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Rent/Lease Office 240 W 40th St

$ / SF / Yr SF Monthly Rent
Negotiable

Nearby Sublease office Spaces for Rent

Address $ / SF / Yr SF Monthly Rent
Broadway & West 36th Street $ 48
11,700
$ 46,800
Penn Plaza & West 33rd Street $ 41.5
29,000
$ 100,291
Bryant Park & Sixth Avenue $ 60
14,000
$ 70,000
Address $ / SF / Yr SF Monthly Rent
Broadway & West 36th Street $ 55.5
3,200
$ 14,800
Broadway & West 41st Street $ 56.5
4,700
$ 22,129
Fifth Ave & West 33rd Street $ 71
4,300
$ 25,441
Address $ / SF / Yr SF Monthly Rent
Broadway & West 41st Street $ 55
2,200
$ 10,083
Address $ / SF / Yr SF Monthly Rent
W 37th St & Sixth Avenue $ 33.5
11,400
$ 31,825
W 37th St & Avenue of the Americas $ 34.5
10,200
$ 29,325
Broadway & West 37th Street $ 42
11,100
$ 38,850
Seventh Ave & West 38th Street $ 38
7,700
$ 24,383
Eighth Ave & West 34th Street $ 54
8,900
$ 40,050
Address $ / SF / Yr SF Monthly Rent
Seventh Ave & West 38th Street $ 48.5
4,200
$ 16,975
W 37th St & Sixth Avenue $ 35
3,500
$ 10,208
W 40th St & Eighth Avenue $ 41.5
2,600
$ 8,991
Broadway & West 37th Street $ 41
6,100
$ 20,841
Address $ / SF / Yr SF Monthly Rent
Seventh Ave & West 38th Street $ 47
2,100
$ 8,225
Tenth Ave & West 37th Street $ 46.5
2,200
$ 8,525
Penn Plaza & Eighth Avenue $ 40
1,800
$ 6,000
Fifth Ave & East 35th Street $ 40
2,100
$ 7,000
W 36th St & Between Eighth Avenue $ 38
2,400
$ 7,600
Address $ / SF / Yr SF Monthly Rent
W 35th St & Seventh Avenue $ 33
7,500
$ 20,625
W 30th St & Fifth Avenue $ 30
7,100
$ 17,750
W 36th St & Eighth Avenue $ 33
7,800
$ 21,450
Address $ / SF / Yr SF Monthly Rent
Penn Plaza & West 30th Street $ 48
2,500
$ 10,000
W 38th St & Eighth Avenue $ 35
4,400
$ 12,833
W 35th St & Seventh Avenue $ 35.5
5,300
$ 15,679
W 36th St & Eighth Avenue $ 50.5
3,700
$ 15,570
W 37th St & Ninth Avenue $ 40
4,500
$ 15,000
W 36th St & Avenue of the Americas $ 45
3,400
$ 12,750
W 30th St & Fifth Avenue $ 33
5,000
$ 13,750
Broadway & West 32nd Street $ 46.28
3,500
$ 13,498
Address $ / SF / Yr SF Monthly Rent
Penn Plaza & West 30th Street $ 47
2,000
$ 7,833
W 36th St & Eighth Avenue $ 49
2,400
$ 9,800
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
Broadway & West 41st Street $ 70.5
13,200
$ 77,550
Fifth Ave & West 38th Street $ 56.5
17,600
$ 82,866
Broadway & West 39th Street $ 59
10,900
$ 53,591
1 Plz & West 33rd Street $ 105
19,100
$ 167,125
W 40th St & Avenue of the Americas $ 74.5
8,500
$ 52,770
Address $ / SF / Yr SF Monthly Rent
Broadway & West 37th Street $ 67.5
5,500
$ 30,937
W 38th St & Avenue of the Americas $ 56
3,500
$ 16,333
Broadway & West 41st Street $ 65.5
6,800
$ 37,116
Broadway & West 36th Street $ 65.5
4,600
$ 25,108
2 & West 31st Street $ 140.5
5,300
$ 62,054
Fifth Ave & West 38th Street $ 61
3,800
$ 19,316
1 Plz & West 33rd Street $ 105
3,200
$ 28,000
Address $ / SF / Yr SF Monthly Rent
Broadway & West 37th Street $ 67.5
2,300
$ 12,937
1 Plz & West 33rd Street $ 98
2,400
$ 19,600
Address $ / SF / Yr SF Monthly Rent
Eighth Ave & West 36th Street $ 40.5
7,500
$ 25,312
W 39th St & Eighth Avenue $ 40
7,700
$ 25,666
W 33rd St & Fifth Avenue $ 40.5
7,100
$ 23,962
Eighth Ave & West 35th Street $ 39
7,100
$ 23,075
Eighth Ave & W 35th Street $ 40
8,000
$ 26,666
W 37th St & Avenue of the Americas $ 46.5
8,600
$ 33,325
Tenth Ave & West 37th Street $ 49.5
7,900
$ 32,587
W 36th St & Sixth Avenue $ 46.5
9,600
$ 37,200
Broadway & West 38th Street $ 54
9,500
$ 42,750
Seventh Ave & West 37th Street $ 56
10,300
$ 48,066
Address $ / SF / Yr SF Monthly Rent
Seventh Ave & West 38th Street $ 52
3,100
$ 13,433
W 35th St & Avenue of the Americas $ 29
4,400
$ 10,633
Eighth Ave & West 36th Street $ 36
4,700
$ 14,100
Address $ / SF / Yr SF Monthly Rent
Eighth Ave & West 36th Street $ 42
2,200
$ 7,700
W 39th St & Ninth Avenue $ 39
1,800
$ 5,850
W 38th St & Fifth Avenue $ 35
2,200
$ 6,416
Eighth Ave & West 35th Street $ 35
1,700
$ 4,958
Tenth Ave & West 37th Street $ 44
2,200
$ 8,066
W 40th St & Eighth Avenue $ 47.5
1,900
$ 7,520
Broadway & West 38th Street $ 52
1,900
$ 8,233
7th Ave & Between Seventh Avenue $ 57
1,600
$ 7,600
Avenue of the Americas & West 39th Street $ 61
2,300
$ 11,691
Avenue of the Americas & West 31st Street $ 79
2,400
$ 15,800
Address $ / SF / Yr SF Monthly Rent
W 35th St & Seventh Avenue $ 40.5
8,800
$ 29,700
W 39th St & Eighth Avenue $ 36
9,200
$ 27,600
Eighth Ave & West 36th Street $ 42
16,000
$ 56,000
W 35th St & Seventh Avenue $ 35
7,600
$ 22,166
Eighth Ave & West 39th Street $ 41
11,400
$ 38,950
Address $ / SF / Yr SF Monthly Rent
W 35th St & Seventh Avenue $ 40
3,900
$ 13,000
W 35th St & Eighth Avenue $ 33.5
3,300
$ 9,212
Seventh Ave & West 30th Street $ 35
3,800
$ 11,083
W 38th St & Fifth Avenue $ 39
2,700
$ 8,775
Eighth Ave & West 36th Street $ 40.5
5,800
$ 19,575
Address $ / SF / Yr SF Monthly Rent
W 35th St & Seventh Avenue $ 35.5
2,300
$ 6,804
W 38th St & Eighth Avenue $ 36.46
2,100
$ 6,380
W 39th St & Eighth Avenue $ 39.5
1,600
$ 5,266
Eighth Ave & West 36th Street $ 38
1,600
$ 5,066
W 32nd St & Ninth Avenue $ 50
1,800
$ 7,500
W 32nd St & Broadway $ 43
2,100
$ 7,525

