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54 W 40th St

Garment District, New York, NY
Floors
11
Total Size
50,000 sqft
Lot Size
0 acres
Year Constructed
1903
Year Renovated
2012
Number of Buildings
1

Features

Lobby Attendant
Close To Public Transit

About 54 W 40th St

The grand building at 54 W 40th Street, New York, was built in 1903. An 11-story mid-rise building in the heart of the Garment District, the property offers close to 50,000 square feet of commercial office and retail space for rent.

The entire building exudes turn-of-the-20th-century glamour, from the ornate Neo-Classical exterior to the sumptuous main lounge, with its rich oak trim, and fireplaces at each end. Formerly the Republican Club headquarters, the interior has splendid period details, including elegant crown molding, magnificent Corinthian pillars, and a sweeping grand staircase with white wrought iron railing.

Office space has been contemporized with state-of-the-art operating and communications systems. Oversized windows allow excellent natural light and superb views of the city skyline, as well as of Bryant Park, which is right across the street. Above average finishes, both modern and historical, are found throughout.

The bottom three floors, including a basement, encompass a total of 13,000 square feet, and have been offered as retail space for restaurant use. The exquisite building is a prime location to operate an upscale restaurant, which would cater to the white-collar workforce of Midtown, as well as to the constant flow of shoppers, tourists, and theater patrons in the area.

The white stone building has imposing columns on the two-story base, and sumptuous wrought iron balustrades. Mass transit access is excellent, with the B, D, F, M, and 7 trains steps away at Bryant Park; the 4, 5, 6, 7, and S trains at Grand Central Station, a few blocks to the east; and the N, Q, R, and 7 trains a few blocks to the west at Times Square. Prime location and premium office and retail space make this a commercial offering that is not to be missed.

Internet Providers for 54 W 40th St

Provider Technology Max Download Speed Max Upload Speed
Lightower Fiber
10 Gb/s
10 Gb/s
Level 3 Communications Fiber
10 Gb/s
10 Gb/s
Cablevision/Lightpath Fiber
10 Gb/s
10 Gb/s
RCN Cable
1 Gb/s
25 Mb/s
Time Warner Cable Cable
100 Mb/s
6 Mb/s
MegaPath DSL
50 Mb/s
50 Mb/s
Verizon New York DSL
10 Mb/s
1.5 Mb/s

The Neighborhood: Garment District

Most listings are in the $60's per square foot per year. The Garment District region is experiencing a decrease in rates. In the last 3 months, the median rate fell $1 per sqft per year. That's a 2% decrease in rent.

Compared to the rest of the New York City market, the Garment District submarket has less expensive rates, so you should have no trouble finding a great deal in this undervalued region.

Median Rate Median Size
Garment District $61
/sqft/yr
2,400
sqft
Median Rate Median Size
New York City $66
/sqft/yr
3,330
sqft

Median Rate over Time in Garment District