1500 Broadway

Office building in Manhattan, New York August 2024 August 2024 1500 Broadway Times_Sq_Nov_2021_33.jpg 1500 Broadway in November 2021 1500 BroadwayManhattan, New York, U.S. 40 45 24 N 73 59 08 W type:landmark it Complete 1972 Skyscraper Modernism 392 ft on 33 500,000 ft2 m2 5 Leo Kornblath Rosenwasser / Grossman Consulting Engineers, P.C. Arlen Realty and Development Corporation Tamares Group 1500 Broadway (also known as Times Square Plaza) is an office building on Times Square in Midtown Manhattan, New York City, New York. Completed in 1972 by Arlen Realty & Development Corporation, the 33-story building is 392 ft off us tall. The building replaced the Hotel Claridge and occupies an entire block front on the east side of Broadway between 43rd Street and 44th Street. The facade is made of bronze aluminum and contains tinted-glass windows. The lowest four stories of the facade were renovated in the late 1980s, and there is also a pair of curving news tickers and a billboard at the lower part of the building's facade. The building contains about 460000 ft2 of space. At ground level, there was originally an arcade, lobby, two foyers, and a movie theater; in addition, Times Square Studios and ABC Studios occupy space on the lower stories. The New York City Board of Estimate approved a zoning regulation encouraging the construction of theaters in new office buildings near Times Square. Subsequently, National General Pictures announced plans in January 1970 for a skyscraper with movie theaters, and Arlen Realty was hired as the building's developer. The building's cinema opened December 12, 1972, and the first office leases were signed in March 1974. The structure was almost completely vacant when it opened, and it did not approach full occupancy until the mid-1980s. The structure was sold in 1988 to the 1500 Realty Company, and it was resold in 1995 to a partnership that included Tamares Group. Site 1500 Broadway is on the eastern side of Times Square, between 43rd and 44th Streets in the Midtown Manhattan neighborhood of New York City, New York, U.S.2971500 Broadway, 10036 https://zola.planning.nyc.gov/l/lot/1/996/1 March 25, 2021 New York City Department of City Planning April 11, 2023 https://web.archive.org/web/20230411181050/https://zola.planning.nyc.gov/l/lot/1/996/1 live While the building carries a Broadway address, it is actually on the east side of Seventh Avenue. The section of Broadway and Seventh Avenue between 43rd and 45th Streets is officially listed on city maps as "Times Square",Pollak Michael June 12, 2005 Times Square Shuffle en-US The New York Times https://www.nytimes.com/2005/06/12/nyregion/thecity/times-square-shuffle.html live November 17, 2021 https://web.archive.org/web/20211117011948/https://www.nytimes.com/2005/06/12/nyregion/thecity/times-square-shuffle.html November 17, 2021 0362-4331As the two roads intersect at a very shallow angle, they are nearly parallel through Times Square. Broadway is west of Seventh Avenue to the north of 45th Street and east of Seventh Avenue to the south of 44th Street. Because Broadway between 42nd and 47th Streets was closed in the 2010s, 1500 Broadway only faces Seventh Avenue. but the adjoining section of Broadway was converted into a permanent pedestrian plaza in the 2010s.Warerkar Tanay April 19, 2017 See How Snøhetta's Transformation of Times Square Made It More Pedestrian Friendly https://ny.curbed.com/2017/4/19/15358234/times-square-snohetta-before-after-photos dead https://web.archive.org/web/20211101195300/https://ny.curbed.com/2017/4/19/15358234/times-square-snohetta-before-after-photos November 1, 2021 November 1, 2021 Curbed NYFishbein Rebecca April 19, 2017 Photos: Times Square's Transformation Into A Pedestrian-Friendly Tourist Fun Zone Is Complete https://gothamist.com/news/photos-times-squares-transformation-into-a-pedestrian-friendly-tourist-fun-zone-is-complete live https://web.archive.org/web/20211101195259/https://gothamist.com/news/photos-times-squares-transformation-into-a-pedestrian-friendly-tourist-fun-zone-is-complete November 1, 2021 November 1, 2021 Gothamist 1500 Broadway's rectangular land lot is bounded by Times Square to the west, 44th Street to the north, and 43rd Street to the south. The lot spans 25569 ft2 m2, with a frontage of 203.77 ft on Broadway and a depth of 125 ft. The surrounding area is part of Manhattan's Theater District and contains many Broadway theatres. 1500 Broadway shares the block with the Lambs Club Building and the Town Hall performing-arts center to the east. The Bow Tie Building, Millennium Times Square New York hotel, the Hudson Theatre, the aka Times Square, and the Belasco Theatre are across 44th Street to the north, and 4 Times Square, the Bank of America Tower, and the Stephen Sondheim Theatre are across 43rd Street to the south. The building is also near One Times Square and 3 Times Square to the southwest, 1501 Broadway to the west, and One Astor Plaza to the northwest. Prior to the development of the current 1500 Broadway, the southeast corner of Broadway and 44th Street was occupied by the Hotel Claridge,May 21, 1964 Claridge Hotelin Times Square Is Acquired by Douglas Leigh en-US The New York Times https://www.nytimes.com/1964/05/21/archives/claridge-hotelin-times-square-is-acquired-by-douglas-leigh.html August 21, 2024 0362-4331 April 17, 2023 https://web.archive.org/web/20230417010220/https://www.nytimes.com/1964/05/21/archives/claridge-hotelin-times-square-is-acquired-by-douglas-leigh.html live Stern Mellins Fishman 1995 . 