1585 Broadway

Office skyscraper in Manhattan, New York September 2025 February 2022 1585 Broadway Morgan Stanley Building Morgan Stanley Times Square.jpg 200px Morgan Stanley yes 40 45 36 N 73 59 08 W region:US-NY inline,title Office 1585 BroadwayManhattan, New York, U.S. 685 ft m 42 1989 1990 1,336,576 ft2 m2 Emery Roth & Sons, Gwathmey Siegel & Associates Architects WSP Cantor Seinuk Starrett Brothers and Eken Morgan Stanley Solomon Equities Inc. 1585 Broadway, also called the Morgan Stanley Building, is a 42-story office building on Times Square in the Theater District neighborhood of Manhattan in New York City, New York, U.S. The building was designed by Gwathmey Siegel & Associates Architects and Emery Roth & Sons and was developed by David and Jean Solomon. 1585 Broadway occupies a site on the west side of Broadway between 47th and 48th Streets. The building has served as the headquarters of financial-services company Morgan Stanley since 1995. 1585 Broadway consists of a low base, with setbacks that recede into a tower section measuring 685 ft tall. The facade is designed with large signs at the base. The upper stories contain a facade of glass with aluminum spandrels, as well as a glass gable roof. At the ground level, the entire Broadway side contains stores, and the main entrances are placed on 47th and 48th Streets. The office entrances are connected by a wide lobby, which also connects to a basement cafeteria. Morgan Stanley's offices occupy the upper floors, with an executive suite at the 40th and 41st stories. The interior was designed by Gwathmey Siegel and Gensler. Solomon Equities had developed 1585 Broadway as a speculative development in 1989, on the site of the Strand Theatre and another building. Morgan Stanley had expressed interest in the space during construction but ultimately decided against it. When 1585 Broadway was completed in 1990, law firm Proskauer Rose was the only tenant, occupying eleven floors. The Solomons unsuccessfully attempted to attract more tenants and fell into debt, forcing the building into foreclosure in December 1991. The building was taken over by a consortium of banks who sold it to Morgan Stanley in 1993. Morgan Stanley moved into the building after several renovations. Proskauer Rose renovated its own space in 2000 and continued to occupy part of the building until 2010. Afterward, Morgan Stanley expanded into the former Proskauer Rose space and renovated each floor in the mid-2010s. Site 1585 Broadway is on the western side of Broadway, between 47th Street to the south and 48th Street to the north. It is at the northwest corner of Times Square in the Theater District of Midtown Manhattan in New York City, New York, U.S.3011585 Broadway, 10036 https://zola.planning.nyc.gov/l/lot/1/1019/7502 March 25, 2021 New York City Department of City Planning February 14, 2022 https://web.archive.org/web/20220214175123/https://zola.planning.nyc.gov/l/lot/1/1019/7502 live The trapezoidal land lot covers 50,657 ft2 m2, with a frontage of 206 ft on 47th Street and a depth of 277.87 ft. The southeastern end of the building faces Duffy Square. The surrounding area is part of Manhattan's Theater District and contains many Broadway theatres. The Morgan Stanley Building shares the block with the Ethel Barrymore Theatre and Samuel J. Friedman Theatre on 47th Street and the Longacre Theatre on 48th Street. Across 48th Street are the Eugene O'Neill Theatre and Walter Kerr Theatre to the northwest and the Crowne Plaza Times Square Manhattan to the north. To the east across Times Square are 20 Times Square, TSX Broadway, the Palace and Embassy Theatres, and the I. Miller Building. In addition, the Hotel Edison and Lunt-Fontanne Theatre are to the south, and the Brooks Atkinson Theatre and Paramount Hotel are to the southwest. The site had contained two six-story buildings before 1986: the Strand Theatre, a movie house, as well as Leighton's Haberdashers and Clothiers, which had operated on Broadway for 67 years.Gottlieb Martin November 1, 1986 Surge of Times Sq. Projects Raises Questions on Effects en-US The New York Times https://www.nytimes.com/1986/11/01/nyregion/surge-of-times-sq-projects-raises-questions-on-effects.html February 14, 2022 0362-4331 February 10, 2022 https://web.archive.org/web/20220210171139/https://www.nytimes.com/1986/11/01/nyregion/surge-of-times-sq-projects-raises-questions-on-effects.html