Men’s Retailer Takes 10K SF at Midtown Condo Tower

Menswear retailer Portabella has signed a lease for 10,000 square feet on the first two floors of the West 57th Street side of Tower 58, also known as 49 West 57th Street, Commercial Observer has learned.

Josh Augenbaum of Augenbaum Realty represented the landlord — an affiliate of Sedesco — and the tenant.

The lease is for five years at a blended asking rent for the two floors of $80 per square foot. The space will host a new retail outlet for the menswear company.

The retail space makes up the entire retail condominium component acquired by an affiliate of Sedesco from 49 West 57th Street Owner LLC, which is an affiliate of owners LeFrak and Vornado Realty Trust, for $18.5 million in July 2025, according to New York Business Journal.

The units — approximately 5,000 square feet each on the building’s ground and second floors — were sold as part of 58 West 58th Street, an alternate address for 49 West 57th Street, according to city records. The buyer also purchased the building’s third and fourth floors, which house office space and are also around 5,000 square feet each, according to Augenbaum.

The mixed-use, 34-story Tower 58 was built in 1969 by Loews Theaters and converted to condominiums in 1984, according to the building’s website. The building’s upper floors host 167 residences from studios to three-bedrooms. 

Current sale listings include a one-bedroom going for $1.375 million and a three-bedroom for $3.35 million. Rental listings for the building show that one-bedrooms start at $5,900 per month, and two-bedrooms start at $6,500 per month.

Larry Getlen can be reached at lgetlen@commercialobserver.com.