447 built in 1910 as the Rector Hotel.December 4, 1910 Rector's to Open for the Holidays; Work Is Now Being Pushed on the Interior of New Times Square Hotel and Restaurant. en-US The New York Times https://www.nytimes.com/1910/12/04/archives/rectors-to-open-for-the-holidays-work-is-now-being-pushed-on-the.html August 21, 2024 0362-4331 August 21, 2024 https://web.archive.org/web/20240821233732/https://www.nytimes.com/1910/12/04/archives/rectors-to-open-for-the-holidays-work-is-now-being-pushed-on-the.html live From 1941 to 1966, that building had contained a billboard advertising Camel cigarettes, which emitted steam jets.Chan Sewell May 15, 2006 Neon Nostalgia From Times Square to Be Sold by Sign Maker en-US The New York Times https://www.nytimes.com/2006/05/15/nyregion/neon-nostalgia-from-times-square-to-be-sold-by-sign-maker.html August 21, 2024 0362-4331 April 20, 2023 https://web.archive.org/web/20230420120126/https://www.nytimes.com/2006/05/15/nyregion/neon-nostalgia-from-times-square-to-be-sold-by-sign-maker.html live The northeast corner of Broadway and 43rd Street contained a two-story commercial structure at 1500–1504 Broadway, owned by the family of George Innes-Ker, 9th Duke of Roxburghe, from 1920 to 1963.June 17, 1963 Roxburghe Sells Midtown Parcel; Chicago Man Buys Building at Broadway and 43d Building Downtown Sold First Sale in 43 Years en-US The New York Times https://www.nytimes.com/1963/06/17/archives/roxburghe-sells-midtown-parcel-chicago-man-buys-building-at.html August 21, 2024 0362-4331 April 16, 2023 https://web.archive.org/web/20230416183240/https://www.nytimes.com/1963/06/17/archives/roxburghe-sells-midtown-parcel-chicago-man-buys-building-at.html live The two-story structure, a shoe shop,Kaufman Michael T. December 13, 1972 Broadway Greets New Movie Theater en-US The New York Times https://www.nytimes.com/1972/12/13/archives/broadway-greets-new-movie-theater.html August 21, 2024 0362-4331 April 16, 2023 https://web.archive.org/web/20230416204212/https://www.nytimes.com/1972/12/13/archives/broadway-greets-new-movie-theater.html live itself replaced the Barrett House hotel, where playwright Eugene O'Neill was born.Gelder Lawrence Van October 16, 2000 This Week en-US The New York Times https://www.nytimes.com/2000/10/16/arts/this-week.html August 21, 2024 0362-4331 April 18, 2023 https://web.archive.org/web/20230418031826/https://www.nytimes.com/2000/10/16/arts/this-week.html live Architecture The structure was built as a joint venture between Arlen Realty and Development Corporation and National General Corporation.March 17, 1974 News of the Realty Trade en-US The New York Times https://www.nytimes.com/1974/03/17/archives/news-of-the-realty-trade-new-firm-midtown-leases-industrial-lease.html August 21, 2024 0362-4331 April 17, 2023 https://web.archive.org/web/20230417014038/https://www.nytimes.com/1974/03/17/archives/news-of-the-realty-trade-new-firm-midtown-leases-industrial-lease.html live It was designed by the firm of Leo Kornblath & AssociatesFowler Glenn January 13, 1970 32-Story Tower on Times Square Will Be 6Th New Project in Area en-US The New York Times https://www.nytimes.com/1970/01/13/archives/32story-tower-on-times-square-will-be-6th-new-project-in-area.html August 21, 2024 0362-4331 April 21, 2023 https://web.archive.org/web/20230421004648/https://www.nytimes.com/1970/01/13/archives/32story-tower-on-times-square-will-be-6th-new-project-in-area.html live and is 33 stories high.Goldstein Matthew May 17, 1999 Durst's Uninsured Crain's New York Business 15 20 1 219162088Elstein Aaron Nasdaq to vacate former Times Square headquarters Crain's New York Business August 30, 2024 https://www.crainsnewyork.com/real-estate/nasdaq-vacate-former-times-square-headquarters September 5, 2024Other sources cited the building as being 32, 34, or 35 stories high. The building contains 460000 ft2 of space,January 21, 1970 Nat'l General Building Twin Flagships in Broadway Skyscraper The Independent Film Journal 65 4 8 1505867839 of which 360000 ft2 was rentable space.Horsley Carter B. February 6, 1972 Industrial Properties, Acreage, Rooms and Board, Section G 1972 The New York Times Company R1 The New York Times 0362-4331 119407723 Facade The facade is made of bronze aluminum and contains tinted-glass windows.January 14, 1970 Pictures: Claridge Hotel Part of New Building For Natl. Genl. Corp.; Two Theatres Variety 257 9 30 1014858362 At ground level, there was originally an arcade with shops and a marquee on the Broadway side. The lobby, and two foyers for a movie theater on the second and third stories, were visible behind the marquee.Horsley Carter B. December 3, 1972 Times Square's New Movie Palace Scorns the Palatial: Times Square Theater R1 The New York Times 0362-4331 119393250November 13, 1972 NGT's National to Open In Times Square Dec. 12 Boxoffice 102 5 9 1476048327 The marquee measured 72 ft long and 9 ft high.November 13, 1972 NGT Gives Its Regards To B'way With Lavish New National Theatre 70 48 The Independent Film Journal 12 1014665905 The Artkraft-Strauss Corporation designed a series