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Rent Office 240 West 40th Street

$ / SF SF Monthly Rent
Negotiable
17,100
Negotiable
$ / SF SF Monthly Rent
$ 32
3,600
$ 9,750
$ 32
15,100
$ 40,895

Nearby Sublease office Spaces for Rent

Address $ / SF SF Monthly Rent
Penn Plaza & West 33rd Street $ 41
29,000
$ 99,083
Bryant Park & 6th Avenue $ 60
14,000
$ 70,000
Address $ / SF SF Monthly Rent
Broadway & West 36th Street $ 54
3,200
$ 14,266
Broadway & West 41st Street $ 55
4,700
$ 21,541
Fifth Ave & West 33rd Street $ 69
4,300
$ 24,725
Address $ / SF SF Monthly Rent
Broadway & West 41st Street $ 55
2,200
$ 10,083
Address $ / SF SF Monthly Rent
W 37th St & Avenue of America $ 34
10,200
$ 29,325
Address $ / SF SF Monthly Rent
W 37th St & 6th Avenue $ 35
3,500
$ 10,208
W 40th St & Eighth Avenue $ 40
2,600
$ 8,558
Seventh Ave & West 38th Street $ 45
5,200
$ 19,500
Address $ / SF SF Monthly Rent
Tenth Ave & West 37th Street $ 45
2,200
$ 8,250
Seventh Ave & West 38th Street $ 45
2,400
$ 9,000
Penn Plaza & Eighth Avenue $ 40
1,800
$ 6,000
Fifth Ave & East 35th Street $ 40
2,100
$ 7,000
W 36th St & Between 8th Avenue $ 36
1,600
$ 4,866
Address $ / SF SF Monthly Rent
Address $ / SF SF Monthly Rent
Penn Plaza & West 30th Street $ 46
2,500
$ 9,583
W 35th St & Between West 35th Street $ 34
5,300
$ 14,795
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 & Between West 30th Street $ 31
5,000
$ 12,916
W 36th St & Eight Avenue $ 34
6,000
$ 16,750
Broadway & West 32nd Street $ 46
3,500
$ 13,498
Address $ / SF SF Monthly Rent
Penn Plaza & West 30th Street $ 46
2,000
$ 7,583
Type of Space Class A/month Class B/month Class C/month
Windowed office/person $ 2100 $ 2095 $ 775
Interior office/person $ 1350 $ 1595 $ 525
Team Rooms $ 10100 $ 8845 $ 5025
Suites $ 20100 $ 12845 $ 7025

