Madison International Realty, a leading real estate private equity firm, and Joseph P. Day Realty Corporation today announced 4 new transactions totaling 47,160 square feet (sqft) in leasing activity at 10 East 40th Street, now known as Tower 40:
- A multinational tire manufacturer has leased 7,480 sqft on the 41st floor.
- Hart Howerton, an architectural firm, has renewed and expanded to 27,111 SF over the 37-39th floors in the building.
- Alpha Square Group, an investment firm, has leased 8,769 sqft on the 35th floor.
- Missoni, a luxury Italian fashion house, has leased 3,800 sqft on the 48th floor penthouse.
Newly renamed Tower 40, this rebrand reflects the building’s premier Bryant Park location as well as the ongoing updates to the historic building for the modern office tenant. Currently, Tower 40 is undergoing a full lobby redo, common corridor renovations, and is building out multiple high-end pre-builts to offer bright open spaces with sweeping city views. Located on 40th Street between Fifth and Madison Avenues, Tower 40 rises 48 stories and spans 442,042 total sqft. The art deco tower was originally completed in 1929 and was designed by Ludlow & Peabody and built by Jesse H. Jones.
“In this challenging office environment, the new tenants at Tower 40 constitute a positive indicator that demonstrates the continuing appeal of quality buildings in Midtown. We believe the rebrand conveys the extent to which this historic building is being modernized with the infrastructure and services that tenants demand, said Diana Shieh, Madison International Realty Managing Director and Co-Head of Portfolio and Asset Management.
“We are very gratified with the leasing success at Tower 40 and the prestigious roster of tenants we have been able to attract to this premier building in one of the most trafficked areas of Midtown. We have found that discerning companies still desire the convenient urban location that Tower 40 offers, with proximity to Grand Central, Bryant Park and major hotels,” said Larry Wohl of Joseph P. Day Realty.
Madison International Realty is an industry leading liquidity solutions provider to existing real estate investors globally, investing across asset classes in major markets of the US, UK and Western Europe. Madison also provides equity solutions to real estate platforms seeking to retain assets, grow portfolios and/or raise capital more efficiently.
Madison International Realty and Joseph P Day were represented by Ethan Silverstein, Theodora Livadiotis and Caroline Collins of Cushman & Wakefield. Hart Howerton was represented by Alexander Ryan and Time Freydberg of CBRE, Alpha Square Group by Evan Algier and Stephan Langton of Cushman & Wakefield, and Missoni by Diego Rodino di Miglione of Cushman & Wakefield.
