R.F. Lafferty & Co. Finds a Historic Yet Affordable Home at 40 Wall Street

  • Company: R.F. Lafferty & Co.

  • Building: 40 Wall Street

  • Lease Term: 9 months

  • Lease Type: Sublease

  • Delivery conditions: Turnkey

  • Landlord: Trump Organization

The Challenge

R.F. Lafferty & Co., a respected financial services and stock brokerage firm led by Rob Hackel, sought to upgrade from a coworking suite to a private office in New York’s Financial District. The firm wanted to remain connected to the history and prestige of Wall Street, with a space that felt timeless and professional—but without the inflated costs often associated with such landmark addresses.

Adding complexity, they preferred to stay within the very same building where they had been operating from a coworking space, making continuity a top priority. Their goals included securing a historic location, finding a move-in-ready suite with classic design, and ensuring reasonable rent terms.

The Solution

An opportunity presented itself at 40 Wall Street, where a short-term sublease had quietly hit the market. With less than one year remaining on the lease, the sublandlord wasn’t expecting much tenant interest—yet the availability matched R.F. Lafferty’s needs perfectly in terms of both size and location.

By seizing this moment, we negotiated a sublease at just $18 per RSF, an unprecedented discount in a building that typically commands mid-$50s/RSF. The space came move-in ready, offering the classic appeal Lafferty sought while avoiding the “tired” feel of some older offices in the district.

The Outcome

R.F. Lafferty & Co. successfully transitioned into their first private suite in the same prestigious building, maintaining continuity for clients and staff while dramatically lowering costs. The sublease not only satisfied their immediate need for a more professional environment but also demonstrated the value of market timing and strong landlord/tenant negotiations.

At nearly one-third of the typical rent, the deal represents one of the most competitive opportunities in the Financial District—a rare case where history, prestige, and value aligned seamlessly.

Update: Extending Their Stay

Following an initial sublease at 40 Wall Street secured at an exceptional discount due to its short term, R.F. Lafferty & Co. aimed to remain in the same space — this time on a direct lease with the landlord. As market rates in the building had since climbed considerably, the challenge was to once again negotiate favorable terms and maintain cost efficiency without relocating.

By engaging directly with the Trump Organization and offering to renew as-is, with no additional landlord work, R.F. Lafferty & Co. successfully achieved a new direct lease at a discounted rate. The result was a seamless transition from subtenant to direct tenant, locking in long-term stability in the same space under highly favorable economic terms.

New Terms

Leasing Term: 3 + Years

Leasing Type: New Direct Lease

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