NEW YORK CITY - The General Contractors Association of New York, Inc. (GCA) has signed a long-term lease renewal for 9,000 square feet on the 35th floor at W&H Properties' One Grand Central Place, announces Fred C. Posniak, senior vice president of W&H Properties.
GCA has been a tenant of the building for more than 35 years.
"We're pleased that our long relationship with the General Contractors Association will continue," says Mr. Posniak. "A lease renewal is a vote of confidence, which ownership has earned as a result of its long-term financial stability, flexibility, responsiveness and fulfillment of promises."
Established in 1989, GCA serves the heavy construction industry in New York City, providing members with technical guidance and assistance on labor contract issues and agency bidding requirements and contract terms. For more information, please see www.gcany.net.
Daniel Horowitz of Studley represented GCA in the lease negotiations. William Cohen, Ryan Kass, Jonathan Fanuzzi and Alison Coffey of Newmark Knight Frank represented the landlord.
Rising 55 stories directly opposite Grand Central Terminal, One Grand Central Place offers a white-glove corporate environment with unparalleled convenience. It offers direct in-building access to Grand Central Terminal, including Metro North and the 4, 5, 6, 7 and Times Square shuttle subway lines, and unsurpassed on-site services and amenities including a visitor center, messenger center, multi-media conference center and law library.
The property's recently completed $85 million upgrade program includes new windows, renovated elevators, renovated air-conditioned public corridors and restrooms, and upgraded building-wide systems, including state-of-the-art electrical, plumbing, HVAC and security.
Part of W&H Properties Pre-War Trophy office portfolio, One Grand Central Place is owned by Lincoln Building Associates LLC, a partnership led by Peter L. Malkin and Anthony E. Malkin, one of New York City's most financially stable ownerships.
Available space ranges from W&H portfolio standard high-end pre-built suites from 2,500 to 5,000 square feet, build-to-suits from 5,000 square feet and white-boxed full floors from 9,000 to 48,000 square feet. Ground floor retail is also available on Madison Avenue, totaling 3,000 square feet.
Broker commissions are paid in full at lease signing.