Financial News Company Acuris Heads Uptown. Michael Mandel is Co-Founder and CEO of CompStak. Four tenants have signed new leases or expanded in the Paramount Building at 1501 Broadway between West 43rd and West 44th Streets in Times Square, Commercial Observer has learned. *Available to CompStak members and customers. Other major tenants in the building include the Hard Rock Cafe, coworking provider Regus, beauty school Christine Valmy, Social Service Employees Union Local 371 and law firm Goldberg Weprin. [6], With the spin-off of the theater units in 1950 as United Paramount Theatre, Inc. (UPT) the building became the UPT's headquarters being leased along with the theater from Paramount Pictures. The educational program inked a 15-year, 16,657-square-foot lease on the 11th floor. 1501 Broadway, also known as the Paramount Building, is a 33-story, 391-foot (119 m) office building on Times Square between West 43rd and 44th Streets in the Theater District neighborhood of Manhattan, New York City. Educational Tenants, Musicians Union and Engineers Ink Leases at Paramount Building. Stay updated with our latest creative transformations. The smallest of the deals was with EC New York, a school that offers English language classes to adults. View more property details, sales history and Zestimate data on Zillow. The theatre entrance at the front of the Paramount Building is marked by a five-story arch on Broadway with an elaborate curved marquee, which was restored in 2007. Read the latest edition of the Commercial Observer online! . KIPP—which is short for Knowledge is Power Program—is relocating from The New York Times Building at 620 Eighth Avenue. The school is relocating from nearby 1450 Broadway. CURRENT AVAILABILITIES. Completed in 1927, it once housed the Paramount Theatre. Image: Avison Young Four tenants have signed new leases or expanded in the Paramount Building at 1501 Broadway between West 43rd and West 44th Streets in Times Square, Commercial Observer has learned. Four tenants have signed new leases or expanded in the. KIPP—which is short for Knowledge is Power Program—is relocating from. oversaw the deal for EC and didn’t immediately respond to a request for comment. [4], Today, the Paramount Building is known for its large four-faced clock near the top of the pyramidal architectural feature, with the hours denoted by twelve five-pointed stars (forming a circle of stars as used in the Paramount Pictures logo), topped by an ornamental glass globe. , handled the deal on behalf of the tenant and didn’t immediately respond to a request for comment via spokespeople. Asking rents in the building range from low $50s in the base to low $70s in the tower. The second-largest deal was with a musicians labor union, the American Federation of Musicians of the United States and Canada. [4] At the outset of World War II, the globe and clock were painted black to maintain blackout conditions for fear of an enemy invasion;[3] they were restored in 1996.[4]. The Paramount Building is offering partial and full floor, pre-built and white-boxed spaces perfect for any tenant looking to move to the heart of New York City. This structure included a long grand lobby along the south end which opened into the auditorium facing a stage at the north end. Built in 1927, this 33 story office property spans 686,603 SQFT.CompStak has 44 lease comps for this property, dating from 2003 to 2020. Learn More. It was designated a New York City Landmark in 1988. The Plan: Paramount Building Undergoing a Modern Transformation. The lobby was modeled after the Paris Opera House with white marble columns, balustrades and an opening arms grand staircase. 1501 Broadway , Kerrville, TX 78028-6001 is currently not for sale. represented KIPP and didn’t immediately respond to a request for comment via a spokeswoman. [4], In 1922, Paramount Pictures had purchased the Putnam Building. Lend us your email, no spam, we promise. Nonprofit charter school operator KIPP Foundation finalized a 10-year, 18,680-square-foot lease for a space with a terrace on part of the 10th floor of the 33-story office building, according to landlord brokerage Avison Young. 1501 Broadway is located in New York, NY. The new lobby at 1501 Broadway. In addition, a large orchestra pit could be raised and lowered from the basement for theatric use. The second-largest deal was with a musicians labor union, the. Sign up for a CompStak account to access the full lease comparables at 1501 Broadway. 1501 Broadway, also known as the Paramount Building, is a 33-story, 391-foot (119 m) office building[2] on Times Square between West 43rd and 44th Streets in the Theater District neighborhood of Manhattan, New York City. [3] At the time of its completion, it was the tallest building in Times Square,[4] and once sported an observation deck. also inked a deal for 41,300 square feet there over the summer. , a school that offers English language classes to adults. “It’s gratifying to witness how ownership for 1501 Broadway is reaping the benefits of the transformative capital improvement program and repositioning plan they executed for this historic asset,” Mirante said in a statement. He graduated Babson College in 2005, where he led the Babson Entrepreneurial Exchange and was a member of the world's first live-in business incubator, the e-tower. [4] A long gallery passed from there through the office building to reach the theatre itself, which occupied the rear of the building which extends through the middle of the block between 43rd and 44th streets. Cushman & Wakefield represented them in the transaction. On the morning of March 6, 2008, an unknown individual placed a small bomb in front of a United States Armed Forces recruiting station across Seventh Avenue from the building. Paramount Pictures, one of the major American motion picture companies in the 1920s, built its headquarters at the 1501 Broadway location along with a cinematic theatre. 