The Plan: Paramount Building Undergoing a Modern Transformation. 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.
Sign up for a CompStak account to access the full lease comparables at 1501 Broadway. 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. The second-largest deal was with a musicians labor union, the American Federation of Musicians of the United States and Canada. 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. and other investors. The labor union which represents professional musicians throughout both countries has been a long-time tenant at 1501 Broadway. The interior of it was very high but somewhat shallow as necessitated by its allotted space. Cushman & Wakefield represented them in the transaction. Educational Tenants, Musicians Union and Engineers Ink Leases at Paramount Building. 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. 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. [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. [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 second-largest deal was with a musicians labor union, the.
[9] The theatre with 3,664 seats, was located at the rear of the building and served as the company's flagship venue where its major films would be premiered. The educational program inked a 15-year, 16,657-square-foot lease on the 11th floor. Engineering firm Hardesty & Hanover also nailed down an expansion for the remaining 12 years of their lease. . [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. It was designated a New York City Landmark in 1988. [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. The 885,000-square-foot structure was built in 1927 and landmarked in 1988. Stay updated with our latest creative transformations. C&W’s Michael Baraldi and Charles Goldman and David Berke of Newmark Knight Frank oversaw the deal for EC and didn’t immediately respond to a request for comment.
[3] At the time of its completion, it was the tallest building in Times Square,[4] and once sported an observation deck. The ceilings were painted with a fresco and gilded, while the railings were manufactured from brass. 1501 is making headlines with new tenant announcements, building improvements, and more! “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. Choose the CompStak platform that's right for you. [9] Within the auditorium, the drapes were colored in red velvet and the rugs were designed in a similar red.