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Rent Office 124 East 40th Street
| $ / SF / Yr | SF | Monthly Rent |
|---|---|---|
| $ 48.5 | ||
| $ 50 |
Nearby Sublease office Spaces for Rent
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Fifth Ave & East 44th Street | $ 65 | 13,500 |
$ 73,125 |
| Third Ave & East 39th Street | $ 35 | 49,100 |
$ 143,208 |
| Lexington Ave & East 43rd Street | $ 55 | 12,900 |
$ 59,125 |
| 5th Ave & East 44th Street | $ 70.5 | 9,600 |
$ 56,400 |
| Park Ave & East 45th Street | $ 98 | 9,700 |
$ 79,216 |
| E 42nd St & Lexington Avenue | $ 40 | 55,700 |
$ 185,666 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Park Ave & East 39th Street | $ 99 | 4,200 |
$ 34,650 |
| Fifth Ave & East 44th Street | $ 50 | 3,300 |
$ 13,750 |
| E 42nd St & Lexington Avenue | $ 49 | 4,800 |
$ 19,600 |
| Lexington Ave & East 41st Street | $ 63 | 3,800 |
$ 19,950 |
| 5th Ave & East 44th Street | $ 71 | 7,000 |
$ 41,416 |
| Park Ave & East 40th Street | $ 66 | 4,300 |
$ 23,650 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Fifth Ave & East 45th Street | $ 50 | 2,100 |
$ 8,750 |
| Park Ave & East 40th Street | $ 67.5 | 2,000 |
$ 11,250 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Fifth Ave & East 45th Street | $ 40 | 10,300 |
$ 34,333 |
| Lexington Ave & East 41st Street | $ 24.75 | 7,300 |
$ 15,056 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| E 42nd St & Park Avenue | $ 42 | 5,100 |
$ 17,850 |
| Fifth Ave & East 44th Street | $ 51.5 | 3,300 |
$ 14,162 |
| E 42nd St & Lexington Avenue | $ 52 | 4,800 |
$ 20,800 |
| Lexington Ave & East 41st Street | $ 27.25 | 5,600 |
$ 12,716 |
| Madison Ave & East 40th Street | $ 58.75 | 4,200 |
$ 20,562 |
| E 41st St & Fifth Avenue | $ 47 | 2,700 |
$ 10,575 |
| Fifth Ave & East 45th Street | $ 54 | 3,400 |
$ 15,300 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Fifth Ave & East 45th Street | $ 51.5 | 2,100 |
$ 9,012 |
| Lexington Ave & East 40th Street | $ 41 | 2,100 |
$ 7,175 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|
| Type of Space | Class A/month | Class B/month | Class C/month |
|---|---|---|---|
| Windowed office/person | |||
| Interior office/person | |||
| Team Rooms | |||
| Suites |
Nearby office Spaces for Rent
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Vanderbilt Ave & East 43rd Street | $ 125 | 15,800 |
$ 164,583 |
| Fifth Ave & East 46th Street | $ 69 | 11,400 |
$ 65,550 |
| Park Ave & East 41st Street | $ 175 | 12,200 |
$ 177,916 |
| Lexington Ave & East 42nd Street | $ 69 | 7,400 |
$ 42,550 |
| Third Ave & East 40th Street | $ 60 | 27,700 |
$ 138,500 |
| Park Ave & East 39th Street | $ 105 | 12,400 |
$ 108,500 |
| E 42nd St & Lexington Avenue | $ 69 | 28,500 |
$ 163,875 |
| Fifth Ave & East 40th Street | $ 85 | 11,200 |
$ 79,333 |
| Madison Ave & East 45th Street | $ 85 | 14,200 |
$ 100,583 |
| E 42nd St & Madison Avenue | $ 84 | 12,700 |
$ 88,900 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Park Ave & East 40th Street | $ 98 | 3,200 |
$ 26,133 |
| E 45th St & Lexington Avenue | $ 81 | 4,300 |
$ 29,025 |
| Lexington Ave & East 42nd Street | $ 67 | 4,000 |
$ 22,333 |
| Third Ave & East 40th Street | $ 63 | 3,600 |
$ 18,900 |
| Third Ave & East 42nd Street | $ 70 | 5,500 |
$ 32,083 |
| E 42nd St & Lexington Avenue | $ 58 | 4,100 |
$ 19,816 |
| Vanderbilt Ave & East 44th Street | $ 49 | 5,300 |
$ 21,641 |
| Third Ave & East 41st Street | $ 55 | 5,100 |
$ 23,375 |
| Third Ave & East 41st Street | $ 70 | 4,800 |
$ 28,000 |
| Third Ave & Between East 44th Street | $ 65 | 4,800 |
$ 26,000 |
| Third Ave & East 46th Street | $ 62 | 4,100 |
$ 21,183 |
| Third Ave & East 39th Street | $ 70 | 4,700 |
$ 27,416 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| E 45th St & Lexington Avenue | $ 75 | 2,400 |