of vertical light tubes on the facade, which stretched from a third-floor chandelier outside the building, spanning the length of the marquee, to another third-floor chandelier. According to the movie theater's architect Drew Eberson,Eberson was the son of prolific movie palace designer John Eberson. this was intended to give the impression that the theater was "opening its arms to Broadway". The lowest four stories of the facade were renovated in the late 1980s, when Clark Tribble Harris & Li designed a new entrance on 43rd Street with a portico made of stainless steel and black granite.Kennedy Shawn G. May 17, 1989 Real Estate; Renovation Of Buildings On Times Sq. en-US The New York Times https://www.nytimes.com/1989/05/17/business/real-estate-renovation-of-buildings-on-times-sq.html August 21, 2024 0362-4331 February 6, 2022 https://web.archive.org/web/20220206214750/https://www.nytimes.com/1989/05/17/business/real-estate-renovation-of-buildings-on-times-sq.html live When the Walt Disney Company built the Times Square Studios within the lowest part of the building in the late 1990s, a curving, 4000 ft2 on screen was placed on the northwest corner of the building.Larsen Soren Dec 1999 Times Square Studios New York City: Disney's Imagineers and Hlw Concoct an Attention-Getter On a Prominent Site Amid the Cacophony of Times Square https://usmodernist.org/AR/AR-1999-12.pdf Architectural Record 138–139 August 21, 2024 June 27, 2024 https://web.archive.org/web/20240627135505/https://usmodernist.org/AR/AR-1999-12.pdf live The facade also features a pair of curving news tickers, as well as a 585 ft2 on screen overlooking Broadway and Seventh Avenue.Carter Bill September 18, 1999 Part ABC Studio, Part Disney Billboard en-US The New York Times https://www.nytimes.com/1999/09/18/business/part-abc-studio-part-disney-billboard.html December 5, 2017 0362-4331 August 21, 2024 https://web.archive.org/web/20240821233733/https://www.nytimes.com/1999/09/18/business/part-abc-studio-part-disney-billboard.html live Unlike other buildings on Times Square, the building did not contain any digital advertisements until 1997, when the owners installed a 40 by 40 ft on advertising screen above the seventh-story setback. Another screen, measuring 52 by 31.5 ft, was installed in 2001 and originally advertised the Wrigley Company.Elliott Stuart June 19, 2001 The Media Business: Advertising; After More Than 40 Years, Wrigley Is Set for a Flashy Return to Times Square. en-US The New York Times https://www.nytimes.com/2001/06/19/business/media-business-advertising-after-more-than-40-years-wrigley-set-for-flashy.html August 21, 2024 0362-4331 April 19, 2023 https://web.archive.org/web/20230419004108/https://www.nytimes.com/2001/06/19/business/media-business-advertising-after-more-than-40-years-wrigley-set-for-flashy.html live Features When 1500 Broadway was built, the base contained a movie theater designed by Drew Eberson. The structure was originally supposed to contain two screens, with 1,000 and 1,500 seats.January 23, 1970 New Film Theatres In Skyscraper Back Stage 4 11 17 963312994 The larger screen would have been stacked above the smaller one, and both auditoriums would have been decorated with white marble, bronze, and wood. As constructed, the building contained a single-screen cinema with 1,445 seats. Patrons entered a 14 ft -tall mid lobby with marble walls, where a pair of escalators led to the cinema. The auditorium itself was clad in vinyl with teak doors. Each seat was made of fiberglass and upholstered in orange; the bottoms of the seats were painted white so people could easily determine whether a seat was occupied. There was an orchestra level with 932 seats and a mezzanine with 513 seats. The curtain was decorated in olive, burnt orange, and copper colors, which harmonized with the auditorium's general color scheme. The lobby was originally shaped like an "L". When the lobby was renovated in the late 1980s, it was converted into a rotunda with curved walls, two ornamental columns, and a ceiling measuring 25 ft high. The walls and floor were clad in white marble accented with red, gray, and black granite. This project involved removing some of the storefronts. 1500 Broadway hosts Times Square Studios and ABC Studios.Alleman Richard https://books.google.com/books?id=f_0Z5SxTKLkC&pg=PA105 New York: The Movie Lover's Guide: The Ultimate Insider Tour of Movie New York Crown 2013 978-0-8041-3778-2 105 November 4, 2021 August 21, 2024 https://web.archive.org/web/20240821233857/https://books.google.com/books?id=f_0Z5SxTKLkC&pg=PA105#v=onepage&q&f=false live The studios were designed by Walt Disney Imagineering and its senior vice president of concept design Eddie Sotto, who stated that the design of the building symbolized a "looking glass" and the idea of "media as architecture". During the studios' construction, the lowest five stories were gutted, and concrete columns at the center of the building were replaced with steel trusses along the perimeter. The ground floor includes a studio with three removable glass panels.Hartnett 1999 . 52–53 Covering 2400 ft2, the ground-level studio was originally designed to resemble a New York City Subway station.Hartnett 1999 . 