The LeFrak Organization has signed clothing manufacturer VF Corporation to a 100,000-square-foot renewal deal at 40 West 57th Street.
VF, which owns brands such as Nautica and Kipling, will downsize its presence at the 34-story, 712,000-square-foot building from roughly 125,000 square feet, a leasing executive at LeFrak told The Real Deal.
Cushman & Wakefield’s Dan Preate and Ed Donnery represented VF in the transaction, the New York Observer reported, while their colleague Charles Borrok represented the landlord.
LeFrak CEO Richard LeFrak topped a recent list of the city’s biggest real estate moguls, with a personal net worth of $4.9 billion. [NYO] – Hiten Samtani