News:
Brokerage
Posted: June 13, 2023
Steinberg of GFP Real Estate leases 2,463 s/f to Christie Lites Broadway at 1560 Broadway
Manhattan, NY GFP Real Estate, LLC said that Christie Lites Broadway, Inc. a provider of stage lighting and rigging equipment worldwide, has signed a 10-year lease for 2,463 s/f on the seventh floor 1560 Broadway in Times Sq.
Alan Steinberg of GFP Real Estate represented the landlord, 1560 Broadway Company LLC, and the tenant in the transaction.
“After occupying a WeWork space for the past seven years, Christie Lites Broadway wanted to create its own permanent, experiential space to host its clients and staff in as the company plans to increase its permanent staff in New York,” said Alan Steinberg, senior managing director of GFP Real Estate.
Christie Lites Broadway, Inc. plans to build out its new space to showcase its services and products.The office will be designed to provide lighting demonstrations and host small client and industry events; and will feature hot desk facilities for national and international staff and clients visiting New York.
Built in 1925 and designed by the Bethlehem Engineering Corp., 1560 Broadway is a historic, 17-story 271,000 s/f building in Times Sq. Home to Actors’ Equity, 1560 Broadway underwent major redevelopment in 2014 and was connected to the neighboring landmarked I. Miller Building by architects Rosen Johnson. The ambitious project included the addition of a monumental new office entrance, a 100-foot-long fourth floor sky lobby, and the opening of four contiguous floors of prime Times Sq. retail space, created by moving the original office entrance, to deliver significant street presence.
Positioned at the center of the Theater District, 1560 Broadway is a landmark of commerce that now takes an even more prominent place in this location, drawing people to world-renowned shows, major retailers, and a multitude of eateries. Numerous subway lines at nearby 42nd St-Times Sq., Rockefeller Center, 49th St. and Port Authority provide fast transportation links with all areas of Manhattan and beyond.
Tags:
Brokerage
MORE FROM Brokerage
Liberow and Benshar of Asset CRG Advisors arrange $18.1 million ground lease transaction for 358 Flatbush Ave. development site
Brooklyn, NY Asset CRG Advisors recently facilitated the disposition of 358 Flatbush Ave., a Brooklyn development site situated at the intersection of Park Slope and Prospect Heights overlooking Grand Army Plaza and Prospect Park.
Quick Hits
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