$ 15,000 |
| Lexington Ave & East 42nd Street | $ 61 | 1,500 |
$ 7,625 |
| Park Ave & East 41st Street | $ 85 | 2,300 |
$ 16,291 |
| Lexington Ave & East 41st Street | $ 57 | 1,500 |
$ 7,125 |
| Third Ave & East 41st Street | $ 55 | 1,700 |
$ 7,791 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Fifth Ave & East 42nd Street | $ 58 | 7,400 |
$ 35,766 |
| E 42nd St & Park Avenue | $ 59 | 9,700 |
$ 47,691 |
| E 42nd St & Lexington Avenue | $ 65 | 8,400 |
$ 45,500 |
| Madison Ave & East 40th Street | $ 65.5 | 14,600 |
$ 79,691 |
| Vanderbilt Ave & East 44th Street | $ 79 | 8,100 |
$ 53,325 |
| Fifth Ave & East 45th Street | $ 68 | 7,900 |
$ 44,766 |
| E 44th St & Third Avenue | $ 58 | 8,400 |
$ 40,600 |
| E 45th St & Third Avenue | $ 48 | 7,100 |
$ 28,400 |
| Madison Ave & East 40th Street | $ 59 | 16,000 |
$ 78,666 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| E 41st St & Fifth Avenue | $ 59 | 5,300 |
$ 26,058 |
| E 45th St & Third Avenue | $ 48 | 5,000 |
$ 20,000 |
| Madison Ave & East 40th Street | $ 56 | 6,900 |
$ 32,200 |
| E 44th St & Third Avenue | $ 48 | 4,500 |
$ 18,000 |
| E 41st St & Fifth Avenue | $ 50 | 4,000 |
$ 16,666 |
| E 42nd St & Park Avenue | $ 66 | 6,700 |
$ 36,850 |
| Madison Ave & East 40th Street | $ 45 | 3,500 |
$ 13,125 |
| Madison Ave & East 40th Street | $ 75 | 3,600 |
$ 22,500 |
| Madison Ave & East 41st Street | $ 56 | 5,700 |
$ 26,600 |
| Madison Ave & East 41st Street | $ 61 | 2,600 |
$ 13,216 |
| Lexington Ave & East 41st Street | $ 60 | 3,700 |
$ 18,500 |
| Vanderbilt Ave & East 44th Street | $ 50 | 4,000 |
$ 16,666 |
| Fifth Ave & East 45th Street | $ 84 | 6,800 |
$ 47,600 |
| Third Ave & Between East 44th Street | $ 66 | 4,800 |
$ 26,400 |
| E 42nd St & Lexington Avenue | $ 55 | 3,300 |
$ 15,125 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| E 46th St & Fifth Avenue | $ 132 | 2,000 |
$ 22,000 |
| E 45th St & Third Avenue | $ 47 | 1,700 |
$ 6,658 |
| Madison Ave & East 41st Street | $ 55 | 2,000 |
$ 9,166 |
| Lexington Ave & East 40th Street | $ 43 | 2,100 |
$ 7,525 |
| Fifth Ave & East 42nd Street | $ 60 | 1,600 |
$ 8,000 |
| Lexington Ave & East 44th Street | $ 55 | 1,500 |
$ 6,875 |
| E 42nd St & Lexington Avenue | $ 61 | 2,200 |
$ 11,183 |
| E 42nd St & Madison Avenue | $ 69 | 2,100 |
$ 12,075 |
| Second Ave & East 43rd Street | $ 59 | 2,300 |
$ 11,308 |
| Madison Ave & East 39th Street | $ 52 | 1,900 |
$ 8,233 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Fifth Ave & Between East 42nd Street | $ 84 | 9,200 |
$ 64,400 |
| Fifth Ave & East 39th Street | $ 52 | 7,300 |
$ 31,633 |
| E 39th St & Fifth Avenue | $ 39.5 | 7,900 |
$ 26,004 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|---|---|---|
| Fifth Ave & Between East 42nd Street | $ 83.5 | 6,000 |
$ 41,750 |
| Address | $ / SF / Yr | SF | Monthly Rent |
|---|
Retail Spaces for Rent at 124 E 40th St
Rent Retail 124 E 40th St
Rent Medical Space at 124 E 40th St
- Etta Batman leased 500 SF
- Comprehensive Rapeutic… leased 500 SF
- Compu-Craft Business Svcs leased 500 SF
- Dr John W. Phelts leased 500 SF
- Dr Karen A Wright DC, PC leased 500 SF
- Dr. Alexander Alvarado Ps… leased 500 SF
- Dr. Joshua Kantor leased 0 SF
- Early Options leased 0 SF
- Assoc. Inc leased 500 SF
- Dr. Karen Wright, DC leased 500 SF
- Ziff Brothers Investment leased 125,000 SF at 350 Park Avenue
- Mitsubishi International Corp. leased 122,500 SF at 655 Third Ave
- BDO Seidman leased 121,441 SF at 100 Park Ave
- The United Nations leased 120,000 SF at 730 Third Ave
- Convene leased 116,000 SF at 530 Fifth Avenue
- McLaughlin & Stern leased 112,000 SF at 260 Madison Avenue
- WeWork leased 111,500 SF at 750 Lexington Avenue
- Katten leased 110,157 SF at 575 Madison Ave
- TBWA Worldwide leased 107,308 SF at 488 Madison Ave
