LeFrak signs Nautica owner to 100K sf renewal in Midtown

Richard Lefrak And 40 West 57th Street
Richard Lefrak And 40 West 57th Street

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.

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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