Allianz takes nearly 7K sf at Malkin’s 1 Grand Central Place

May 29, 2013 01:00PM

Allianz Real Estate of America, a subsidiary of the German financial services company, signed a 10-year deal for 6,798 square feet at Malkin Holdings’ One Grand Central Place, Crain’s reported.

The company is heading east in Midtown, from 1114 Sixth Avenue at West 43rd Street to a portion of the 37th floor at 60 East 42nd Street, between Park and Madison avenues. The space had an asking rent of $59 per square foot.

Malkin attempted to draw tenants on the 37th floor of the 55-story, Depression-era building by constructing a pre-built office unit, Crain’s said.

Billy Cohen, a broker at Newmark Grubb Knight Frank, represents Malkin at the property. Fred Posniak of Malkin also helped arrange the deal with Allianz, along with Ryan Kass of Newmark.

Studley brokers Greg Taubin and Jason Perla represented Allianz, the newspaper said.

The Lincoln Building Was Renamed One Grand Central Place in 2010. [Crain’s]Mark Maurer