New York City office leasing has continued to gain momentum through the end of the year. Seven lease transactions totaling 240,000 square feet in Midtown Manhattan illustrates the activity in the market.
Office owner LeFrak completed five lease transactions totaling 100,000 square feet at 40 West 57th Street in New York City's Plaza District. In the largest transaction, Givaudan signed a 50,000-square-foot renewal for the 10th and 11th floors of the building. The lease has a 15-year term. In the remaining transactions, A&E Real Estate signed a 10-year deal for 17,525 square feet, Lightyear Capital took 13,500 square feet in a10-year lease and Darsana Capital signed a 11,500 square-foot lease deal.
CBRE's Howard Fiddle, Gregg Rothkin, Benjamin Joseph, Evan Fiddle and Arkady Smolyansky negotiated the lease transactions.
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Kelsi Maree Borland