- KPMG LLP leased 102,979 SF at 560 Lexington Ave
- Asanda Aveda leased 6,800 SF at 120 East 56th St
- New York Golf Center leased 6,500 SF at 100 Park Ave
- Francois Latapie leased 6,500 SF at 30 East 60th St
- Armonk Farm Inc. leased 6,400 SF at 2 West 45th St
- Nespresso leased 6,300 SF at 24 West 40th Street
- Le Pain Quotidien leased 6,050 SF at 3 Park Ave
- Brooks Brothers leased 6,000 SF at 11 East 44th St
- National Basketball Association leased 6,000 SF at 590 Fifth Ave
- JP Morgan Chase Bank leased 6,000 SF at 1 United Nations Plaza
- Bo Concept leased 6,000 SF at 220 East 57th St
| $ / SF | SF | Monthly Rent |
|---|---|---|
| Please notify me when a new space is available | ||
Strategically positioned just steps from Grand Central Terminal, 124 East 40th Street represents a high-value opportunity for firms prioritizing transit connectivity and a prestigious Midtown Manhattan footprint. We advise investors and owner-users to capitalize on the building's boutique scale, which offers a unique branding identity and floor-plate flexibility that is increasingly rare in this core submarket. Its proximity to major commuter hubs and the ongoing revitalization of the East Side ensures resilient long-term asset appreciation and consistent demand from high-profile professional services tenants.
Why Optimal Spaces Tenant Broker
- Lease negotiation: full terms, renewals, expansion options
- Cost analysis, inventory identification, negotiating scope
- Risk mitigation against hidden pitfalls
Cost Savings
- Negotiate 30+ leasing points to prevent hidden costs
- Save 10–15% on total leasing costs
- Save 100–200 hours filtering unviable spaces
- Property access via broker databases and networks (off-market, subleases, future availability)
Alone or With Other Brokers
- Managing agents owe fiduciary duty to landlords, seeking maximum price and terms rather than tenant savings.
- Inherent conflict of interest as most brokers represent landlords
- Risk of weaker terms and overlooked hidden costs
- Heavy workload falls on you while best spaces are missed
124 East 40th Street Property Overview
| Building Address: | 124 E 40th St, New York NY 10016 |
| Building Alternate Address: | 124 E 40th St |
| Zip Code: | 10016 |
| Neighborhood: | Grand Central |
| Borough: | Manhattan |
| Stories: | 0 |
| Year Built: | 1923 |
| Building Class: | C |
| Block & lot: | 00895-0078 |
124 East 40th Street is a historic building located in the Murray Hill area of Manhattan, New York City. It was constructed in 1923 and features an 11-story structure. The building is classified as an office with commercial units, reflecting its business-oriented architecture and function in the heart of the city.
The building has a single structure on its lot and covers a total lot area of 5,036 square feet. Its market value is assessed at approximately $13.23 million, with annual property taxes estimated around $587,338. The building's dimensions are noted as 59.25 feet by 76 feet.
Originally part of New York's early 20th-century development, 124 East 40th Street also known as part of the address 350 Lexington Avenue, remains a significant part of Manhattan's architectural heritage. Its proximity to major business centers makes it an attractive location for commercial interests.
124 E 40th St, New York, NY 10016
This property is located in the vibrant neighborhood of Murray Hill, known for its historical architecture and proximity to major transportation hubs.
Property Details
- Building Type: Commercial
- Year Built: 1923
- Stories: 11
- Building Size: 47,414 sqft
- Lot Size: 5,036 sqft
Location Information
The property is situated in a prime area of Manhattan, providing easy access to public transportation, dining, and entertainment options.
