Demonstrating the continued rise of small leases across Manhattan, serving as the powerhouse behind the rebound of the commercial real estate market. Adams & Company announced the signing of five new leases totaling 6,986 square feet at 110 West 40th Street.
Legal Benchmarking US LLC signed a 2,574-square-foot lease for general and executive office use. The asking rent was $69 per square foot. Valence Management LLC signed a 925-square-foot lease for general and executive office use. The asking rent was $69 per square foot. Patlytics, an AI-native platform built to reduce cycle times, increase margins and deliver winning IP outcomes at scale, signed a 925-square-foot lease for general and executive office use. The asking rent was $79 per square foot.
Bluepath Health Inc., a healthcare consulting firm specializing in strategic planning, policy and implementation, signed a 913-square-foot lease for general and executive office use. The asking rent was $69 per square foot. Jiudine Apparel Trading LLC, a global garment manufacturer and supply chain company, signed a 1,649-square-foot lease for general and executive office use. The asking rent was $71 per square foot.
David Levy, Brett Maslin and Jack Tobin of Adams & Company represented the landlord, 110 West 40 Holdings LLC, in all deals. Pier Forty Six, Inc represented the Legal Benchmarking US LLC in the transaction.
“The continued demand for smaller office spaces in Midtown is playing a significant role in Manhattan’s leasing,” said Levy, principal at Adams & Company. “Tenants are gravitating toward centrally located buildings that provide accessibility, efficiency and value, and 110 West 40th Street continues to meet those needs. These deals are representative of the healthy activity we are seeing among businesses seeking flexible footprints in highly connected neighborhoods.”
