Marx Realty is a New York commercial real estate owner, developer and manager founded in 1915, operating as a division of Merchants’ National Properties. Under CEO Craig Deitelzweig the firm has become known for repositioning older office buildings with hospitality-influenced lobbies and amenity programs, a strategy applied across its holdings in New York, Washington and Atlanta. Its retail portfolio includes Cross County Center in Yonkers, New York, the 1.15-million-square-foot property that opened in 1954 as the country’s first open-air shopping center and now draws roughly 14 million visitors a year. Marx broke ground in 2026 on the center’s north lot redevelopment: 58,000 square feet of new retail across two buildings, underground parking and a four-acre public park, with both buildings nearly fully leased before construction started.
Beyond the Yonkers work, the Marx portfolio concentrates on a short list of named Manhattan assets rather than a broad spread of holdings. 10 Grand Central at 155 East 44th Street and 545 Madison Avenue are the two most visible, joined by 430 Park Avenue, 201 East 57th Street, 124 Hudson Street, 92 Prince Street, and the pair of Bowery buildings at 135 and 161. Outside New York, the firm owns The Herald at 1307 New York Avenue in Washington, DC and 207-211 Peachtree Street in Atlanta. Development sites at 532 Madison Avenue, One Bromfield Street and 2200 P Street sit in the pipeline alongside The Mill Building and The Grogan.
What is worth understanding about Marx for anyone on the contracting or vendor side is that the company runs most disciplines internally. The leadership roster covers acquisitions and asset management, leasing, property management across regions, construction, legal and a full accounting group. Jeffrey T. Young holds the Director of Construction title, so capital projects are directed by an owner-side construction lead rather than handed wholesale to an outside development manager. Craig M. Deitelzweig is President and CEO; Eric A. Hatch is CFO and Troy McNamara is General Counsel.
That structure explains the pattern in the repositioning work. Marx buys older office stock, then rebuilds the arrival sequence and amenity floors to a hospitality standard: reworked entry portals, lounges, libraries and parlors, landscaped terraces, conference facilities and prebuilt suites. Those are interiors-heavy scopes, executed in occupied buildings, which is a different scheduling problem from ground-up work and tends to favor trades experienced in phased, off-hours construction.
The retail side is a separate discipline again. Cross County Center in Yonkers is an open-air center rather than an enclosed mall, so its capital program involves site work, parking structures and pad development as much as tenant fit-out.
The company’s own materials date its founding to 1915, which puts more than a century of ownership behind the current portfolio. Marx also maintains a club concierge role on staff, an unusual line item for an office landlord and a signal of how far the hotel-influenced service model has been pushed into day-to-day operations.
