CBRE arranges 100,000 s/f in office leases at 40 West 57th St.

New York, NY CBRE has completed five office leases totaling 100,000 s/f at 40 West 57^th St. in the city’s Plaza District. The new signings demonstrate the allure of class A office property owned by LeFrak.

The LeFrak team was led by Marylou Berk which included Meredith Jackness and Ray Kawas. The CBRE team of Howard Fiddle, Gregg Rothkin, Benjamin Joseph, Evan Fiddle and Arkady Smolyansky spearhead the office leasing at 40 West 57^th St., representing the building ownership in lease negotiations.

Among the deals completed at 40 West 57^th St. was a 50,000 s/f 15-year renewal for the entire 10^th and 11^th floors by Givaudan, a Swiss manufacturer of flavors, fragrances and active cosmetic ingredients. A&E Real Estate executed a 17,525 s/f, 10-year lease for a portion of the 17^th floor. The firm will relocate its corporate office from 5 Bryant Park. Additional commitments included a 13,500 s/f,10-year lease by Lightyear Capital. The firm will relocate its corporate office from 9 West 57^th St. to a portion of the 22^nd floor of 40 West 57^th St. Darsana Capital inked an 11,500 s/f lease for the remaining portion of the 22^nd floor. The company is relocating and expanding its corporate offices within the building. Finally, Elmwood Asset Management is expanding its offices on part of the 18^th floor and has signed a 7,275 s/f. lease.

40 West 57^th St. is a class A office tower in midtown Manhattan. The tower is owned by LeFrak, which houses its corporate headquarters in the building.

“We look forward to continuing our leasing efforts throughout our premier properties in New York City, California and the Jersey City Waterfront,” said Berk.

“40 West 57^th St. is without a doubt one of the true gems in the Plaza District,” said Fiddle. “Office leasing is starting to rebound and we are thrilled to have been able to provide outstanding Class A office space to meet the growing needs of these firms.”