52 On the second floor is the 4600 ft2 on Marquee Studio, which overlooks the corner of Broadway and 44th Street and is cantilevered over the ground-level studio. The studio overhangs the sidewalk on Broadway by up to 18 ft. History After World War II, development of theaters around Times Square stalled, and the area began to evolve into a business district.Stern Mellins Fishman 1995 . 441 By the 1960s, city officials were encouraging the westward expansion of office towers in Manhattan, and there were few efforts to preserve existing theaters.Stern Mellins Fishman 1995 . 444Schroeder Robert J. April 21, 1969 Broadway's Theatres: 'Too Valuable to Keep' https://books.google.com/books?id=qdsCAAAAMBAJ live New York Magazine 2 47–48 https://web.archive.org/web/20220205005659/https://books.google.com/books?id=qdsCAAAAMBAJ February 5, 2022 February 9, 2022 This changed in 1967, when the New York City Board of Estimate approved a zoning regulation encouraging the construction of theaters in new office buildings near Times Square.Sibley John December 8, 1967 Board of Estimate Approves Measure to Encourage Theater Construction en-US The New York Times https://www.nytimes.com/1967/12/08/archives/board-of-estimate-approves-measure-to-encourage-theater.html live February 5, 2022 https://web.archive.org/web/20220205005659/https://www.nytimes.com/1967/12/08/archives/board-of-estimate-approves-measure-to-encourage-theater.html February 5, 2022 0362-4331 The legislation allowed developers to increase the maximum amount of office space in their buildings if they erected a theater at their base.Kirk Christina December 5, 1971 Broadway Turns the Corner 120, 121 Daily News https://www.newspapers.com/clip/122688469/broadway-turns-the-cornerchristina-kirk/ August 21, 2024 April 17, 2023 https://web.archive.org/web/20230417014038/https://www.newspapers.com/clip/122688469/broadway-turns-the-cornerchristina-kirk/ live Development and early years alt=The building viewed from ground level at night|thumb|Viewed at night National General Pictures announced in January 1970 that it had signed a lease for a 32-story skyscraper with two movie theaters, which was to be built on the site of the Claridge Hotel. Arlen Realty was to be the building's developer. National General would be the flagship tenant, which was to be known as the NGC Realty Building or the National General Building. When 1500 Broadway was announced, it was one of six office buildings being planned for the immediate neighborhood,Oser Alan S. January 18, 1970 Boom in Office Space Demand Slows a Bit en-US The New York Times https://www.nytimes.com/1970/01/18/archives/boom-in-office-space-demand-slows-a-bit.html August 21, 2024 0362-4331 July 23, 2022 https://web.archive.org/web/20220723105716/https://www.nytimes.com/1970/01/18/archives/boom-in-office-space-demand-slows-a-bit.html live and demand for office space in Manhattan had already begun to wane. The National General Building was also one of several new buildings near Times Square with theaters, along with One Astor Plaza and the Uris Building, although these structures contained Broadway theaters rather than cinemas. During the building's construction, Arlen Realty hired artists Nassos Daphnis and Tania to paint a 16-story-tall street art mural on the building's steel frame. The street art was covered by the building's facade as construction progressed.Lelyveld Joseph January 5, 1972 Painting Adorns Building Frame en-US The New York Times https://www.nytimes.com/1972/01/05/archives/painting-adorns-building-frame-rising-walls-doom-abstract-art-on.html August 21, 2024 0362-4331 April 21, 2023 https://web.archive.org/web/20230421054542/https://www.nytimes.com/1972/01/05/archives/painting-adorns-building-frame-rising-walls-doom-abstract-art-on.html live Stern Mellins Fishman 1995 . 447–448 The building's cinema opened December 12, 1972, with the premiere of The Poseidon Adventure.August 11, 1971 Okay 1,500-Seater For NGC On Site Of Claridge Hotel Variety 4 It was the first new movie theater to be built on Times Square in 37 years,Horsley Carter B. January 1, 1973 Subway Noise Threatens Reade Theater Opening en-US The New York Times https://www.nytimes.com/1973/01/01/archives/subway-noise-threatens-reade-theater-opening-theater-across-street.html live February 6, 2022 https://web.archive.org/web/20220206011859/https://www.nytimes.com/1973/01/01/archives/subway-noise-threatens-reade-theater-opening-theater-across-street.html February 6, 2022 0362-4331 following the Criterion Theatre in 1935. National General had dropped out of the project by the time the building was completed. In part due to the large oversupply of office space in Manhattan, only 10 to 15 percent of the building was occupied in its first year;Wallach Amei December 12, 1973 Good Times Ahead For Times Square 1A Newsday 2574-5298 917418611 the structure was almost completely vacant except for its retail space and movie theater. The first office leases were not signed until March 1974, when women's clothing store Lane Bryant and document-management corporation Xerox collectively leased 30,500 ft2. Other early tenants included the American Federation of Musicians (which leased three floors)July 28, 1974 Five Leases Signed in McGraw-Hill Building Five Companies Have: News of the Realty Trade Officer Elected Jersey Warehouse Executive Named Full Floor Leased Midtown Lease Broadway