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Marx Realty CEO Craig Deitelzweig pushes hospitality-style office upgrades
The CEO says Marx Realty has repositioned properties in Manhattan, Washington, D.C., and other markets by turning older buildings into more destination-like workspaces.
Marx Realty CEO Craig Deitelzweig says the company is focused on beautifying its office portfolio by making workplaces feel like destinations rather than sterile, harsh spaces. In an interview with Commercial Observer, Deitelzweig described his approach as creating office environments with warmth, spirit, and a distinct sense of place.
Deitelzweig, who became CEO of Marx Realty in 2017, tied the strategy to repositioning, a process he said he has come to enjoy, including transforming older assets into something new. He said the firm’s repositioning work has included Manhattan projects such as 10 Grand Central and 545 Madison Avenue.
The CEO also pointed to Washington, D.C. assets in Marx Realty’s portfolio, including the Herald at 1307 New York Avenue and the Grogan at 819 Seventh Street. He described his career path from law to real estate and said earlier assignments helped him develop a track record for successfully repositioning troubled office properties.
Commercial Observer reported that Deitelzweig began repositioning work in Boston on assets he characterized as the firm’s redheaded stepchild, then said he expanded the same approach to D.C. and New York as those efforts proved successful.