The Durst Organization rebrands two Grand Central East towers : NYREJ

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Owners Developers & Managers

Manhattan, NY According to The Durst Organization, two commercial towers have officially been rebranded to capitalize on their location near Grand Central Terminal. The renaming of 655 Third Ave. to 5 Grand Central East and 733 Third Ave. to 11 Grand Central East marks the first official designations as Grand Central East – positioning both properties as anchors in the Grand Central neighborhood.

“Tenants are looking for high-quality office space with close proximity to Grand Central Station, creating a seamless commute for their teams. Establishing 5 and 11 Grand Central East reinforces the buildings’ standing near one of the biggest transit hubs in the world,” said Jody Durst, president of The Durst Organization.

Durst is deploying $16 million in capital investments at 5 Grand Central East to bring infrastructure to the building. The capital improvements include:

• Modernizing the HVAC heating and cooling system at the building, allowing for greater energy efficiency and control.

• Installing an advanced Building Management System that leverages multizone variable control to optimize HVAC performance — delivering superior tenant comfort, driving sustainability, and reducing carbon emissions.

• Installing a new Emergency Standby Generator System to maintain life safety and critical building operations, with available capacity to supply tenants with standby power during a citywide power outage.

In addition to the $16 million in capital improvements that are underway, the buildings have seen $60 million in investments over the last decade, reflecting The Durst Organization’s commitment to generational ownership.

5 Grand Central East (formerly 655 Third Ave.), at Third Ave. and East 42nd St., has established itself as a premier address in the district, with tenants including Clune Construction, the New York City headquarters of New York State’s Empire State Development (ESD) agency, and Abacus Group. The building is certified LEED Gold with sustainability features including 4,775 s/f of green roofs and double-glazed windows that deflect glare and improve office comfort.

11 Grand Central East (formerly 733 Third Ave. is home to tenants including Rosenberg & Estis, Eisner Amper, Marwood Group, and Fujitsu. 

Located at Third Ave. and East 46th St., the LEED Gold building features 7,107 s/f of green roofs and exclusive outdoor terraces. Recent improvements include a building-wide window replacement program and elevator modernization.

In the Grand Central neighborhood, success has been driven by the 2023 opening of Grand Central Madison which brought Long Island Rail Road access to the district. There has been significant investment in the area driven by building renovations and ground-up new developments through the 2017 Midtown East rezoning. Office tenants are able to go from a train at Grand Central Terminal to their desk in minutes. A recent report from JLL found that office buildings near transit hubs are in high demand as the number of office workers commuting to Manhattan increased by 45,000 people.