Lease 286 Newsday 2574-5298 119947432 the Actors' Equity Association, and the Junior League.January 10, 1977 Junior Leaguers Link Their Aims To Urban League en-US The New York Times https://www.nytimes.com/1977/01/10/archives/junior-leaguers-link-their-aims-to-urban-league.html August 21, 2024 0362-4331 April 17, 2023 https://web.archive.org/web/20230417154418/https://www.nytimes.com/1977/01/10/archives/junior-leaguers-link-their-aims-to-urban-league.html live One-third of the building had been leased by early 1975.February 23, 1975 News of the Realty Trade: Office Center Leases 5 Floors 1500 Broadway Midtown Subleases Midtown Tract Sold Gallant-Roth Executives Named R8 The New York Times 0362-4331 120214120 Years after the building opened, it continued to struggle with low occupancy rates. By 1975, the building's space was only being rented for 6 to 7 $/ft2, well below the 11 $/ft2 that experts said was necessary for the building to break even.December 19, 1975 Skyscraper Office Spaces Vacant 25 The Austin American Statesman 1500100908 A Chase Bank branch in the building had closed in 1976 after just two years of operation.Barmash Isadore February 21, 1976 Chase Will Close Branch at 44th Street and Broadway en-US The New York Times https://www.nytimes.com/1976/02/21/archives/chase-will-close-branch-at-44th-street-and-broadway.html August 21, 2024 0362-4331 April 17, 2023 https://web.archive.org/web/20230417012437/https://www.nytimes.com/1976/02/21/archives/chase-will-close-branch-at-44th-street-and-broadway.html live Newsweek wrote in 1977 that the building remained half empty, even though the office space was still relatively new.September 5, 1977 A Race for Space Newsweek 90 10 72, 74 1879156470 In 1979, as part of an ongoing redevelopment of Times Square, architect Frederick DeMatteis proposed creating a three-story "deck" surrounding 1500 Broadway and several other nearby buildings; the deck would have supported numerous skyscrapers.Horsley Carter B. December 23, 1979 Times Square's Potential Inspires the Developers: Proposals Depend on City Condemning Sites Times Square Potential Inspires Builders R1 The New York Times 0362-4331 120657001 A second screen was added at the National Theater in 1982.National Twin http://cinematreasures.org/theaters/1853 September 26, 2020 Cinema Treasures March 24, 2013 https://web.archive.org/web/20130324171517/http://cinematreasures.org/theaters/1853 live The building did not reach near-full occupancy until the mid-1980s, when space was being rented out for 18 to 24 $/ft2.Kennedy Shawn G. September 26, 1984 About Real Estate; Times Sq. Project: Impact on the Area en-US The New York Times https://www.nytimes.com/1984/09/26/business/about-real-estate-times-sq-project-impact-on-the-area.html August 21, 2024 0362-4331 November 16, 2021 https://web.archive.org/web/20211116194653/https://www.nytimes.com/1984/09/26/business/about-real-estate-times-sq-project-impact-on-the-area.html live During the 1980s, Garth Drabinsky of Cineplex Odeon Corporation took over the National Theater and renovated its two screens.Aikman Becky October 12, 1987 Inside New York's Movie Business National Theater Chains Are Shaking Up a Market Of Hard-Core Film Buffs 1 Newsday 2574-5298 277810972 Sales and renovations alt=Signs and advertisements at the building's base|thumb|The base The structure was sold in 1988 for about $88 million, or approximately 200 $/ft2.McCain Mark November 20, 1988 Commercial Properties: Shopping for Buildings; 'Trophies' Are Rare, And There Are Risks Aplenty en-US The New York Times https://www.nytimes.com/1988/11/20/realestate/commercial-properties-shopping-for-buildings-trophies-are-rare-there-are-risks.html August 21, 2024 0362-4331 April 17, 2023 https://web.archive.org/web/20230417173753/https://www.nytimes.com/1988/11/20/realestate/commercial-properties-shopping-for-buildings-trophies-are-rare-there-are-risks.html live The new owners, known as the 1500 Realty Company, had wanted to buy the building because it had windows on all sides, the offices did not require asbestos abatement, and the neighborhood was improving. However, the structure had 200000 ft2 of vacant space; brokers said potential tenants were dissuaded by the lack of security, poor maintenance, and rundown lobby. This prompted the owners to renovate the lower section of the building's facade and enlarge the lobby. The renovation attracted six tenants who collectively leased 130000 ft2. The building's owners went bankrupt in the 1990s.McNatt Robert October 16, 1995 A Magic Kingdom in the City? Crain's New York Business 11 42 39 219179292 1500 Broadway was 96 percent occupied by 1994, when a $75 million mortgage loan on the building was sold.Deutsch Claudia H. June 22, 1994 Real Estate; A Well-Received Auction of New York Properties Was a Pitchman's Dream, And a Successful One. en-US The New York Times https://www.nytimes.com/1994/06/22/business/real-estate-well-received-auction-new-york-properties-was-pitchman-s-dream.html August 21, 2024 0362-4331 February 6, 2022 https://web.archive.org/web/20220206173629/https://www.nytimes.com/1994/06/22/business/real-estate-well-received-auction-new-york-properties-was-pitchman-s-dream.html live The building was sold in September 1995 to a partnershipHolusha John March 9, 1997 Lag in New Construction