Investment Firm 26 North Relocates to 84K SF at LeFrak’s 40 West 57th Street

Alternative investment management firm 26 North is relocating its New York City offices to LeFrak’s Midtown office tower at 40 West 57th Street, Commercial Observer has learned. 

The company has inked an 84,000-square-foot lease at the 36-story property, where it will occupy four full floors following its move from 600 Madison Avenue, according to landlord broker CBRE. 

26 North’s deal spans 11 and a half years. The asking rent was not disclosed, but the average asking rent for office space in Midtown was $84.68 per square foot in August, according to Colliers’ latest monthly office snapshot. 

But 26 North — which did not immediately respond to CO’s request for comment — isn’t the only new tenant coming to 40 West 57th Street.

Mack Real Estate Group, a New York City-based real estate investment, development and lending firm, has taken 20,750 square feet on part of the building’s 17th floor in space previously built out for A&E Real Estate, which is moving to another floor at the property. Mack will  relocate from its current office at 60 Columbus Circle. 

Mack did not immediately respond to a request for comment. The asking rent and the length of the lease were not disclosed. 

It is unclear when both firms will move into 40 West 57th Street. LeFrank was represented in both deals by an in-house team of Adam Silfen, Meredith Jackness and Stephanie Allan, as well as CBRE’s Howard Fiddle, Evan Fiddle, Ben Joseph, Arkady Smolyansky and Sam Seiler. 

Jared Horowitz and Howard Hersch from Newmark represented 26 North in its deal, while Newmark’s Brian Waterman and David Waterman represented Mack. Newmark declined to comment.

“Combined with LeFrak’s stable ownership, a strategic location in one of the city’s most desirable business districts, and ongoing capital improvements, 40 West 57th Street continues to attract premier tenants seeking a best-in-class office experience,” CBRE’s Fiddle said in a statement. 

Spanning more than 160,000 square feet, 40 West 57th Street is a Class A office property with amenities including a lounge, a café, conference rooms, an outdoor terrace, and a wellness center. A gym is expected to be delivered in 2027. 

Tenants in the building include Italian luxury retailer Loro Piana, private equity firms Lee Equity Partners and MHR Fund Management, investment management firm Two Creeks Capital Management, media investment and advisory firm Andalusian Sports Advisors, and alternative credit capital solutions provider HPS Investment Partners.

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.