live Architecture 1585 Broadway was designed by Emery Roth & Sons and Gwathmey Siegel & Associates Architects1585 Broadway https://www.emporis.com/buildings/115451/1585-broadway-new-york-city-ny-usa January 1, 2021 Emporis January 3, 2021 https://web.archive.org/web/20210103201613/https://www.emporis.com/buildings/115451/1585-broadway-new-york-city-ny-usa usurped and was Gwathmey Siegel's first high-rise design. It is 42 stories tallDunlap David W. April 30, 1995 Along Times Sq., Signs of New Life Abound en-US The New York Times https://www.nytimes.com/1995/04/30/realestate/along-times-sq-signs-of-new-life-abound.html February 15, 2022 0362-4331 September 26, 2021 https://web.archive.org/web/20210926164844/https://www.nytimes.com/1995/04/30/realestate/along-times-sq-signs-of-new-life-abound.html liveSome sources give the building's height as 41 stories. Robert A. M. Stern incorrectly cited the height as 52 stories. and measures 685 ft 0 to its roof.1585 Broadway http://www.skyscrapercenter.com/building/1585-broadway/1498 Skyscraper Center CTBUH September 11, 2017 November 18, 2018 https://web.archive.org/web/20181118205906/http://www.skyscrapercenter.com/building/1585-broadway/1498 live Irwin G. Cantor of WSP Cantor Seinuk was the structural engineer,Sims Calvin March 18, 1987 Business Technology; Defying the Wind With Less Steel en-US The New York Times https://www.nytimes.com/1987/03/18/business/business-technology-defying-the-wind-with-less-steel.html February 14, 2022 0362-4331 February 15, 2022 https://web.archive.org/web/20220215033806/https://www.nytimes.com/1987/03/18/business/business-technology-defying-the-wind-with-less-steel.html live while the Tishman Construction Company was the general contractor.McDowell Edwin December 13, 2000 Commercial Real Estate; Project Picks Up Where It Left Off a Decade Ago en-US The New York Times https://www.nytimes.com/2000/12/13/nyregion/commercial-real-estate-project-picks-up-where-it-left-off-a-decade-ago.html February 15, 2022 0362-4331 February 3, 2018 https://web.archive.org/web/20180203183444/http://www.nytimes.com/2000/12/13/nyregion/commercial-real-estate-project-picks-up-where-it-left-off-a-decade-ago.html live 1585 Broadway has a Leadership in Energy and Environmental Design (LEED) Gold green building certification. The building is also known as the Morgan Stanley Building for its anchor tenant, financial services company Morgan Stanley, which uses 1585 Broadway as a headquarters.Morris Keiko Hoffman Liz February 10, 2017 Morgan Stanley Exploring Move to Manhattan's West Side en-US Wall Street Journal https://www.wsj.com/articles/morgan-stanley-exploring-move-to-manhattans-west-side-1486687118 February 15, 2022 0099-9660 January 3, 2022 https://web.archive.org/web/20220103141312/https://www.wsj.com/articles/morgan-stanley-exploring-move-to-manhattans-west-side-1486687118 live Form and facade The building was proposed with a facade and a gable roof made of glass, as well as a square tower set back from the base.Goldberger Paul January 30, 1987 An Appraisal; New Times Sq. Zoning: Skyscrapers With Signs en-US The New York Times https://www.nytimes.com/1987/01/30/nyregion/an-appraisal-new-times-sq-zoning-skyscrapers-with-signs.html February 14, 2022 0362-4331 February 10, 2022 https://web.archive.org/web/20220210191630/https://www.nytimes.com/1987/01/30/nyregion/an-appraisal-new-times-sq-zoning-skyscrapers-with-signs.html live As built, the base occupies the entire site;Stichweh Dirk New York Skyscrapers Prestel Publishing 2016 978-3-7913-8226-5 178 923852487 it is aligned with Broadway, which runs diagonally to the Manhattan street grid.Goldberger Paul February 10, 1991 Architecture View; In Times Square, Dignity by Day, Glitter by Night en-US The New York Times https://www.nytimes.com/1991/02/10/arts/architecture-view-in-times-square-dignity-by-day-glitter-by-night.html February 14, 2022 0362-4331 February 15, 2022 https://web.archive.org/web/20220215050015/https://www.nytimes.com/1991/02/10/arts/architecture-view-in-times-square-dignity-by-day-glitter-by-night.html liveGwathmey Siegel 1 .Abercrombie 1996 126 . The base is designed with several setbacks that, according to Gwathmey Siegel, "responds to the pedestrian scale of the street in the theater district". Above ground level, there are two rectangular setbacks. There is a double-height mechanical space on the fourth and fifth floors, with