New York, NY

CBRE Arranges 100,000 Sq. Ft of Office Leases at 40 West 57th Street in Heart of Midtown Manhattan’s Plaza District

15 Nov 2021

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CBRE today announced it has completed five office leases totaling approximately 100,000 sq. ft. at the prestigious office tower at 40 West 57th Street in New York 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 57th Street, representing the building ownership in lease negotiations.

“40 West 57th Street is without a doubt one of the true gems in the Plaza District,” said Howard 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.”

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

Among the deals completed at 40 West 57th Street was a 50,000 sq. ft., 15-year renewal for the entire 10th and 11th floors by Givaudan, a Swiss multi-billion dollar and multinational manufacturer of flavors, fragrances and active cosmetic ingredients.

A&E Real Estate executed a 17,525 sq. ft., 10 -year lease for a portion of the 17th floor. The firm will relocate its corporate office from 5 Bryant Park.

Additional commitments included a 13,500 sq. ft.,10-year lease by Lightyear Capital. The firm will relocate its corporate office from 9 West 57th Street to a portion of the 22nd floor of 40 West 57th Street.

Darsana Capital inked an 11,500 sq. ft. lease for the remaining portion of the 22nd 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 18th floor and has signed a 7,275 sq. ft. lease.

40 West 57th Street is a Class A office tower in the heart of midtown Manhattan. The tower is owned by LeFrak which houses its corporate headquarters in the building. Current availabilities at the property range from 2,700 sq. ft. to a full floor opportunity of 25,000 sq. ft. overlooking Central Park.


About LeFrak
LeFrak is a preeminent, family-owned property company committed to community development and long-term ownership. LeFrak affiliates own and manage an extensive portfolio of real property concentrated in the New York/New Jersey metropolitan area, as well as South Florida, Los Angeles and throughout the West Coast. Through its affiliated companies, LeFrak has developed and built the majority of its real estate portfolio and is one of the world’s leading property firms. The firm is acclaimed around the globe for the quality of its projects and its properties, its financial strength and conservatism, its entrepreneurial business model and its commitment to long term ownership. Although primarily focused on the residential and office sectors, LeFrak affiliates also invest in numerous hospitality, retail assets, securities, private businesses and energy. www.lefrak.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.