Tightens Midtown Market en-US The New York Times https://www.nytimes.com/1997/03/09/realestate/lag-in-new-construction-tightens-midtown-market.html August 21, 2024 0362-4331 September 20, 2021 https://web.archive.org/web/20210920212456/https://www.nytimes.com/1997/03/09/realestate/lag-in-new-construction-tightens-midtown-market.html live who paid Crossland Savings Bank $55 million. The building's stakeholders included the Tamares Group,Hall Miriam Former investor in 1500 Broadway says billionaire owner hoodwinked him into selling stake The Real Deal November 30, 2016 https://therealdeal.com/new-york/2016/11/30/former-investor-in-1500-broadway-says-billionaire-owner-hoodwinked-him-into-selling-stake/ April 14, 2023 April 14, 2023 https://web.archive.org/web/20230414185508/https://therealdeal.com/new-york/2016/11/30/former-investor-in-1500-broadway-says-billionaire-owner-hoodwinked-him-into-selling-stake/ live Intertech,Brookman Faye April 22, 1996 Turf War: 42nd St.'s Revival May Jeopardize 57th St.'s Outlook Crain's New York Business 12 17 25 219153402 Charles Bendit, and Essex Capital Partners.Gross Daniel October 21, 1996 Restaurant Build-Outs On the House Crain's New York Business 12 43 53 219149911 Rushbury Limited, an investment trust, bought a 6.25 percent ownership stake in 1996. At the time, the ground level included electronics stores and souvenir shops.Cortese Amy May 18, 2008 A New Stamp on a Vast Space en-US The New York Times https://www.nytimes.com/2008/05/18/realestate/commercial/18sqft.html August 21, 2024 0362-4331 April 18, 2023 https://web.archive.org/web/20230418233748/https://www.nytimes.com/2008/05/18/realestate/commercial/18sqft.html live After the building was sold, Intertech announced plans to renovate 1500 Broadway's mechanical systems and public spaces for $6 million.Slatin Peter November 6, 1995 Site-Seeing Foreigners in Search of Dream Deal Crain's New York Business 11 45 15 219167330 Most of the tenants' retail leases were set to expire over the next several years,Deutsch Claudia H. March 10, 1996 Commercial Property/Times Square;Those Retail Feet Are Dancing North of 42d Street en-US The New York Times https://www.nytimes.com/1996/03/10/realestate/commercial-property-times-square-those-retail-feet-are-dancing-north-42d-street.html August 21, 2024 0362-4331 May 26, 2015 https://web.archive.org/web/20150526163003/http://www.nytimes.com/1996/03/10/realestate/commercial-property-times-square-those-retail-feet-are-dancing-north-42d-street.html live and these tenants gradually moved out.Halbfinger David M. November 21, 1997 Metro Business; ABC Confirms Lease For Times Sq. Studio en-US The New York Times https://www.nytimes.com/1997/11/21/nyregion/metro-business-abc-confirms-lease-for-times-sq-studio.html August 21, 2024 0362-4331 April 17, 2023 https://web.archive.org/web/20230417131300/https://www.nytimes.com/1997/11/21/nyregion/metro-business-abc-confirms-lease-for-times-sq-studio.html live Intertech's executive vice president said, "One of the reasons we bought 1500 Broadway in 1995 was its potential for signage", as the building had never contained any advertisements.Levin Jay October 19, 1998 Signs of Prosperity in Times Square Crain's New York Business 14 42 52 219159351 As such, Intertech announced plans in early 1997 to install an advertising screen,Lueck Thomas J. February 6, 1997 Times Square to Get More Big TV Screens en-US The New York Times https://www.nytimes.com/1997/02/06/nyregion/times-square-to-get-more-big-tv-screens.html August 21, 2024 0362-4331 April 17, 2023 https://web.archive.org/web/20230417190209/https://www.nytimes.com/1997/02/06/nyregion/times-square-to-get-more-big-tv-screens.html live Carrns Ann February 28, 1997 Seeing Dollar Signs in Times Square 12:3 The Wall Street Journal 0099-9660 398566359 the first such screen to be installed on the building in its history.Holusha John October 29, 1997 Commercial Real Estate; Exploiting the Fame of Times Square en-US The New York Times https://www.nytimes.com/1997/10/29/nyregion/commercial-real-estate-exploiting-the-fame-of-times-square.html August 21, 2024 0362-4331 April 24, 2023 https://web.archive.org/web/20230424115725/https://www.nytimes.com/1997/10/29/nyregion/commercial-real-estate-exploiting-the-fame-of-times-square.html live To attract potential tenants, Bendit's firm Taconic Investment Partners replaced the building's wiring.Brooks David October 19, 1998 State-Of-The-Art Wiring, No Charge Crain's New York Business 14 42 53 219192188 Although clothing chain Old Navy had been negotiating to lease the building's ground level,Bagli Charles V. February 8, 1999 As Rents Soar, Boom Is Slowed in Times Square en-US The New York Times https://www.nytimes.com/1999/02/08/nyregion/as-rents-soar-boom-is-slowed-in-times-square.html August 21, 2024 0362-4331 September 4, 2021 https://web.archive.org/web/20210904010359/https://www.nytimes.com/1999/02/08/nyregion/as-rents-soar-boom-is-slowed-in-times-square.html live the American Broadcasting Company (ABC) leased the lower floors of 1500 Broadway in late 1997, with plans to add television studios and an ESPN Grill there.Furman Phyllis Williams Scott November 21, 1997 ABC TV Is Going B'way Times Square A.m. Show Eyed 7 New York Daily News 2692-1251 313605437 ABC agreed to lease the space after