A $150 million repositioning at 1540 Broadway in Times Square is already driving strong office leasing activity. Importantly, the project will not be fully completed until early 2027.
The 750,000-square-foot office tower is being modernized to attract tenants seeking premium workspace in Midtown Manhattan. As a result, demand for repositioned office space continues to rise in this highly visible location.
Recently, Pandora Jewelry LLC expanded its office footprint at 1540 Broadway. Consequently, the company doubled its space to 55,872 square feet within the tower.
Additionally, Woori Bank New York Agency signed a lease for 18,553 square feet at the property. Previously, the bank’s offices were located at 245 Park Avenue in Midtown Manhattan.
Following these transactions, the tower’s office floors are now approximately 50% leased. Meanwhile, leasing activity continues to increase for the remaining available office space.
Looking ahead, ownership expects leasing momentum to continue throughout the year. Ultimately, the building is projected to reach approximately 80% leased by the end of the second quarter.
About CORFAC International – New York
CORFAC International – New York, an extension of CORFAC International delivers over 90 years of Expertise for Commercial Real Estate in the Greater NY Metro Area. Comprised of a partnership of WCRE & Chilmark Real Estate Services, CORFAC International – New York provides practical guidance, analyzes crucial transaction details for optimal workspaces and deals, by leveraging market knowledge to drive client success. As committed advocates, we deliver measurable results, serving global clients with expert advisory and property management. We match your dedication with proven expertise.
