Hilton Hotels & Resorts signs long-term lease in Union Square

Manhattan, NY JLL has leased 13,619 s/f on the sixth floor at 838 Broadway, a landmarked property owned by ZG Capital Partners, to Hilton Hotels & Resorts.

Hilton Hotels & Resorts has a portfolio of 24 brands and boasts more than 8,600 properties and 1.3 million rooms across 139 different countries. It has welcomed more than three billion guests in its 100-plus year history and has introduced industry-leading technology enhancements to improve its guests’ experience, such as digital key sharing and automated complimentary room upgrades. 

Originally designed by Stephen Decatur Hatch in 1876, 838 Broadway was built on the site of President Theodore Roosevelt’s great-great uncle James T. Roosevelt’s home. The building’s original cast-iron façade and Néo-Grec detailing provided inspiration for a reimagining of the property.

Ownership engaged architecture firm SpectorGroup in 2023 to execute a gut renovation of the 80,000 s/f boutique asset to preserve the authentic, landmarked materials while elevating the interiors with modern finishes, along with new mechanicals and infrastructure throughout the entire building. 

The renovation included new storefronts on both Broadway and 13th Street, an expanded lobby featuring the addition of a second elevator and blending the building’s architectural heritage with contemporary office culture. The building features extraordinary ceiling heights ranging from 13 to 26 ft. Asking rents throughout the building are currently $100 - $130 per s/f.

Union Square has evolved into one of New York City's premier hubs for technology, creative, venture capital, and AI companies, drawn to the neighborhood’s unique position at the intersection of talent, amenities and transportation.  Demand for creative, modern workspace environments is being met by properties such as 838 Broadway and nearby buildings including 799 Broadway, Zero Irving, and 817 Broadway where leading tenants include Sequoia Capital, digital training firm Civic Hall, Bain Capital and retail marketing leader Barrows Global.

A JLL team led by vice chairmen Mitchell Konsker and Benjamin Bass represented ZG Capital Partners in the Hilton lease. Vice chairman Jeff Groh, executive managing director Greg Wang, managing director Dan Evans and vice president Thomas Swartz represented the tenant, who signed a 10-year lease for the entire sixth floor at 838 Broadway.

Konsker said, “We’re thrilled to welcome Hilton to this historic office property. Ownership’s vision to revitalize 838 Broadway with fresh design elements and modern finishes helped create a first-class office environment for contemporary space users.”