an outward curve toward Broadway; this delineates the transition between the base and tower.Gwathmey Siegel & Associates Architects https://books.google.com/books?id=2kxQAAAAMAAJ Gwathmey Siegel & Associates Architects: Selected and Current Works Images Publishing 1998 978-1-875498-74-1 Master architect series III 56 February 16, 2022 February 16, 2022 https://web.archive.org/web/20220216135900/https://books.google.com/books?id=2kxQAAAAMAAJ live Nash Eric Manhattan Skyscrapers https://archive.org/details/manhattanskyscra00nash_0 registration Princeton Architectural Press 2005 978-1-56898-652-4 New York 157 407907000 The mechanical space's facade contains ventilation and heating grilles rather than windows. The tower section is aligned with 47th and 48th Streets, which run parallel to the street grid.thumb|Weather display at the base The base is covered in glass and metal, with dark-glass panels hiding the signage behind them.Stern Fishman Tilove 2006 . 656–657 Artkraft Strauss Sign Corporation manufactured the signs on the base,Lowry Tom July 31, 1995 Bank's sign mixes neon and NASDAQ 190 New York Daily News 2692-1251 newspapers.com https://www.newspapers.com/clip/95027585/banks-sign-mixes-neon-and-nasdaqtom/ February 15, 2022 March 17, 2022 https://web.archive.org/web/20220317143805/https://www.newspapers.com/clip/95027585/banks-sign-mixes-neon-and-nasdaqtom/ live which were included to comply with city regulations.Marray Michael Jun 1995 Morgan Stanley's sign of the times 314 7 198855972 EuromoneyApr 1995 Bright lights, big firm 29 4 14 221497983 Institutional Investor Ten dark-glass "fins" protrude over the sidewalk on Broadway, each containing one of the characters "1585 B'way". Each storefront has signs identifying the retailer there. Three horizontal boards are placed above the fourth-story setback, displaying financial quotations and news. Each board is 140 ft wide and 10 to 12 ft high;Henry David March 20, 1995 Broadway Bound 81, 85 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/95015640/broadway-bounddavid-henry/ February 15, 2022 February 16, 2022 https://web.archive.org/web/20220216023235/https://www.newspapers.com/clip/95015640/broadway-bounddavid-henry/ liveStern Fishman Tilove 2006 . 659 the boards constitute a large ticker tape.Gabriel Frederick April 21, 1997 Companies show public profile in the latest sign of the times 13 16 43 219116079 Crain's New York BusinessKimmelman Michael December 31, 1996 That Flashing Crazy Quilt of Signs? It's Art en-US The New York Times https://www.nytimes.com/1996/12/31/arts/that-flashing-crazy-quilt-of-signs-it-s-art.html February 15, 2022 0362-4331 January 29, 2018 https://web.archive.org/web/20180129161554/http://www.nytimes.com/1996/12/31/arts/that-flashing-crazy-quilt-of-signs-it-s-art.html live Two additional signs at the corners, measuring 30 by 60 ft, display market information. At Broadway's corners with 47th and 48th Streets, there are curved signs measuring 44 ft tall, which display the current time in cities around the world. Morgan Stanley's name is only displayed at the corners, with 7 in cm -high mid letters. The tower's facade is mostly a glass curtain wall with facade panels designed by PPG. The tower section contains silver aluminum spandrel panels at the corners. On the upper stories, the corners are notched inward and contain mirrored-glass panels. The remainder of the facade is made of panels that are either white, blue-green, or mirrored glass. These panels are framed by nearly invisible mullions. The facade panels appear in different colors under different lighting conditions. According to a book about Gwathmey Siegel's architecture, these materials were meant to create "images of both opacity and reflectivity, creating a simultaneous sense of fluidity and permanence". The roof is pitched on four sides, a modification of a mansard roof design, but with four backlit panels. Architectural critic Paul Goldberger described the roof as a "cross between a gabled roof and a cut-off pyramid". Features The building has 1.3 e6ft2 of gross floor area.. Stern Fishman Tilove 2006 656Gwathmey Siegel 6 . Because of zoning rules, there is no office entrance on Broadway, as that frontage is taken up by shops.Kennedy Shawn G. August 5, 1990 Elegant Lobbies to Lure Office Tenants en-US The New York Times https://www.nytimes.com/1990/08/05/realestate/elegant-lobbies-to-lure-office-tenants.html