two executives of ABC's parent company, the Walt Disney Company, had stood on the old National Theater's marquee while looking for sites for its studios.Carter Bill September 18, 1999 Part ABC Studio, Part Disney Billboard en-US The New York Times https://www.nytimes.com/1999/09/18/business/part-abc-studio-part-disney-billboard.html August 21, 2024 0362-4331 August 21, 2024 https://web.archive.org/web/20240821233733/https://www.nytimes.com/1999/09/18/business/part-abc-studio-part-disney-billboard.html live ABC was one of several major companies to lease large amounts of space in Times Square during that time,Bagli Charles V. June 20, 1999 Conde Nast's Stylish Clan Moves Into Times Sq. en-US The New York Times https://www.nytimes.com/1999/06/20/nyregion/conde-nast-s-stylish-clan-moves-into-times-sq.html live September 18, 2021 https://web.archive.org/web/20121116110532/http://www.nytimes.com/1999/06/20/nyregion/conde-nast-s-stylish-clan-moves-into-times-sq.html November 16, 2012 0362-4331 and rent rates at the building increased significantly in the following year.Flamm Matthew April 20, 1998 The New Market for Makeovers Crain's New York Business 14 16 32 219197997 The National Theater was closed to make way for the studios, and the lowest five stories were gutted and rebuilt starting in mid-1998. The renovation involved installing 300 ST LT t of steel. Good Morning America started broadcasting from the studios in 1999,Lerman Laurence November 5, 2000 Times Square Studios Act as Dioramas to Public Variety 24 236307456 following the renovation, which cost about 1,000 $/ft2.Strasse Kimberley A. September 29, 1999 Plots & Plans B12 The Wall Street Journal 0099-9660 398674387 Bendit sold his stake in the building the same year. Late 1990s to present alt=A glass entrance to the building on 43rd Street|thumb|Entrance on 43rd Street The building had about 65 tenants at the end of the 1990s.Eaton Leslie July 25, 1998 Sorry, Nobody's in the Office; Displaced Companies Work From Hotels and Homes en-US The New York Times https://www.nytimes.com/1998/07/25/nyregion/sorry-nobody-s-in-the-office-displaced-companies-work-from-hotels-and-homes.html August 21, 2024 0362-4331 April 25, 2023 https://web.archive.org/web/20230425061922/https://www.nytimes.com/1998/07/25/nyregion/sorry-nobody-s-in-the-office-displaced-companies-work-from-hotels-and-homes.html live Goldstein Matthew July 27, 1998 Insurance Gaps Leave Times Sq. Firms Vulnerable Crain's New York Business 14 30 3 219152394 According to The New York Times, the building's occupants included "lawyers, accountants, salesmen, public relations people, and the staffs of two magazines", namely Essence and Latina; its largest tenant was public-relations firm Edelman, which employed 300 people at the building. 1500 Broadway was also known as Times Square Plaza by 2000. Another billboard, promoting the Wrigley Company, was installed on 1500 Broadway in mid-2001. Major tenants during the 2000s included stock exchange NASDAQ, which leased 60000 ft2 immediately after the September 11 attacks; although NASDAQ quickly moved out, the exchange continued to sublease the space for 20 years.Croghan Lore January 20, 2003 Vacancy Sign Lights up in Times Square Crain's New York Business 19 3 3 219167109 In addition, Edelman continued to occupy a large part of the building until 2009.Marks Andrew November 30, 2009 Tough Times in Times Square Crain's New York Business 25 48 12 219214821 By the early 2010s, the building's tenants included Chinese Communist Party–owned newspaper China Daily,Kusisto Laura January 17, 2012 Chinese Media Aiming High in City http://online.wsj.com/article/SB10001424052970203735304577165402805729994.html April 14, 2023 The Wall Street Journal 0099-9660 November 13, 2012 https://web.archive.org/web/20121113003951/http://online.wsj.com/article/SB10001424052970203735304577165402805729994.html live in addition to 13 technology companies.Hughes C. J. August 28, 2012 Bargain Seekers Broaden Manhattan's Silicon Alley en-US The New York Times https://www.nytimes.com/2012/08/29/realestate/commercial/tech-firms-in-manhattan-trade-trendy-lofts-for-midtown-bargains.html August 21, 2024 0362-4331 April 18, 2023 https://web.archive.org/web/20230418211712/https://www.nytimes.com/2012/08/29/realestate/commercial/tech-firms-in-manhattan-trade-trendy-lofts-for-midtown-bargains.html live The Tamares Group acquired Rushbury Ltd.'s ownership stake in 1500 Broadway for $12 million in 2014 before obtaining a $335 million mortgage loan for the building. This prompted Simon Murray of Rushbury Ltd. to sue the Tamares Group's director, Poju Zabludowicz, claiming that Zabludowicz had convinced Murray to sell his ownership stake because Zabludowicz did not want to share the cash from the mortgage loan. In late 2022, a Gordon Ramsay Fish & Chips restaurant opened in 1500 Broadway,Adams Erika May 9, 2022 Celebrity Chef Gordon Ramsay Is Opening a Fish-And-Chips Chain in Times Square https://ny.eater.com/2022/5/9/23063382/celebrity-chef-gordon-ramsay-fish-and-chips-restaurant-times-square June 22, 2022 Eater NY June 30, 2022 https://web.archive.org/web/20220630140344/https://ny.eater.com/2022/5/9/23063382/celebrity-chef-gordon-ramsay-fish-and-chips-restaurant-times-square/ live along with a Carlo's Bakery.Hallum Mark Carlo's Bakery