street, bank holding company Merchants Bancorp, and business advisory firm Riveron.   

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.

Update: This story has been updated to reflect corrected details about the deal.