Retail Spaces for Rent at 240 W 40th St

Rent Retail 240 W 40th St

Rent Medical Space at 240 W 40th St

Office Tenants Rented / Leased 240 West 40th Street
  • Security Preparation & Placement Inc. leased 4,000 SF
  • Sean Johnson Interior Design leased 4,000 SF
  • DKNY leased 143,800 SF
  • PF Chang's To Go leased 3,800 SF
  • Westside Donut Albany V… leased 500 SF
  • Xomox Jewelry Inc leased 13,500 SF
  • Dim Sum Place leased 4,900 SF
  • Machine leased 3,450 SF
Retail Tenants Rented / Leased 240 West 40th Street
  • PF Chang's To Go leased 3,800 SF
  • Taco Bell Cantina leased 2,420 SF
Nearby Office Tenants Leased
  • W. W. Norton & Company leased 95,000 SF at 500 Fifth Avenue
  • American Society of Composers, Authors and Publishers leased 85,400 SF at 250 West 57th Street
  • Spring Global leased 80,000 SF at 104 West 40th St
  • Complex Networks leased 80,000 SF at 229 West 43rd Street
  • Kasper leased 77,413 SF at 1412 Broadway
  • Morgan Stanley DW leased 75,440 SF at 1221 Avenue of the Americas
  • Times Square Grey Entert… leased 70,500 SF at 1500 Broadway
  • Ion Media Networks, Inc. leased 68,786 SF at 810 Seventh Ave
  • Nixon Peabody LLP leased 66,297 SF at 55 West 46th Street
  • WeWork leased 66,163 SF at 311 West 43rd St
Nearby Retail Tenants Leased
  • Pret A Manger leased 3,889 SF at 1071 Avenue of the Americas
  • Ricky's leased 3,500 SF at 550 Fifth Ave
  • Fossil leased 3,241 SF at 1585 Broadway
  • Pringles leased 3,215 SF at 1450 Broadway
  • Bobby Van's Steakhouse leased 3,150 SF at 120 West 45th St
  • Princi leased 2,864 SF at 1633 Broadway
  • Satya Eastern Kitchen leased 2,700 SF at 750 Eighth Ave
  • Dos Toros leased 2,600 SF at 114 West 41st Street
  • Starbucks leased 2,600 SF at 1700 Broadway
  • Chop?t Creative Salad Company leased 2,030 SF at 1285 Sixth Ave
$ / SF SF Monthly Rent
Please notify me when a new space is available
Tenant Broker’s Perspective: Return-to-office mandates are driving up rental prices at 240 West 40th Street. This trend is projected to continue. Opportunities for subleases remain available at 240 West 40th Street and in the nearby Penn Plaza/Garment neighborhood.
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240 West 40th Street nyc
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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

