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July 10, 2026
One Grand Central Place at 60 East 42nd Street in the Grand Central submarket

Fintech firm iCapital is growing its New York City presence at One Grand Central Place, according to Commercial Observer, with a renewed commitment and a major expansion that brings its footprint in the building to a total of 219,928 square feet.

iCapital has been in One Grand Central Place since 2017 and has steadily increased its presence over time. In this latest transaction, the company renewed its existing space for two years and signed a separate 16-year expansion for an additional 78,704 square feet. Together, those pieces bring iCapital to nearly 220,000 square feet across the tower, a sizable foothold in one of Midtown’s most transit-friendly locations.

One Grand Central Place, also known by its address at 60 East 42nd Street, totals roughly 1.2 million square feet and sits directly across from Grand Central Terminal. The property offers a classic Midtown office experience with modernized building systems, on-site amenities, and immediate access to Metro-North and multiple subway lines, which continues to be a draw for financial and technology firms looking to keep teams connected to regional talent.

While the landlord did not disclose current asking rents for this latest deal, prior iCapital leasing at One Grand Central Place in 2022 was marketed around $80 per square foot, as previously reported by Commercial Observer. The combination of a short-term renewal on existing space with a long-term expansion suggests a flexible way for the tenant to solidify its long-range plans while keeping room to adapt as headcount and workspace needs evolve.

For iCapital, consolidating and expanding within One Grand Central Place simplifies operations and gives employees a consistent, centrally located headquarters environment. For the building, the commitment underscores ongoing demand from well-capitalized firms for quality office product in the Grand Central submarket, particularly in towers that can offer a mix of larger floor plates, institutional ownership, and strong transportation access.

TLDR; About The Deal

Tenant: iCapital

Building: One Grand Central Place (60 East 42nd Street)

Floor: 25 & 26

Lease term: 2-year renewal plus 16-year expansion

SF: 219,928

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