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Fintech firm iCapital expands footprint at One Grand Central


Not many financial services firms are expanding throughout the same constructing today. But fintech firm iCapital has added two full floors totaling 59,228 square feet at Empire State Realty Trust’s One Grand Central Place, a 1930-vintage, 1.245-million-square-foot tower at 60 E. forty second St.

The deal, iCapital’s fourth expansion within the renovated and modernized constructing since 2017, brings its stake there to 141,224 square feet. The corporate promotes access and efficiency in alternative investing for the asset and wealth-management industries.

iCapital CEO/chairman Lawrence Calcano said the “ongoing expansion has allowed us to drive innovation in a recent workspace and operate in an environment that invites collaboration.”

The tenant was repped by CBRE’s Lauren Crowley Corrinet, Al Golod and Christopher Hogan. The owner was repped by the Trust’s Jordan Berger and by Newmark’s Erik Harris, Neil Rubin, Scott Klau and William Cohen.

Asking rents at One Grand Central Place are $80 psf. The tower is 91.3% leased.

Meanwhile, change is within the air at ESRT’s most famous property, which after all is the Empire State Constructing. On the fun front, the landmark skyscraper was recently named the No. 1 tourist attraction within the US by TripAdvisor.

The two.7-million-square-foot office tower, which already boasts quite a few improvements each for tenants and visitors because of a half-billion-dollar capital upgrade, is adding a tenants’-only amenity space within the concourse that may include a “town hall” meeting space for 300, a basketball court, lounge, food and bar service and a golf simulator lounge.
It would be along with a fitness center, restaurants and an enormous, 23,000 square-foot Starbucks Reserve to open this yr.

There’s a latest leasing team, too, to be led by Newmark’s Scott Klau, which has a powerful track record at ESRT’s One Grand Central Place, 1400 Broadway and 111 W. thirty third St.

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