240 West 40th Street Property Overview

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.

Office Tenants Rented / Leased 240 West 40th Street
  • Security Preparation & Placement Inc. leased 4,000 SF
  • Sean Johnson Interior Design leased 4,000 SF
  • DKNY leased 143,800 SF
  • PF Chang's To Go leased 3,800 SF
  • Westside Donut Albany V… leased 500 SF
  • Xomox Jewelry Inc leased 13,500 SF
  • Dim Sum Place leased 4,900 SF
  • Machine leased 3,450 SF
Retail Tenants Rented / Leased 240 West 40th Street
  • PF Chang's To Go leased 3,800 SF
  • Taco Bell Cantina leased 2,420 SF
Nearby Office Tenants Leased
  • W. W. Norton & Company leased 95,000 SF at 500 Fifth Avenue
  • American Society of Composers, Authors and Publishers leased 85,400 SF at 250 West 57th Street
  • Spring Global leased 80,000 SF at 104 West 40th St
  • Complex Networks leased 80,000 SF at 229 West 43rd Street
  • Kasper leased 77,413 SF at 1412 Broadway
  • Morgan Stanley DW leased 75,440 SF at 1221 Avenue of the Americas
  • Times Square Grey Entert… leased 70,500 SF at 1500 Broadway
  • Ion Media Networks, Inc. leased 68,786 SF at 810 Seventh Ave
  • Nixon Peabody LLP leased 66,297 SF at 55 West 46th Street
  • WeWork leased 66,163 SF at 311 West 43rd St
Nearby Retail Tenants Leased
  • Pret A Manger leased 3,889 SF at 1071 Avenue of the Americas
  • Ricky's leased 3,500 SF at 550 Fifth Ave
  • Fossil leased 3,241 SF at 1585 Broadway
  • Pringles leased 3,215 SF at 1450 Broadway
  • Bobby Van's Steakhouse leased 3,150 SF at 120 West 45th St
  • Princi leased 2,864 SF at 1633 Broadway
  • Satya Eastern Kitchen leased 2,700 SF at 750 Eighth Ave
  • Dos Toros leased 2,600 SF at 114 West 41st Street
  • Starbucks leased 2,600 SF at 1700 Broadway
  • Chop?t Creative Salad Company leased 2,030 SF at 1285 Sixth Ave

Lempert Brothers Intl USA. Testimonial

Lempert Brothers Intl USA. testimonial To Whom It May Concern: We had the pleasure of working with Stephen Sunderland months ago when we were in search of new office space for our growing company. He was of great assistance with all the questions we had about today's real estate market. His accurate analysis of the market and the time he took to listen and understand our motivations was a great advantage We required an office building that would allow us to expand and support all of our companies needs. Stephen Sunderland walked us down every road we needed to go and many times paved the way making it easier on us than could have been expected. He advised us and guided us through all the steps. He worked with us closely and made sure that he knew exactly what we were looking for. He provided us with real estate options and solutions that would save us both money and time down the road as our company grew. His dedication and commitment to his clients are rare commodities in today's self-interested world. If you see fit to give him a chance to serve you, we guarantee, you'll never look for another real estate agent. Without reservation, we strongly recommend the services of Stephen Sunderland and would most definitely work with him again, if his assistance is called for. If we could further assist you, please do not hesitate to contact us. Sincerely, S. George Miller President

Office Buildings in Penn Plaza/Garment

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Commercial space for lease
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.
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