Nearby office Spaces for Rent

Address $ / SF SF Monthly Rent
Broadway & West 41st Street $ 70
13,200
$ 77,550
Fifth Ave & West 38th Street $ 56
17,600
$ 82,866
Broadway & West 39th Street $ 59
10,900
$ 53,591
1 Plz & West 33rd Street $ 105
19,100
$ 167,125
Bryant Park & Avenue of America $ 99
7,400
$ 61,050
Address $ / SF SF Monthly Rent
Broadway & West 37th Street $ 66
5,500
$ 30,250
W 38th St & Avenue of the Americas $ 56
3,500
$ 16,479
Broadway & West 41st Street $ 66
6,800
$ 37,400
Broadway & West 36th Street $ 66
4,600
$ 25,300
2 & West 31st Street $ 141
5,300
$ 62,275
Fifth Ave & West 38th Street $ 62
3,800
$ 19,475
1 Plz & West 33rd Street $ 105
3,200
$ 28,000
W 34th St & Between 7th Avenue $ 70
4,700
$ 27,416
Address $ / SF SF Monthly Rent
Broadway & West 37th Street $ 66
2,300
$ 12,650
1 Plz & West 33rd Street $ 98
2,400
$ 19,600
Address $ / SF SF Monthly Rent
Eighth Ave & West 36th Street $ 40
7,500
$ 25,312
W 39th St & Eighth Avenue $ 40
7,700
$ 25,666
W 33rd St & Fifth Avenue $ 40
7,100
$ 23,962
Eighth Ave & W 35th Street $ 40
8,000
$ 26,666
Tenth Ave & West 37th Street $ 50
7,900
$ 32,587
Broadway & West 38th Street $ 54
9,500
$ 42,750
Seventh Ave & West 37th Street $ 56
10,300
$ 48,066
7th Ave & Between 7th Avenue $ 56
7,800
$ 36,075
Eighth Ave & Between 8th Avenue $ 40
7,900
$ 26,004
W 36th St & Avenue of the Americas $ 44
10,000
$ 36,666
Broadway & West 39th Street $ 46
8,100
$ 30,712
Seventh Ave & Sixtenth Street $ 46
10,000
$ 38,750
Address $ / SF SF Monthly Rent
Seventh Ave & West 38th Street $ 52
3,100
$ 13,433
Eighth Ave & West 36th Street $ 36
4,700
$ 14,295
W 39th St & Ninth Avenue $ 39
3,500
$ 11,375
W 38th St & Between West 37th Street $ 39
2,600
$ 8,450
W 39th St & Eighth Avenue $ 40
2,700
$ 9,000
Fifth Ave & West 35th Street $ 50
3,700
$ 15,262
W 35th St & Eight Avenue $ 40
4,900
$ 16,129
Address $ / SF SF Monthly Rent
Eighth Ave & West 36th Street $ 40
2,200
$ 7,425
W 39th St & Ninth Avenue $ 39
1,800
$ 5,850
W 38th St & Between West 37th Street $ 35
2,200
$ 6,416
Eighth Ave & West 35th Street $ 35
1,700
$ 4,958
W 40th St & Eighth Avenue $ 46
1,900
$ 7,283
Broadway & West 38th Street $ 50
1,900
$ 7,995
7th Ave & Between 7th Avenue $ 56
1,600
$ 7,400
Avenue of the Americas & West 39th Street $ 61
2,300
$ 11,691
Avenue of the Americas & West 31st Street $ 78
2,400
$ 15,500
Eighth Ave & West 37th Street $ 37
1,700
$ 5,241
W 40th St & Avenue of America $ 72
1,600
$ 9,666
Address $ / SF SF Monthly Rent
W 35th St & Seventh Avenue $ 40
8,800
$ 29,333
W 39th St & Eighth Avenue $ 36
9,200
$ 27,600
Eighth Ave & West 36th Street $ 42
16,000
$ 55,333
Eighth Ave & West 39th Street $ 40
11,400
$ 38,475
W 35th St & Seventh Avenue $ 32
8,500
$ 22,666
Address $ / SF SF Monthly Rent
W 39th St & Seventh Avenue $ 35
4,700
$ 13,708
W 35th St & Eighth Avenue $ 34
3,300
$ 9,350
Seventh Ave & West 30th Street $ 35
3,800
$ 11,083
W 38th St & Between West 37th Street $ 40
2,700
$ 8,887
Eighth Ave & West 36th Street $ 41
5,800
$ 19,816
W 32nd St & Ninth Avenue $ 50
2,800
$ 11,550
W 37th St & Eight Avenue $ 32
5,400
$ 14,400
W 35th St & Seventh Avenue $ 37
4,400
$ 13,566
W 38th St & Eighth Avenue $ 39
3,500
$ 11,375
W 35th St & Between West 35th Street $ 35
5,600
$ 16,333
Address $ / SF SF Monthly Rent
W 35th St & Seventh Avenue $ 34
2,300
$ 6,516
W 39th St & Eighth Avenue $ 38
1,600
$ 5,066
Eighth Ave & West 36th Street $ 38
1,600
$ 5,066
W 32nd St & Ninth Avenue $ 48
1,800
$ 7,275
W 35th St & Between West 35th Street $ 35
2,100
$ 6,125
W 37th St & Ninth Avenue $ 37
1,900
$ 5,920
W 37th St & Eight Avenue $ 35
2,400
$ 7,000
Tenant Broker’s Perspective: office buildings being demolished or converted to residential 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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Lease 240 West 40th Street

Rent 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

240 West 40th Street Amenities

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 at 240 West 40th Street

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

240 West 40th Street Access

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.


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