1501 Broadway-Lobby Positioning: Interior/Tenant Best Project 2018. Construction of the building began on November 1925. The group, which is the largest organization in the world that represents professional musicians, renewed its lease for a 15-year term and relocated from a smaller space on the sixth floor to 18,332 square feet on the entire ninth floor. and other investors. Before starting CompStak, Michael led the NY metro data center practice for Grubb & Ellis, where he was named National Rookie of the Year and inducted into Real Estate New York’s 30 Under 30. Balaban and Katz had a long working relationship with the Chicago architectural firm Rapp and Rapp (C. W Rapp and George L. Rapp),[5] which had designed numerous theaters for his company in the Midwest. [9] The highlight of the decor was an enormous crystal chandelier in the main lobby. The sq. The 885,000-square-foot structure was built in 1927 and landmarked in 1988. Asking rents in the building range from low $50s in the base to low $70s in the tower. The Rapp brothers created a thirty-three story office tower which was influenced by the Art Deco style, and a theatre in the palatial Neo-Renaissance style behind it. finalized a 10-year, 18,680-square-foot lease for a space with a terrace on part of the 10th floor of the 33-story office building, according to landlord brokerage, . The Paramount Theatre opened on November 19, 1926. Eric Thomas and Richard Bernstein, also of Cushman & Wakefield, handled the deal on behalf of the tenant and didn’t immediately respond to a request for comment via spokespeople. [6] The building continued as American Broadcasting-Paramount Theatres's headquarters after UPT's merger with ABC. The school is relocating from nearby. Since launching CompStak in early 2012, Michael has helped navigate the company through tremendous growth, with over $17 million raised, 70 major markets launched, and a 45 person team. Get access to full lease comp information on CompStak. [7] The theater closed in 1964 under UPT ownership only to be reopened later that year under new ownership,[6] while ABC moved to the ABC Building at 1330 Avenue of the Americas in 1965. Keep up to date. “We are also pleased to see how well the market has responded, as appreciation of the significant investment and improvements made is clearly being demonstrated through the considerable amount of leasing activity that’s now taking place at the building.”. Other major tenants in the building include the. between West 43rd and West 44th Streets in Times Square, Commercial Observer has learned. The group, which is the largest organization in the world that represents professional musicians, renewed its lease for a 15-year term and relocated from a smaller space on the sixth floor to 18,332 square feet on the entire ninth floor. Completed in 1927, it once housed the Paramount Theatre. Avison Young’s Arthur Mirante, Michael Gottlieb and Joseph Gervino handled all four deals for landlord Paramount Leasehold, which is a partnership of Levin Properties, the estate of Arthur G. Cohen and other investors. The owners of the landmarked, Art Deco office tower have just completed a $50 million renovation of the property that included new windows and elevators, upgraded corridors and bathrooms, a new marble lobby, the opening of a cafe on the ground floor and the addition of new marquee signage above the entrance. The company will grow by 17,656 square feet—from 34,344 square feet to 52,000 square feet—and take over the entire sixth floor. A security camera mounted at the building played a role in attempting to identify the assailant. This home was built in and last sold on for. Construction lasted between 1926 and 1927, costing $13.5 million. Did you hear the news? [10], List of New York City Designated Landmarks in Manhattan from 14th to 59th Streets, New York City Landmarks Preservation Commission, "Ambitious ABC Planning Initiated Under New Merged Ownership", Photo of Times Square bombing suspect released, Times Square–42nd Street/Port Authority Bus Terminal, Jacqueline Kennedy Onassis High School for International Careers, 111, 115 (Trinity and United States Realty), https://en.wikipedia.org/w/index.php?title=1501_Broadway&oldid=983886893, New York City Designated Landmarks in Manhattan, Short description is different from Wikidata, Infobox mapframe without OSM relation ID on Wikidata, Creative Commons Attribution-ShareAlike License, This page was last edited on 16 October 2020, at 20:58.