Signs 2.2K-SF Lease at 1500 Broadway Commercial Observer September 27, 2022 https://commercialobserver.com/2022/09/carlos-bakery-signs-2-2k-sf-lease-at-1500-broadway/ August 13, 2024 August 13, 2024 https://web.archive.org/web/20240813164452/https://commercialobserver.com/2022/09/carlos-bakery-signs-2-2k-sf-lease-at-1500-broadway/ live Adams Erika Cake Boss to Open Another Bakery in Times Square Eater NY September 27, 2022 https://ny.eater.com/2022/9/27/23374150/cake-boss-bakery-opening-times-square August 13, 2024 August 13, 2024 https://web.archive.org/web/20240813164452/https://ny.eater.com/2022/9/27/23374150/cake-boss-bakery-opening-times-square live Tamashii Nations opened a toy and collectible store there the next year.Tamashii Nations Store New York Opens in Times Square Otaku USA Magazine September 8, 2023 https://otakuusamagazine.com/tamashii-nations-store-new-york-opens-in-times-square/ August 13, 2024 August 13, 2024 https://web.archive.org/web/20240813164453/https://otakuusamagazine.com/tamashii-nations-store-new-york-opens-in-times-square/ live New Toys and Collectibles Store to Open in Times Square Connect CRE February 19, 2024 https://www.connectcre.com/stories/new-toys-and-collectibles-store-to-open-in-times-square/ August 13, 2024 August 13, 2024 https://web.archive.org/web/20240813164452/https://www.connectcre.com/stories/new-toys-and-collectibles-store-to-open-in-times-square/ live The building's $335 million loan was sent to special servicing in August 2024.Coen Andrew CMBS Loan on GMA-Anchored Times Square Property Hits Special Servicing Commercial Observer August 12, 2024 https://commercialobserver.com/2024/08/cmbs-loan-abc-gma-anchored-times-square-office-property-special-servicing/ August 13, 2024 Tamares wanted forbearance on the loan as well. At the time, 25% of the space was vacant, and the owner was struggling to find tenants for the vacant space; in addition, two major tenants' leases were scheduled to expire that year.Cavanaugh Suzannah Midtown office default shows refi pain persists The Real Deal August 14, 2024 https://therealdeal.com/new-york/2024/08/14/tamares-group-defaults-on-365m-times-square-plaza-loan/ August 20, 2024 August 18, 2024 https://web.archive.org/web/20240818235006/https://therealdeal.com/new-york/2024/08/14/tamares-group-defaults-on-365m-times-square-plaza-loan/ live Though Nasdaq chose not to renew its lease at the end of the month, the company continued to operate its signage on the building. After the loan went into default in late 2024,Elstein Aaron Home of 'Good Morning America' joins growing list of defaulted properties Crain's New York Business January 10, 2025 https://www.crainsnewyork.com/real-estate/1500-broadway-joins-list-defaulted-buildings March 15, 2025 Tamares obtained a four-year loan extension in March 2025, giving the company more time to repay the loan.Tamares Group secures four-year extension at 1500 Broadway The Real Deal March 13, 2025 https://therealdeal.com/new-york/2025/03/13/tamares-group-nabs-extension-at-1500-broadway/ March 15, 2025Cunningham Cathy Tamares Group Seals $505M Loan Extension for 1500 Broadway Commercial Observer March 12, 2025 https://commercialobserver.com/2025/03/tamares-group-loan-extension/ March 15, 2025 The same year, Good Morning America moved out of its 1500 Broadway studio,Morgan Katrina Where is 'Good Morning America' moving to? Morning show prepares to bid farewell to Times Square KUSA.com June 9, 2025 https://www.9news.com/article/news/television/good-morning-america-moving-leaving-times-square-studio/507-0dd527f3-a10c-42b9-b72c-2b5cb47457b7 June 11, 2025Daniels Karu F. 'Good Morning America' leaving Times Square studio after 25-plus years New York Daily News June 10, 2025 https://www.nydailynews.com/2025/06/10/good-morning-america-moving-times-sqaure-25-years/ June 11, 2025 having announced its relocation in 2023.Johnson Ted 'Good Morning America' To Leave Times Square Studio Deadline October 19, 2023 https://deadline.com/2023/10/good-morning-america-leaving-times-square-studio-1235577666/ June 11, 2025 Critical reception Paul Goldberger criticized the building as having brought "nothing more than Third Avenue banality to a part of town that, whatever its social problems, has always been visually spectacular."Goldberger Paul July 4, 1981 A Renewal as Lively as Times Square Itself; An Appraisal en-US The New York Times https://www.nytimes.com/1981/07/04/nyregion/a-renewal-as-lively-as-times-square-itself-an-appraisal.html live April 5, 2022 https://web.archive.org/web/20220405165441/https://www.nytimes.com/1981/07/04/nyregion/a-renewal-as-lively-as-times-square-itself-an-appraisal.html April 5, 2022 0362-4331 Robert A. M. Stern similarly described the building as a "banality", especially as contrasted with the Hotel Claridge. Just before the building's late-1990s renovation, a writer for Crain's New York described 1500 Broadway as "a plain black box with dowdy retail space". References Notes Citations Sources Hartnett Jeffrey C. Dec 1999 GMA moves to Times Square Studios Broadcast Engineering 41 14 50–56 204175378 1960 External links Category:1972 establishments in New York City Category:Broadway (Manhattan) Category:Office buildings completed in 1972 Category:Skyscraper office buildings in Manhattan Category:Times Square buildings