Manhattan, NY Newmark in coordination with 1501 Broadway ownership have unveiled new enhancements of this asset and the next phase of its exciting capital improvement plan. Ownership unveils a series of prebuilt units, brand new turn-key options and new corridors designed by MKDA, and names Newmark’s Matthew Leon, Stephen Gordon, Andrew Margolin and Nathan Kropp as the leasing agents for the reimagined 850,000 s/f property.
Rosemark Management, Levin Management and Newmark collaborated with MKDA to create a pre-built suite campaign that reflects the latest design sensibilities while paying homage to the Art Deco history of the landmarked building. In addition to the upgraded design, the new prebuilt suites, ranging in size from 1,000 s/f to 45,000 s/f, will feature the latest COVID-19 safety measures and protocols. New turn-key options also include full-floor boutique tower suites with views ranging in size from 2,000 to 3,500 s/f.
“This is an iconic building with a rich history and character that has been upgraded to embrace its art deco past in a modern, forward-thinking fashion,” said Leon of Newmark. “Tenants will appreciate the efficient layouts and hospitality design focus in a storied property that is conveniently located and well-priced.”
Gordon said, “These new suites represent the highest value proposition of any building in Midtown.”
1501 Broadway’s landmarked exterior is known for its four-faced clock topped by an ornamental glass globe, and its iconic marquee facing Times Sq. Beginning in 2018, ownership kicked off a $50 million capital improvement project with enhancements including a new lobby that was relocated from Broadway to 43rd St., new operable windows throughout the building, new elevators and escalators, upgraded common corridors and restrooms and the installation of Macchiato Espresso & Wine Bar as a food, drink and lounge amenity for tenants.
“This property has been under family ownership for over 50 years and we continue to meaningfully reinvest in the building to maintain its standing as an integral part of the New York City fabric,” said Charlie Rosenberg of Rosemark Management. “We leased over 30,000 RSF this past year to new tenants Gumley Haft, AAMI and Goldberg Miller & Rubin.” Matthew Harding of Levin Management said, “We believe that the new and updated office spaces will continue to attract long-term discerning tenants who value 1501 Broadway’s history, transit-oriented location and modernized art deco design.”