Clothing manufacturer VF Corporation’s sportswear division has signed a 100,000-square-foot renewal at the LeFrak Organization’s 40 West 57th Street. In the deal commencing in April 2016, the tenant will remain on floors six through nine and vacate floors three through five.
More than 300 real estate professionals crowded the Metropolitan Club early Thursday morning, despite snow-covered sidewalks, for the Observer Media Group’s third annual Masters of Real Estate forum.
Sponsored by Fried Frank and Marks Paneth & Shron, the event drew boldface names like Larry Silverstein and Mortimer Zuckerman, who spoke about the devastation wrought by Sandy, not to mention financiers like Angelo Gordon & Co.’s Adam Schwartz and Rockpoint Group’s Keith Gelb, who weighed in on opportunistic investments.
Below, reporter Al Barbarino walks the room and listens in on the panels, striving to put his finger on the commercial real estate industry’s pulse, minute by minute.
Tocqueville Asset Management has expanded at 40 West 57th Street, a Plaza District office tower owned by the LeFrak Organization.
Sources said the company took about half of the building’s 18th floor for rents in the $70s per square foot. The deal will add about 12,000 square feet to the roughly 25,000 square feet the firm already occupies at the tower on the floor above, the entirety of 19.