February 14, 2022 0362-4331 February 14, 2022 https://web.archive.org/web/20220214203352/https://www.nytimes.com/1990/08/05/realestate/elegant-lobbies-to-lure-office-tenants.html live Gwathmey Siegel designed the original lobby in 1990 as well as the executive suite of Morgan Stanley in 1995. Gensler designed the remainder of the offices.Abercrombie 1996 131–132 .McDowell Edwin August 23, 2000 Commercial Real Estate; Law Firm Is No Longer Lonely in Refurbished Tower on Times Square en-US The New York Times https://www.nytimes.com/2000/08/23/nyregion/commercial-real-estate-law-firm-no-longer-lonely-refurbished-tower-times-square.html February 15, 2022 0362-4331 February 14, 2022 https://web.archive.org/web/20220214150844/https://www.nytimes.com/2000/08/23/nyregion/commercial-real-estate-law-firm-no-longer-lonely-refurbished-tower-times-square.html live Lobby and basements The lobby connects the entrances on 47th and 48th Streets.January 11, 2019 1585 Broadway https://apops.mas.org/pops/m050104/ February 14, 2022 Privately Owned Public Space (APOPS) February 14, 2022 https://web.archive.org/web/20220214203350/https://apops.mas.org/pops/m050104/ live It is a privately owned public space measuring 100 by 60 ft. The lobby is part of a corridor of privately owned public spaces connecting 44th to 49th Streets. The other spaces on this corridor are Shubert Alley, a passageway under the New York Marriott Marquis, the lobby of the Hotel Edison, and a driveway under the Crowne Plaza Times Square Manhattan. The lobby contains a marble floor with white, dark-green, and black tiles arranged in a geometric pattern. The walls are made of gray granite with dark green marble strips. One wall curves inward to give the impression that it is shorter than it actually is.July–August 1993 Citations https://usmodernist.org/AL/AL-1993-07-08.pdf 7 40 Architectural Lighting 3 February 16, 2022 July 29, 2020 https://web.archive.org/web/20200729015013/https://usmodernist.org/AL/AL-1993-07-08.pdf live The lobby ceiling is made of wood and is supported by two large columns.Gwathmey Siegel 2 . The ceiling is arranged in a grid, with rectangular coffers measuring 5 ft wide. There are incandescent lamps with reflectors within the ceiling, creating what Architectural Lighting magazine described as a "luminous" effect. Stephen Margulies designed the lobby lighting. Behind a glass wall, the lobby contains escalators to a 500-seat dining room in the basement.Stern Fishman Tilove 2006 . 657 An overpass passes above the dining-room escalators. The dining room was built in 1995; it was originally storage space and was not connected to the lobby.Abercrombie 1996 131 . The lobby and dining room collectively measure 29000 ft2. The sub-basement was originally used by law firm Proskauer Rose, whose chairman Alan S. Jaffe euphemistically referred to the space as a "concourse". Part of the sub-basement level became a law library in 2000; the space had 60,000 volumes and was staffed by 14 librarians, with capacity for 34 lawyers. The sub-basement also had locker rooms for the law firm's male and female employees. There are full-height frosted-glass panels, wooden decorations, and indirect lighting fixtures from the walls and ceiling. The space contains three concrete columns measuring 4 by 4 ft, which are covered with stainless-steel panels. Executive suite Morgan Stanley's executive suite is on the 40th and 41st stories of the tower and covers 45000 ft2. It contains offices, dining rooms, meeting spaces, and boardrooms.Abercrombie 1996 128 . The foyer to the executive suite contains windows facing in three directions, while the offices can accommodate 30 executives. The suite is clad in granite and three types of wood;Abercrombie 1996 130 . architect Charles Gwathmey said this arose from Morgan Stanley's desire for "real materials". Anigre is used for the foyer's walls. Mahogany is used for the steps of the double-width staircase connecting the two floors, as well as for ceiling grids, similar to those in the lobby. Ebonized cherry wood is used for doors and other fixtures.Abercrombie 1996 128–130 . The executive suite also contains a 35 ft m -long mid boardroom table, as well as various pieces of modern furniture. Some of the furniture is inspired by those at Frank Lloyd Wright's Coonley House. History Times Square's Theater District had evolved into a business district after