Nearby Public Transport
- 42nd Street–Grand Central - 4 minutes walk
- 5th Avenue - 8 minutes walk
- Grand Central - 5 minutes walk
Tax Information
- Estimated Property Tax: $581,402 (2024-2025)
- Market Value: $13,229,000
- Assessed Value: $5,953,050
Neighborhood Overview
Murray Hill is known for its blend of residential and commercial spaces, providing a lively urban atmosphere. The area features a mix of old-world charm and modern conveniences, making it a desirable location for both businesses and residents.
124 E 40th St, Manhattan, NYC offers the following building amenities:
- High Ceilings
- Natural Light
- Wi-Fi
- 24/7 Key/Card Access
124 East 40th Street, located in the Murray Hill neighborhood of Manhattan, New York City, is an 11-story commercial building constructed in 1923. The property features both office and retail spaces and is known for its central location, offering a high transit score due to its proximity to Grand Central Terminal.
The building is classified as a Class C property and has been the site of various tenants, including office and medical users. It provides amenities such as 24/7 key/card access and convenient access to major transportation hubs.
Office spaces here often come equipped with built offices, a wet pantry, and private restrooms, making it suitable for businesses requiring functional and accessible work environments.
Past tenants or users have likely included small businesses, medical practices, and other professional services. However, specific details about current or past office tenants are not readily available in the provided information.
For those residing at 124 E 40th St in Manhattan, NYC, the primary internet providers include:
- Verizon - Offers 100% fiber-optic network with speeds up to 940/880 Mbps.
- Spectrum - Provides cable internet with speeds up to 1 Gbps.
- Astound Broadband Powered by RCN - Offers both cable and fiber services with competitive pricing.
124 E 40th St in Manhattan, NYC, is strategically located near several major transportation hubs and cross streets.
Transportation Options:
- Subway: Accessible via the 4, 5, 6, 7, M, and S trains, with Grand Central Terminal just a short walk away.
- Bus: Service by BxM1, M5, M101, M3, M103, and others.
- Train: Nearby access to HARLEM, HUDSON, DANBURY, and other routes.
Nearest Cross Streets:
- Madison Avenue and Park Avenue offer convenient walking routes.
- Lexington Avenue is nearby, providing additional connectivity.
- Etta Batman leased 500 SF
- Comprehensive Rapeutic… leased 500 SF
- Compu-Craft Business Svcs leased 500 SF
- Dr John W. Phelts leased 500 SF
- Dr Karen A Wright DC, PC leased 500 SF
- Dr. Alexander Alvarado Ps… leased 500 SF
- Dr. Joshua Kantor leased 0 SF
- Early Options leased 0 SF
- Assoc. Inc leased 500 SF
- Dr. Karen Wright, DC leased 500 SF
- Ziff Brothers Investment leased 125,000 SF at 350 Park Avenue
- Mitsubishi International Corp. leased 122,500 SF at 655 Third Ave
- BDO Seidman leased 121,441 SF at 100 Park Ave
- The United Nations leased 120,000 SF at 730 Third Ave
- Convene leased 116,000 SF at 530 Fifth Avenue
- McLaughlin & Stern leased 112,000 SF at 260 Madison Avenue
- WeWork leased 111,500 SF at 750 Lexington Avenue
- Katten leased 110,157 SF at 575 Madison Ave
- TBWA Worldwide leased 107,308 SF at 488 Madison Ave
- KPMG LLP leased 102,979 SF at 560 Lexington Ave
- Asanda Aveda leased 6,800 SF at 120 East 56th St
- New York Golf Center leased 6,500 SF at 100 Park Ave
- Francois Latapie leased 6,500 SF at 30 East 60th St
- Armonk Farm Inc. leased 6,400 SF at 2 West 45th St
- Nespresso leased 6,300 SF at 24 West 40th Street
- Le Pain Quotidien leased 6,050 SF at 3 Park Ave
- Brooks Brothers leased 6,000 SF at 11 East 44th St
- National Basketball Association leased 6,000 SF at 590 Fifth Ave
- JP Morgan Chase Bank leased 6,000 SF at 1 United Nations Plaza
- Bo Concept leased 6,000 SF at 220 East 57th St
VSA Consulting Group Testimonial
To whom it may concern:
I am writing to recommend Stephen Sunderland and Optimal Spaces Inc. for the excellent job they did in finding us a lease at our new space. They were fast and effecient in locating spaces that met our needs and corporate image, aggressive in negotiating on our behalf, and effective in communicating our needs to the landlord and getting our offer accepted.
I look forward to working with the team at Optimal Spaces Inc. again.
Very truly yours,
Jack Sichterman
Partner/Managing Director
Optimal Spaces negotiates tenant deals, typically securing 10-15% savings. We find the perfect commercial space in New York, offering a wide range of options: office, educational, industrial, retail, medical, and loft spaces.