Witkoff moving HQ to LeFrak building in Plaza District

Developer takes 21k sf at 40 West 57th St.

New York /
Nov.November 20, 2014 01:00 PM

Steve Witkoff is shifting shop to the LeFrak Organization’s 40 West 57th Street in The Plaza District, The Real Deal has learned.  

The Witkoff Group just signed a 10-year, 21,000-square-foot lease, according to data from CompStak. It will be moving from its current 9,400-square-foot space at 130 East 59th Street.

“The building was centrally located, and most importantly, owned and managed by one of the most professional and respected families in the business,” Witkoff told TRD. “When I called Richard (LeFrak) up to discuss the deal, he picked up the phone immediately. That’s how I do business and that’s the type of ownership where I want my headquarters to be.”

The developer will pay rents in the $80s per square foot, CompStak data show. Newmark Grubb Knight Frank’s Lance Korman represented Witkoff, while CBRE’s Arkady Smolyansky represented LeFrak. Witkoff is also looking to sublease its current 15th-floor space at 130 East 59th Street, which has seven years remaining on the lease. Korman has that listing.

Witkoff currently has a full slate of development projects, including a condo conversion at one of the former International Toy Center buildings on Madison Square Park and a mixed-use glass tower planned for 20 Times Square.


Related Articles

arrow_forward_ios
Steve Witkoff of Witkoff Group, Len Blavatnik of Access Industries and the XI (Getty, TheXI)
Witkoff and Access Industries buy HFZ’s languishing XI condo project
Witkoff and Access Industries buy HFZ’s languishing XI condo project
Here are the top five largest project plans in NYC in 2021
These were the five largest development plans filed in NYC in 2021
These were the five largest development plans filed in NYC in 2021
The Real Deal’s Erin Hudson with Property Markets Group’s Kevin Maloney, Crescent Heights’ Russell Galbut, Kushner Companies’ Nikki Kushner Meyer and Witkoff Group’s Steve Witkoff
WATCH: National developers talk location scouting at TRD event
WATCH: National developers talk location scouting at TRD event
The Real Deal's Erin Hudson with Property Markets Group's Kevin Maloney, Crescent Heights' Russell Galbut, Kushner Companies' Nikki Kushner Meyer and Witkoff Group's Steve Witkoff
Witkoff, Kushner, PMG, Crescent Heights talk strategy at TRD’s Miami event
Witkoff, Kushner, PMG, Crescent Heights talk strategy at TRD’s Miami event
From the rubble: How NYC real estate lived 9/11
From the rubble: How NYC real estate lived 9/11
From the rubble: How NYC real estate lived 9/11
Witkoff Group CEO Steve Witkoff, Simon and David Reuben and The West Hollywood Edition (Getty, Witkoff)
Reuben brothers look to foreclose on Witkoff’s West Hollywood Edition
Reuben brothers look to foreclose on Witkoff’s West Hollywood Edition
Steven, Lauren and Zach Witkoff with the Ritz-Carlton Residences, Miami Beach (Getty, Witkoff, Ritz Carlton)
Witkoffs buy condos at Ritz-Carlton Residences in Miami Beach
Witkoffs buy condos at Ritz-Carlton Residences in Miami Beach
Howard Lorber and Steve Witkoff (Getty, iStock)
Lorber, Witkoff launch $250M SPAC
Lorber, Witkoff launch $250M SPAC
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...