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Madison International Realty Secures Four New Leases at Tower 40

Tower 40 — a 431,350-square-foot Manhattan office space — recently signed agreements for four new leases totaling roughly 47,160 square feet. Formerly known as Chase Tower, the property is located at 10 E. 40th St. and is currently owned by Madison International Realty in partnership with Joseph P. Day Realty.

The largest of the four deals is for architecture firm Hart Howerton’s 27,111 square feet on the 37th and 39th floors of the office tower. The company extended its stay in the building for an additional 13 years and six months.

The landlords were represented by Ethan Silverstein, Theodora Livadiotis and Caroline Collins of Cushman &Wakefield, with Ryan Alexander and Tim Freydberg of CBRE conducting negotiations on behalf of Hart Howerton.

The other companies added to Tower 40’s roster include investment firm Alpha Square Group, which will occupy 8,769 square feet on the 35th floor; Italian fashion house Missoni, which leased 3,800 square feet of penthouse space on the 48th floor; and a multinational tire manufacturer that took 7,480 square feet on the 41st floor.

Alpha Square Group was represented by Cushman & Wakefield’s Evan Algier and Stephan Langton, while Diego Rodino di Miglione — also from Cushman — brokered the deal on behalf of Missoni.

“In this challenging office environment, the new tenants at Tower 40 constitute a positive indicator that demonstrates the continuing appeal of quality buildings in Midtown,” said Diana Shieh, managing director at Madison International Realty. “We believe the rebrand conveys the extent to which this historic building is being modernized with the infrastructure and services that tenants demand.”

“We are very gratified with the leasing success at Tower 40 and the prestigious roster of tenants we have been able to attract to this premier building in one of the most trafficked areas of Midtown,” said Larry Wohl of Joseph P. Day Realty. “We have found that discerning companies still desire the convenient urban location that Tower 40 offers, with proximity to Grand Central, Bryant Park and major hotels.”

Designed by Ludlow & Peabody and built in 1929, Tower 40 is currently undergoing renovations that include a fully upgraded lobby, as well as improvements to common areas.

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