Manhattan, NY CBRE completed five new office leases totaling 103,566 s/f at the office tower at 40 West 57^th St. in the city’s Plaza District in the past few months. The new signings demonstrate the demand for office space at the class A office property owned by LeFrak.

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. on behalf of LeFrak.

“40 West 57^th St. is without a doubt one of the highest quality office buildings in the Plaza District,” said Fiddle. “Tenants are once again making long-term decisions on their real estate requirements and are especially attracted to office space that offers the best work environment for their employees and a plethora of amenities.”

Among the deals completed at 40 West 57^th St. was a 25,000 s/f renewal and expansion for the entire 25^th floor by investment management firm Duquesne Capital Management. The firm, which was represented by a CBRE team of John Nugent and Craig Reicher, previously occupied 19,569 s/f of space on multiple partial floors of the property and will be expanding its footprint and extending the term of its lease on the entire 25^th floor.

Silverpeak Real Estate Partners, a full-service real estate investment, development and management firm, inked a 25,000 s/f direct lease at the property for the entire 29^th floor. The firm, which is currently a subtenant at the property, was represented by CBRE’s Silvio Petriello in the lease negotiations.

Additionally, Access Industries, a privately held industrial group with long-term holdings worldwide, committed to a 25,000 s/f lease for the entire 28^th floor. The firm currently subleases space at the property and wanted to make a long-term commitment for its operations.

Eisner LLP, a full-service international business and entertainment law firm, leased 20,750 s/f of space on the 20^th floor. The firm is expanding and upgrading its New York City operations previously located at 152 West 57^th St.

Finally, Dealpath, an AI-based platform that is leading the digital transformation of real estate investment management, committed to a 7,816 s/f lease on the second floor. The firm will be relocating its headquarters from a flex-space operator on Sixth Ave. and moving into a brand new pre-built unit.

Earlier this year, HPS Investment Partners renewed and expanded in the building for 159,000 s/f. HPS was represented by a CBRE team of Silvio Petriello, Ben Friedland and Tamika Kramer. Additionally, in June of this year, Elliot Management Corp. expanded in the building when they leased approximately 15,000 s/f on the partial 27^th Floor. Elliot was represented by Neil Goldmacher, Chris Mongeluzo and Eric Zemachson from Newmark.

LeFrak recently transformed the second floor of 40 West 57^th Street into an amenity lounge, featuring multiple conference rooms with full A/V capabilities, a tenant lounge space and a full-service café. The property also has an outdoor terrace overlooking 57^th St., and the owners are currently finalizing the design for a full lobby renovation.

Built in 1972 and designed by architect Jack Brown, 40 West 57^th St. is a 712,000 s/f, class A office tower in the heart of midtown Manhattan. The 428-ft.-tall skyscraper was developed by Samuel LeFrak.

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