World War II.441 1960 Nonetheless, there were relatively few large developments there in the mid-20th century. Between 1958 and 1983, only twelve buildings with at least 100000 ft2 of space were developed in the 114-block area between Sixth Avenue, Times Square, Eighth Avenue, and Columbus Circle.Gottlieb Martin December 4, 1983 Developers Looking West of Sixth Avenue en-US The New York Times https://www.nytimes.com/1983/12/04/realestate/developers-looking-west-of-sixth-avenue.html February 10, 2022 0362-4331 August 19, 2021 https://web.archive.org/web/20210819224129/https://www.nytimes.com/1983/12/04/realestate/developers-looking-west-of-sixth-avenue.html live 1585 Broadway was proposed in the 1980s, when there was high demand for office space in New York City.Deutsch Claudia H. May 2, 1993 Waiting for Act 2 Around Times Square en-US The New York Times https://www.nytimes.com/1993/05/02/realestate/waiting-for-act-2-around-times-square.html February 11, 2022 0362-4331 February 11, 2022 https://web.archive.org/web/20220211013938/https://www.nytimes.com/1993/05/02/realestate/waiting-for-act-2-around-times-square.html live Husband-and-wife team David and Jean Solomon had become involved in acquiring and residential structures in Manhattan during the late 1970s, moving on to office buildings in the following decade.Selvin Barbara W. November 21, 1988 Up-and-Comers Keep Low Profile 139 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94950070/up-and-comers-keep-low-profilebarbara/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214175128/https://www.newspapers.com/clip/94950070/up-and-comers-keep-low-profilebarbara/ live The Solomons decided to develop two structures on Times Square's northern periphery in the late 1980s: 750 Seventh Avenue and 1585 Broadway. Both of these structures were developed speculatively without a commitment from a specific tenant.Lueck Thomas J. September 19, 1990 New York Developers Feel a Chill en-US The New York Times https://www.nytimes.com/1990/09/19/business/new-york-developers-feel-a-chill.html February 14, 2022 0362-4331 October 20, 2021 https://web.archive.org/web/20211020161124/https://www.nytimes.com/1990/09/19/business/new-york-developers-feel-a-chill.html liveSommerfield Frank December 18, 1990 Hubby-wife developers on the ropes 25, 27 New York Daily News 2692-1251 newspapers.com https://www.newspapers.com/clip/94965591/hubby-wife-developers-on-the/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214211438/https://www.newspapers.com/clip/94965591/hubby-wife-developers-on-the/ live Development thumb|Seen from street level at 47th Street The Solomons acquired the Strand Theatre and Leighton's Haberdashers and Clothiers in 1986, with plans to build a 40-story tower on the two sites. This was one of several developments planned for Times Square at that time. The New York City Planning Commission (CPC) was considering enacting regulations that would have forced new buildings along Times Square's northern section to include bright signage as well as deep setbacks.Oser Alan S. December 14, 1986 Perspectives: Great White Way; Planning for a Brighter Times Sq. en-US The New York Times https://www.nytimes.com/1986/12/14/realestate/perspectives-great-white-way-planning-for-a-brighter-times-sq.html February 14, 2022 0362-4331 February 14, 2022 https://web.archive.org/web/20220214185322/https://www.nytimes.com/1986/12/14/realestate/perspectives-great-white-way-planning-for-a-brighter-times-sq.html live David Solomon opposed these regulations on the basis that they were to be indiscriminate, "without thought of how to apply them to those new buildings architecturally". Leighton's closed in December 1986 to make way for the tower.Dunlap David W. December 20, 1986 Two Times Square Stalwarts Make Way for New Buildings; Colorful Haberdashery, After 67-years Stand on Broadway, Closes en-US The New York Times https://www.nytimes.com/1986/12/20/nyregion/two-times-square-stalwarts-make-way-for-new-buildings-colorful-haberdashery.html February 14, 2022 0362-4331 February 14, 2022 https://web.archive.org/web/20220214175125/https://www.nytimes.com/1986/12/20/nyregion/two-times-square-stalwarts-make-way-for-new-buildings-colorful-haberdashery.html live To attain additional floor area, Solomon Equities purchased the Barrymore Theatre's unused air development rights from the Shubert Organization.Dunlap David W. November 22, 