| Building Address: | 240 W 40th St, New York NY 10018 |
| Building Name: | Donna Karan NY Building |
| Building Alternate Address: | 240 W 40th St |
| Zip Code: | 10018 |
| Neighborhood: | Penn Plaza/Garment |
| Borough: | Manhattan |
| Stories: | 13 |
| Year Built: | 1923 |
| Building Class: | B |
| Block & lot: | 00789-0062 |
History of 240 West 40th Street, Manhattan, NYC
240 West 40th Street, known as the Freshman Building, is a historic commercial building located in the Garment District of Midtown Manhattan. Constructed in 1923, it stands as a 12-story structure covering approximately 137,199 square feet. For many years, the building was relatively underutilized and somewhat overlooked amidst the bustling heart of Midtown.
Its story is one of significant revitalization, reflecting the broader urban renewal occurring in Midtown Manhattan. The building underwent a comprehensive renovation that transformed it from an aging property into a modern and upscale destination. This renewal included the complete modernization of its electrical, plumbing, and HVAC systems, replacing outdated infrastructure with energy-efficient and sustainable alternatives.
The interior was fully redesigned to create sleek and contemporary spaces incorporating the latest design trends and technology, including open-plan layouts and high-end finishes. The exterior also received considerable attention, with façade restoration and enhancements to the building’s curb appeal, harmonizing with its prestigious Midtown location.
Situated in one of the most sought-after neighborhoods in New York City, 240 West 40th Street benefits from unparalleled access to public transportation, world-class amenities, and proximity to major business centers, making it an ideal location for professionals and entrepreneurs.
The transformation of 240 West 40th Street exemplifies a successful blend of historical context and forward-looking development. It has set a new standard for luxury and modern living in Midtown, symbolizing ongoing urban renewal and the evolution of this dynamic neighborhood.
240 West 40th Street, Manhattan, New York, NY 10018
Building Overview
240 West 40th Street, also known as the Freshman Building, is a commercial office building located in the Garment District of Manhattan, New York City. It was constructed in 1923 and consists of 12 stories with a total building area of approximately 137,199 square feet. The lot size is about 11,625 square feet with dimensions 118 ft by 98.75 ft.
Property Details
- Building Class: Office with Commercial 7-19 Stories (O6)
- Stories: 12
- Year Built: 1923
- Building Square Footage: 137,199 sq ft
- Lot Size: 11,625 sq ft
- Location: Garment District, Manhattan
Features & Amenities
- 24 Hour Access
- Atrium
- Controlled Access
- Concierge Services
- Metro/Subway Access
- Signage Opportunities
- Reception Area
- Central Heating and Air Conditioning
- High Ceilings and Natural Light
- Partitioned Offices and Plug & Play Workspaces
- Elevator Access
- Conference Rooms
Available Space
4th Floor Office Space
| Space |
Size |
Term |
Rental Rate |
Use |
Availability |
| 4th Floor |
15,100 SF |
Negotiable |
Upon Request |
Office |
Now |
Landlord offers build-to-suit modifications for qualified tenants, featuring high-end finishes, glass fronts, and a new lobby. Medical use is accepted. The space fits 38–121 people and includes amenities such as accent lighting and after-hours HVAC availability.
Tax and Sales Information
- Purchase Price (2018): $105,000,000
- Estimated Property Tax (2024-2025): $2,244,778
- Tax Assessor's Market Value: $48,249,000
- Assessed Value: $21,712,050
Building Amenities at 240 W 40th St, Manhattan, NYC
- 24/7 Access
- Reception Services and Administration Support
- Fully Renovated Lobby
- New Elevators, Windows, and Façade
- Exposed Brick and Steel Columns
- High-End Finishes and Glass Fronts
- Conference Rooms
- Central Air Conditioning with After Hours HVAC Available
- Elevator Access
- Natural Light and Accent Lighting
- Controlled Access and Concierge
- Atrium
- Kitchen Facilities
- High Ceilings
- Partitioned Offices and Plug & Play Options
- Metro/Subway Access Nearby
- High-Speed Fiber Internet Providers:
- Verizon New York (1 Gb/s download, 25 Mb/s upload)
- Level 3 Communications (10 Gb/s download/upload)
- Cablevision/Lightpath (10 Gb/s download/upload)
- Shared Workspace with Soundproofed Suites and Motorized Standing Desks
- State-of-the-Art Workspaces including Exercise Room, Meditation Space, Cycle Storage
- Full Kitchen with Unlimited Premium Teas and Coffee
- Mail Delivery Service and Cleaning Service
- Multiple Phone Booths for Privacy
- Meeting Rooms for Small to Medium Teams
- Event Space Accommodating up to 50 People
- WiFi and Printing Facilities
- Pet Friendly
- Accessibility Features
240 W 40th St, Manhattan, NYC, is home to several notable office tenants:
Notable Tenants:
- Popeyes Louisiana Kitchen
- Klick Health
- Dukas Linden Public Relations Inc
- Dr. Alexandre M. Scheer, MD and SCHEER MEDICAL
- Nomadworks - Offering flexible coworking spaces in the building.
Internet Providers at 240 W 40th St, Manhattan, NYC
| Provider |
Technology |
Max Download Speed |
Max Upload Speed |
| Verizon New York |
Fiber |
1 Gb/s |
25 Mb/s |
| Level 3 Communications |
Fiber |
10 Gb/s |
10 Gb/s |
| Cablevision/Lightpath |
Fiber |
10 Gb/s |
10 Gb/s |
| Starry |
Fixed Wireless |
1,000 Mbps |
Not Specified |
Transportation Near 240 West 40th Street, Manhattan, NYC
240 W 40th St is well-served by multiple public transit options, including bus, subway, and train services, providing convenient access throughout Manhattan and the greater New York City area.
Cross Streets
Located between 7th Avenue and 8th Avenue on West 40th Street.
Bus Lines
Nearby bus routes include: M20, Q32, QM10, QM15, X37, and SHORTLINE HUDSON.
- Bus stops within a 1-5 minute walk:
- 8 Av & W 39 St (1 min walk)
- W 40th St & 8th Ave (2 min walk)
- 8 Av & W 40 St (3 min walk)
- New York Port Authority Bus Terminal (3 min walk)
- W 42nd St & 8th Ave Times Square (4 min walk)
Subway Lines
Subway lines serving the area include: 1, 7, 7X, A, C, E, M, W, B, D, F, FX, N, Q, R, and S.
- Nearby subway stations:
- 42 St-Port Authority Bus Terminal
- Times Sq-42 St (nearby major transit hub)
- 34 St-Penn Station (within walking distance)
Train Services
Train routes accessible nearby include PATH trains and regional lines such as Ronkonkoma Branch, Acela, Adirondack, Cardinal, Carolinian, and Crescent.
Additional Notes
The New York Port Authority Bus Terminal is approximately a 9-minute walk (547 yards) from 240 W 40th St, making it a central transit node for bus travelers.
Subways operate 24 hours with the earliest trains around 3:00 AM and last trains near 4:00 AM, ensuring round-the-clock connectivity.
