NEW YORK—Allianz Real Estate of America has signed a lease to occupy more than 7,000 sq. ft. on the 37th floor of One Grand Central Place. The company, which provides commercial mortgages on behalf of the Allianz Group insurance companies, is relocating from its current space at 1114 Avenue of the Americas. Allianz will move into its new space in the third quarter of this year. 

Greg Taubin and Jason Perla of Studley represented Allianz in the lease negotiations, while William Cohen and Ryan Kass of Newmark Grubb Knight Frank represented the landlord. The property is owned by W&H Properties and is supervised by Malkin Holdings LLC.

One Grand Central Place offers in-building access to Grand Central Terminal and offers amenities that include a visitor’s center, conference center and in-building dining. Standing 55 stories tall, the property has undergone an $85 million improvement program that included upgrades to windows, elevators, public corridors and restrooms, as well as updated electrical, plumbing, HVAC and security systems.