Key Takeaways
- • Alternative investment management firm 26 North has leased 84,000 square feet across four full floors at LeFrak's 40 West 57th Street, relocating from 600 Madison Avenue on an 11.5-year lease.
- • The deal reflects continued institutional demand for premier Midtown office space, with 26 North joining other alternative asset managers at the 36-story tower; Midtown average asking rents stood at $84.68 per square foot in August 2026.
- • Real estate investment and lending firm Mack Real Estate Group simultaneously signed for 20,750 square feet on the 17th floor, relocating from 60 Columbus Circle; specific lease terms and rental rates for both deals were not disclosed.
- • LeFrak's 40 West 57th Street maintains near-full occupancy at approximately 750,000 square feet, with recent signings including Highbridge Capital Management (109,000 SF), Taconic Capital Advisors (50,000 SF), and Northern Trust (25,000 SF), demonstrating robust leasing momentum in the alternative investment sector.
- • CBRE represented LeFrak in both transactions via a combined team including Adam Silfen, Meredith Jackness, and Stephanie Allan, while Newmark advised both tenant firms.
Summary
Alternative investment management firm 26 North has secured an 84,000-square-foot lease at LeFrak's 40 West 57th Street in Manhattan, marking a significant office relocation for the Josh Harris-led investment platform. The company will occupy four full floors of the 36-story Midtown tower under an 11.5-year lease agreement, departing its current offices at 600 Madison Avenue. While specific rental rates were not disclosed, the transaction occurs against a backdrop of Midtown office space averaging $84.68 per square foot in asking rent as of August 2026, according to Colliers' market data.
Concurrent with 26 North's commitment, Mack Real Estate Group—a New York-based real estate investment, development, and lending firm—has leased 20,750 square feet on a portion of the building's 17th floor. Mack is relocating from 60 Columbus Circle, with the space previously built out for A&E Real Estate, which remains at the property on another floor. Lease terms and rental specifics for the Mack deal were not disclosed.
The deals underscore persistent institutional demand for premium office space in Midtown Manhattan's high-end segment, despite broader commercial real estate pressures. 40 West 57th Street has attracted a concentrated base of alternative asset managers and institutional investors, including Highbridge Capital Management (109,000 SF), Taconic Capital Advisors (50,000 SF), and Northern Trust (25,000 SF), among other tenants. The 750,000-square-foot tower maintains near-full occupancy.
LeFrak was represented by an in-house team comprising Adam Silfen, Meredith Jackness, and Stephanie Allan, alongside CBRE brokers Howard Fiddle, Evan Fiddle, Ben Joseph, Arkady Smolyansky, and Sam Seiler. Newmark represented both tenant companies, with Jared Horowitz and Howard Hersch advising 26 North, and Brian Waterman and David Waterman representing Mack. Move-in timing for both firms has not been announced.
Concurrent with 26 North's commitment, Mack Real Estate Group—a New York-based real estate investment, development, and lending firm—has leased 20,750 square feet on a portion of the building's 17th floor. Mack is relocating from 60 Columbus Circle, with the space previously built out for A&E Real Estate, which remains at the property on another floor. Lease terms and rental specifics for the Mack deal were not disclosed.
The deals underscore persistent institutional demand for premium office space in Midtown Manhattan's high-end segment, despite broader commercial real estate pressures. 40 West 57th Street has attracted a concentrated base of alternative asset managers and institutional investors, including Highbridge Capital Management (109,000 SF), Taconic Capital Advisors (50,000 SF), and Northern Trust (25,000 SF), among other tenants. The 750,000-square-foot tower maintains near-full occupancy.
LeFrak was represented by an in-house team comprising Adam Silfen, Meredith Jackness, and Stephanie Allan, alongside CBRE brokers Howard Fiddle, Evan Fiddle, Ben Joseph, Arkady Smolyansky, and Sam Seiler. Newmark represented both tenant companies, with Jared Horowitz and Howard Hersch advising 26 North, and Brian Waterman and David Waterman representing Mack. Move-in timing for both firms has not been announced.
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