Toqueville Asset Management Inks Expansion at 40 West 57th Street

October 9, 2012

Lance Leighton

Founder – HedgeFundSpaces.com
New York State Licensed Real Estate Salesperson

Call 516-557-1160

Touqueville Asset Management, a money manager that has been in business since 1985, recently inked a 11,513 sf expansion at 40 West 57th Street.  The firm, who already encompasses the entire 19th floor, leased the southernmost portion of the 18th floor for eight years and seven months.  Asking rents were reportedly about $80 per square foot.  The landlord still has the northern portion of the floor available- which offers incredible views of Central Park.

“40 West” is home to many large name financial companies, including Elliott Management and Duquesne (the hedge fund formerly ran by Stanley Druckenmiller and now his family office).  The building is owned by the LeFrak Organization and boasts NoBu West and a parking garage in the base.

According to Arkady Smolyanksy, a representative for the LeFrak Organization at CBRE, ownership is in the process of rolling out a “pre-built” program for the building.  In other words, the landlord is going to divide the entire 14th floor into 5 smaller units, and they will be highly appropriate for boutique financial services companies.  The finishes will be to a very high standard and similar to 510 Madison Avenue- one of the premier buildings in the Plaza District.  Pricing has yet to be announced.  If interested in these pre-builts, or any other office spaces, please feel free to request a free custom space report.

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