|Cross Streets:||Seventh & Eighth Avenues||Size:||880,000 SF|
|Year built:||1927||Architect:||Rapp and Rapp|
The office property at 1501 Broadway was completed in 1927, boasting a design by Rapp and Rapp, and used to be known as the Paramount Theatre. It was constructed to house the headquarters of Paramount Pictures and was the tallest building in Times Square at the time of completion. The building was designated a New York City Landmark in 1988. The Paramount Building features a recognizable four-faced clock at the top of its pyramidal structure, topped by an ornamental glass globe. During World War II, the clock was painted black; it was restored in 1996. The building offers state-of-the-art office and retail space and recently underwent a $50 million capital improvements program.
880 KSF of Class A Times Square Office Space
The Paramount Building at 1501 Broadway offers roughly 880,000 square feet of rentable Class A Times Square office space, as well as 90,000 square feet of retail space. The 33-story building is owned and managed by Levin Management and was completely renovated in 2017. It incorporates a grand lobby modeled after the Paris Opera House, featuring marble columns, railings, and a grand staircase.
Office spaces range from 600 to 31,000 square feet, and partial, full-floor, pre-built, and white-box spaces are available for rent. Amenities at the Paramount Building include upgraded corridors and restrooms, new windows, new escalators, a tenant-only Espresso and Wine Bar and Lounge, and facial recognition and automatic temperature checks at turnstiles.
Getting to and from 1501 Broadway
The Paramount Building at 1501 Broadway is conveniently located in the heart of Midtown Manhattan, in the bustling Times Square submarket. Those working within the building have easy access to a plethora of shopping, dining, and entertainment destinations in the area and access to public transportation. Four subway stations are within walking distance, serving various subway lines, while the Port Authority is also just a short walk away.
Who is renting office space at 1501 Broadway?
The Paramount Building is home to various high-profile office tenants working in theater and entertainment, TAMI, engineering, non-profit, and financial and legal services. Notable clients renting office and retail space in the building include Regus, Nevin Law Group, Glick & Weintraub, Blair & Associates, Ameriprise Financial, New Broadway Dental, and Hard Rock Cafe.
How much is the rent price for office space at 1501 Broadway?
Office asking rents at 1501 Broadway start at $60 per square foot, significantly more affordable than office space in Hudson Yards, the Plaza District, or Park Avenue. The property offers best-in-class Manhattan office space, modern amenities, upgraded infrastructure, and easy access to public transportation. A big plus is the COVID19 protection features, including biometric facial recognition, touchless technology, and temperature checks.
Image via Google Street View