Grand Central Terminal | TRD Research
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Grand Central Terminal

89 East 42nd Street
New York, NY 10017
Website
Retail, Leasing/Rental, Ground Lease, Other

Grand Central Terminal is a major train station in Midtown with the address 89 East 42nd Street. It has more platforms, in fact, than any train station in the world, with 44 serving 67 tracks along them, including subways and the Metro-North Railroad. Grand Central is also one of the biggest tourist attractions in the nation, with approximately 21.6 million visitors annually.

Given its perennial popularity, Grand Central also contains some of the more sought-after retail real estate in the city. The leasing for its more than 90 restaurants, food shops and stores is controlled by the Metropolitan Transportation Authority and handled by Newmark Grubb Knight Frank. Rents in the station can run to more than $1,000 annually per square foot.

The current Grand Central dates from 1913, but there had been a train station at the site since at least the 1970s. Its main concourse, with its starry, 125-foot ceiling, often appears in popular culture through movies and TV shows.

  • Year Built 1913
  • square feet 140,000
  • block and lot 1-01280-0001
  • BIN 1035381
  • Event Sales
  • Address One Vanderbilt
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 1,700,000
  • Price $ 525,000,000
notes
The Korean pension fund bought a 27.6% equity stake in the high office-tower project for $525 million.
  • Event Sales
  • Building Name Grand Central Terminal
  • Address 89 East 42nd Street
  • Neighborhood Midtown East
  • Borough Manhattan
  • Square feet 140,000
  • Price $ 63,000,000
  • Price per foot $ 450.00
  • Publication Date 09/01/2016
  • Event Date 07/15/2016
  • Party 1 Lehman Brothers
  • Party 2 MSD Capital
notes
The company bought a stake in Grand Central Terminal for $63 million.
  • Event Retail Leasing
  • Address Grand Central Terminal
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 1,357
  • Publication Date 06/01/2016
  • Event Date 05/18/2016
  • Party 1 MTA
  • Party 2 Warby Parker
  • Party 2 Brokerage Newmark Grubb Knight Frank
  • Party 2 Broker Reed Zukerman
notes
The optical company signed a lease in Grand Central Terminal.
  • Event Retail Leasing
  • Building Name Grand Central Terminal
  • Address 89 East 42nd Street
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 23,000
  • Publication Date 09/01/2011
  • Event Date 07/23/2011
  • Party 1 MTA
  • Party 2 Apple
notes
The tech giant signed a 10-year lease to occupy the terminal's north and northeast balconies. The new store will reportedly be the company's largest in the world.
  • Event Retail Leasing
  • Building Name Grand Central Terminal
  • Address 89 East 42nd Street
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 300
notes
The beer retailer signed a seven-year lease for space in Grand Central's Graybar Passage.
  • Event Retail Leasing
  • Building Name Grand Central Terminal
  • Address 87 East 42nd Street
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 400
  • Publication Date 04/01/2009
  • Event Date 02/20/2009
  • Party 2 LittleMissMatched
notes
The children's apparel and accessories retailer signed a one-year lease for its first full-size, brick-and-mortar location. The company had been operating a small kiosk in the Graybar Passage at Grand Central over the past year.
  • Event Retail Leasing
  • Building Name Grand Central Terminal
  • Address 89 East 42nd Street
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 200
  • Publication Date 11/01/2004
  • Event Date 09/22/2004
  • Party 1 Brokerage JLL
  • Party 2 Forever Silver
notes
Jewelry store fills last available retail space in terminal
  • Event Retail Leasing
  • Address Grand Central Terminal
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 200
  • Publication Date 11/01/2004
  • Event Date 09/17/2004
  • Party 1 Brokerage JLL
  • Party 2 Forever Silver
notes
Jewelry store fills last available retail space in terminal

03/01/2014
Several recent lease deals underscored the vagaries in the market for Howard Grufferman, vice chairman of the New York office of commercial brokerage Colliers International. He pointed to two leases, both in large, traditional office buildings, one along Third Avenue a block from Grand Central Terminal and another on Broadway two blocks south of Times Square, in the heart of the Garment District...