Tower 40 — a 431,350-square-foot Manhattan workplace area — just lately signed agreements for 4 new leases totaling roughly 47,160 sq. toes. Previously generally known as Chase Tower, the property is situated at 10 E. fortieth St. and is at present owned by Madison Worldwide Realty in partnership with Joseph P. Day Realty.
The biggest of the 4 offers is for structure agency Hart Howerton’s 27,111 sq. toes on the thirty seventh and thirty ninth flooring of the workplace tower. The corporate prolonged its keep within the constructing for an extra 13 years and 6 months.
The landlords have been represented by Ethan Silverstein, Theodora Livadiotis and Caroline Collins of Cushman &Wakefield, with Ryan Alexander and Tim Freydberg of CBRE conducting negotiations on behalf of Hart Howerton.
The opposite corporations added to Tower 40’s roster embrace funding agency Alpha Sq. Group, which can occupy 8,769 sq. toes on the thirty fifth flooring; Italian trend home Missoni, which leased 3,800 sq. toes of penthouse area on the forty eighth flooring; and a multinational tire producer that took 7,480 sq. toes on the forty first flooring.
Alpha Sq. Group was represented by Cushman & Wakefield’s Evan Algier and Stephan Langton, whereas Diego Rodino di Miglione — additionally from Cushman — brokered the deal on behalf of Missoni.
“On this difficult workplace setting, the brand new tenants at Tower 40 represent a optimistic indicator that demonstrates the persevering with enchantment of high quality buildings in Midtown,” stated Diana Shieh, managing director at Madison Worldwide Realty. “We imagine the rebrand conveys the extent to which this historic constructing is being modernized with the infrastructure and companies that tenants demand.”
“We’re very gratified with the leasing success at Tower 40 and the celebrated roster of tenants we have now been capable of entice to this premier constructing in some of the trafficked areas of Midtown,” stated Larry Wohl of Joseph P. Day Realty. “We’ve discovered that discerning corporations nonetheless need the handy city location that Tower 40 affords, with proximity to Grand Central, Bryant Park and main accommodations.”
Designed by Ludlow & Peabody and inbuilt 1929, Tower 40 is at present present process renovations that embrace a completely upgraded foyer, in addition to enhancements to frequent areas.
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