Real Estate
Home›Real Estate›Industry›Nutter expands office footprint at Durst’s 5 Grand Cen…
Nutter expands office footprint at Durst’s 5 Grand Central East
The lease deal adds 5,719 square feet on the 25th floor, bringing Nutter’s total space in the tower to 11,438 square feet.
The Durst Organization said Boston-based law firm Nutter has renewed its existing space and expanded at 5 Grand Central East, the office tower at 655 Third Avenue near Grand Central Terminal, Commercial Observer reported.
Nutter will renew 5,719 square feet on the 27th floor and add another 5,719 square feet across the entire 25th floor, increasing its total footprint at the 30-story building to 11,438 square feet.
Durst said the asking rent was $80 per square foot, and that the deal was brokered by CBRE for Nutter, with Durst represented in-house. The article did not disclose lease length.
Durst last year rebranded the nearby properties as part of its investment in the Grand Central submarket. Commercial Observer cited VTS data showing demand in the Grand Central East area has risen 127 percent since 2021, driven largely by tenants in the FIRE industries, and that the amount of office space sought rose from 3.3 million square feet in 2021 to higher levels last year.