GFP Real Estate and BDT & MSD Partners complete repositioning of 907,000 s/f tower

Manhattan, NY GFP Real Estate and BDT & MSD Partners (BDT & MSD) have completed a full repositioning of 1540 Bdwy. in Midtown. With design led by award-winning architecture and interior design firm Fogarty Finger, the project will reintroduce the 907,000 s/f Class A tower as one of the most modern, intelligently amenitized office buildings in Midtown. Financing is being provided by affiliates of Apollo.

“Our shared vision is to create a workplace that is purposeful, well-crafted and thoughtfully executed, raising expectations for what defines a leading New York City office tower,” said Brian Steinwurtzel, co-CEO and principal of GFP Real Estate. “This is a full reintroduction of the building. With meaningful capital investment and Fogarty Finger’s design leadership, 1540 Bdwy. will emerge as one of Midtown’s most distinctive and high performing office environments.”

Fogarty Finger’s redesign will apply a modern material palette to establish a cohesive design throughout the tower, drawing inspiration from high-end hospitality and luxury residential properties. The use of organic materials, controlled lighting and layered textures will create an environment that feels inviting throughout the workday and encourages connection. The transformation is intended to reframe the original tower, designed by David Childs of Skidmore, Owings & Merrill and completed in 1990.

“Today’s tenants expect more than traditional office space – they want environments that support their teams, enable productive collaboration and offer a higher quality day-to-day experience for employees and clients,” said Clark Finney, executive managing director at JLL. “The market is clear: companies are choosing workplaces that improve how people work, meet and connect. Buildings that achieve that standard are the ones attracting the most interest in today’s market.”

Floor plates at 1540 Bdwy. range from 18,000 to 28,000 s/f, accentuated by floor to ceiling windows that flood spaces with natural light. The redesign will introduce a more flexible approach to space planning, allowing tenants to build efficient layouts with broad sightlines that take advantage of the building’s multiple exposures and 13-ft. slab heights. Large blocks of available contiguous space – up to 250,000 s/f – make the building especially well-suited for larger companies including law firms, bioengineering and life sciences companies and established tech and financial firms.

Plans include more than 45,000 s/f of amenities across two levels of the building. On the eighth floor, a 27,000 s/f amenity hub will bring together upgraded wellness facilities, including a reimagined fitness center, new locker rooms and a recovery and movement zone, along with social and collaborative spaces that support productivity and balance throughout the day.

On the 36^th floor, the redesign will introduce an 18,500 s/f executive lounge for tenants with skyline views, a refined bar and dining area, and a landscaped terrace measuring 6,200 s/f. The floor will be designed to accommodate private meetings, high touch client interactions and leadership gatherings.

“We believe high-quality office assets in strong markets will continue to outperform over time, particularly when backed by experienced ownership and targeted investment,” said Jason Kollander, partner at BDT & MSD. “This repositioning reflects our long-term commitment to 1540 Bdwy., our conviction in New York City and our excitement around the team’s vision to deliver space that aligns with how companies work today.”

The project is backed by $150 million in new capital. These commitments ensure that the transformation is fully capitalized and the partnership is able to execute at the highest standard. GFP Real Estate will oversee operations with BDT & MSD and Apollo supporting long-term capital planning. Jones Lang LaSalle will serve as the exclusive leasing agent for the building. Renovations are expected to be complete by late 2026.

“Our continued support of 1540 Bdwy. reflects our confidence in the building’s long-term potential and in the vision of GFP Real Estate and BDT & MSD,” said Apollo partner Ben Gray. “This comprehensive repositioning is consistent with our thesis that high-quality office assets with well-capitalized sponsors are positioned to attract tenants seeking differentiated workspace.”

1540 Bdwy.’s central location provides outstanding transit access with immediate connections to most major subway lines, as well as convenient links to Grand Central Terminal, Penn Station/Moynihan Train Hall and the Port Authority. The building is steps from Bryant Park, world-famous restaurants, major retailers and the headquarters of leading companies. Current office tenants at 1540 Bdwy. include Pandora, Adobe and Schrödinger.