Avison Young team, Hecht of Cushman & Wakefield and Plehn of Cresa secure 12,000 s/f lease for Tesley + Co.

1501 Broadway - Manhattan, NY

New York, NY According to Avison Young, Telsey + Co. will relocate to the Paramount Building with the signing of a 10-year lease at the 33-story office property at 1501 Broadway, between 43rd and 44th Sts.

The Avison Young team, led by principal and Tri-State president Arthur Mirante, II and principal Michael Gottlieb represented building ownership, while Cushman & Wakefield (C&W) director Seth Hecht and Cresa senior vice president Richard Plehn represented Telsey + Co. in the 12,000 s/f lease.

 Telsey + Co., a casting services organization founded in 1988 covering film, television, theatre, commercials and dance – has worked on many noteworthy projects including Hamilton, Wicked, Kinky Boots, On Your Feet, Fiddler on the Roof, Rent, Rocky Horror Picture Show and Sweeney Todd.

“With its rich history as home to both the Paramount Theatre and Paramount Pictures, one of the 20th century’s first major motion picture companies, the Paramount Building is a compelling headquarters location for companies that operate within the entertainment industry,” Mirante said. “The building, which is undergoing large-scale capital improvements, presented Telsey + Co. with an inviting workplace that meets all of their corporate needs. With a fit-out that includes several large casting rooms, the fifth-floor space will support the continued success of the award-winning agency.”

 Located in the heart of Times Square, 1501 Broadway offers easy access to transportation hubs including Port Authority, Penn Station, Grand Central Terminal Station and numerous subway lines. Currently, the 800,000 s/f building is completing a $50 million major capital improvement program, which includes replacing all the windows and elevators, upgrades to the common corridors and bathrooms, and a new multi-story early Art Deco building lobby relocated to 43rd St. Other notable theatre companies that recently relocated to the Paramount Building include the Nederlander Organization and Second Stage Theatre.

Avison Young is one of the world’s fastest-growing commercial real estate services firms. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,100 real estate professionals in 75 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.