W. 57th space goes to RKF

Real Estate Weekly, Jan 15, 2003

Robert K. Futterman & Associates (RKF) has been named the exclusive leasing agent for 24,280 SF of retail space on three levels at 40 West 57th St., a 33-story, 715,000-SF building located between Fifth and Sixth Avenues, on 57th Street.

RKF director Mark Kapnick is marketing the property for long-term direct lease on behalf of the owner, Lefrak SBN Limited Partnership.

The space, which is presently home to Duane Reed and the Scandinavian Ski Shop, will be available for occupancy in 2003. It includes 7,032 SF of ground level space, 10,025 SF on the second floor and an additional 7,223 SF of lower level space.

"One of Manhattan's premier addresses, 57th Street has always been distinctive area known, for attracting prestigious retailers such as Bulgari, Tiffany, Prada and Louis Vuitton, all of whom have stores one block east of this property," said Kapnick. "An abundance of heavy pedestrian traffic, from both offices and tourism during the day, dining by night and close proximity to subways, help 57th Street to remain one of the strongest and most vibrant retail corridors around. The mix of affordable rents and the glamour of a 57th Street address make this an ideal location for a broad spectrum of retailers such as clothing, sporting goods or electronics, or even for a spa."

The building is currently undergoing renovations, which include a new facade and entrance.