1987 The Region; The City Casts Its Theaters In Stone en-US The New York Times https://www.nytimes.com/1987/11/22/weekinreview/the-region-the-city-casts-its-theaters-in-stone.html live October 16, 2021 https://web.archive.org/web/20211016164623/https://www.nytimes.com/1987/11/22/weekinreview/the-region-the-city-casts-its-theaters-in-stone.html October 16, 2021 0362-4331 In total, the structure would have 1.2 e6ft2.Meislin Richard J. August 10, 1987 Times Sq. Development: Boom of Private Projects en-US The New York Times https://www.nytimes.com/1987/08/10/nyregion/times-sq-development-boom-of-private-projects.html February 14, 2022 0362-4331 October 25, 2021 https://web.archive.org/web/20211025180604/https://www.nytimes.com/1987/08/10/nyregion/times-sq-development-boom-of-private-projects.html live Engineering consultant Irwin Cantor devised two plans for the building's superstructure: a tubular frame and a megastructure. By mid-1987, Morgan Stanley was negotiating with Solomon Equities for space in the proposed tower.McCain Mark May 10, 1987 Voracious Space Demand: in the New York Region RER42 The New York Times 0362-4331 110786288Lin Jennifer May 31, 1987 The avenue they'll try to redo—Forty-second St. 189, 192 The Philadelphia Inquirer newspapers.com https://www.newspapers.com/clip/94952370/the-avenue-theyll-try-to/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214191014/https://www.newspapers.com/clip/94952370/the-avenue-theyll-try-to/ live Morgan Stanley executives did not like the prospect of seeing bright signage outside their windows,Selvin Barbara W. August 3, 1987 The Changing Face of the Great White Way 118, 125, 126 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94952562/the-changing-face-of-the-great-white/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214191019/https://www.newspapers.com/clip/94952562/the-changing-face-of-the-great-white/ live and the deal fell through for that reason.Sommerfield Frank May 4, 1987 Breaking Up Is Hard on Us: Defections Spell Big Trouble for N.Y.'s Real Estate Market 3 18 1 219152832 Crain's New York BusinessMerkel Jayne July–August 2000 Times Square on the Record https://usmodernist.org/AIANY/AIANY-2000-07-08.pdf Oculus American Institute of Architects New York 62 7 10 February 15, 2022 September 26, 2021 https://web.archive.org/web/20210926213934/https://usmodernist.org/AIANY/AIANY-2000-07-08.pdf live The Solomons decided to proceed with the tower anyway. The supply of office space in New York City was starting to outpace demand by then.McCain Mark May 10, 1987 Voracious Space Demand Meets a Surging Supply en-US The New York Times https://www.nytimes.com/1987/05/10/realestate/voracious-space-demand-meets-a-surging-supply.html February 14, 2022 0362-4331 February 14, 2022 https://web.archive.org/web/20220214215433/https://www.nytimes.com/1987/05/10/realestate/voracious-space-demand-meets-a-surging-supply.html live Demolition of the site was underway by mid-1987. The CPC approved a planning regulation in September 1987, which required large new developments in Times Square to set aside about 5 percent of their space for "entertainment uses", such as broadcast studios or ground-floor stores.Dunlap David W. September 3, 1987 New Rule for Times Sq. Space en-US The New York Times https://www.nytimes.com/1987/09/03/nyregion/new-rule-for-times-sq-space.html February 10, 2022 0362-4331 February 10, 2022 https://web.archive.org/web/20220210171136/https://www.nytimes.com/1987/09/03/nyregion/new-rule-for-times-sq-space.html live While 1585 Broadway was planned entirely as an office building,Oser Alan S. February 21, 1988 Perspectives: Times Square; A Major Mall in a Broadway Building en-US The New York Times https://www.nytimes.com/1988/02/21/realestate/perspectives-times-square-a-major-mall-in-a-broadway-building.html February 14, 2022 0362-4331 February 10, 2022 https://web.archive.org/web/20220210191632/https://www.nytimes.com/1988/02/21/realestate/perspectives-times-square-a-major-mall-in-a-broadway-building.html live it had retail space on Broadway to comply with this rule. The ordinance also required the developers of such buildings to install large signs facing Times Square;Lyons Richard D. December 27, 1989 Real Estate; Mandating More Glitter On Times Sq. en-US The New York Times https://www.nytimes.com/1989/12/27/business/real-estate-mandating-more-glitter-on-times-sq.html February 14, 2022 0362-4331 February 15, 2022 https://web.archive.org/web/20220215004858/https://www.nytimes.com/1989/12/27/business/real-estate-mandating-more-glitter-on-times-sq.html live the Solomons modified their plans as a result.McCain Mark April 9, 1989 Commercial Property: Times Sq. Signage; A Mandated Comeback for the Great White en-US The New York Times https://www.nytimes.com/1989/04/09/realestate/commercial-property-times-sq-signage-a-mandated-comeback-for-the-great-white.html February 10, 2022 0362-4331 February 10, 2022 https://web.archive.org/web/20220210171135/https://www.nytimes.com/1989/04/09/realestate/commercial-property-times-sq-signage-a-mandated-comeback-for-the-great-white.html live The aftermath of Black Monday had resulted in the New York City office market dropping sharply, but the office market was recovering by 1988.McCain Mark October 16, 1988 Commercial Property: A Year After the Crash, Climbing Back; Office Leasing Picking Up Pace in Manhattan en-US The New York Times https://www.nytimes.com/1988/10/16/realestate/commercial-property-year-after-crash-climbing-back-office-leasing-picking-up.html February 14, 2022 0362-4331 February 14, 2022 https://web.archive.org/web/20220214192421/https://www.nytimes.com/1988/10/16/realestate/commercial-property-year-after-crash-climbing-back-office-leasing-picking-up.html liveBerkowitz Harry August 15, 1988 Market for Office Space Revives 122 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94954896/market-for-office-space-revivesharry/ February 14, 2022 February 15, 2022 https://web.archive.org/web/20220215020154/https://www.newspapers.com/clip/94954896/market-for-office-space-revivesharry/ live Law firm Proskauer Rose leased 426000 ft2 at 1585 Broadway that August,August 12, 1988 Proskauer Rose to Move To a New Office Building 1 Wall Street Journal 0099-9660 398051597August 12, 1988 West Side story 51 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94956494/west-side-story/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214235143/https://www.newspapers.com/clip/94956494/west-side-story/ liveBarsky Neil August 12, 1988 Go west, old law firm, to the West Side 45 New York Daily News 2692-1251 newspapers.com https://www.newspapers.com/clip/94956540/go-west-old-law-firm-to-the-west/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214202948/https://www.newspapers.com/clip/94956540/go-west-old-law-firm-to-the-west/ live with officials citing cheaper rents and newer mechanical systems in their decision.McCain Mark July 3, 1988 Commercial Property: Relocating Law Offices; Big Firms Head to Times Square Area to Expand en-US The New York Times https://www.nytimes.com/1988/07/03/realestate/commercial-property-relocating-law-offices-big-firms-head-times-square-area.html February 14, 2022 0362-4331 February 14, 2022 https://web.archive.org/web/20220214203733/https://www.nytimes.com/1988/07/03/realestate/commercial-property-relocating-law-offices-big-firms-head-times-square-area.html liveLebow Joan June 27, 1988 Law Firms Wheeling West From Old Hubs 4 26 3 219163966 Crain's New York Business Proskauer Rose was one of several law firms leasing office space around Times Square at the time,Berkowitz Harry June 30, 1989 After 140 Years, Lawyers on the Move 63, 66 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94955228/after-140-years-lawyers-on-the/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214191017/https://www.newspapers.com/clip/94955228/after-140-years-lawyers-on-the/ live and developers such as Solomon Equities were offering large incentives for these companies.June 13, 1988 Mini-Glut in Offices Leads To Some Dealing 140, 147 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94956693/mini-glut-in-offices-leads-to-some/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214191015/https://www.newspapers.com/clip/94956693/mini-glut-in-offices-leads-to-some/ live The next year, Solomon Equities unsuccessfully attempted to convince the Chemical Bank to lease space at either 1585 Broadway or 750 Seventh Avenue.Grant Peter September 18, 1989 Chemical, Rock Center Might Make a Marriage 5 38 35 219119000 Crain's New York Business The News Corporation also considered leasing the rest of 1585 Broadway,Tamarkin Roxanne March 31, 1989 Murdoch sets his sights on two midtown towers 38 New York Daily News 2692-1251 newspapers.com https://www.newspapers.com/clip/94956383/murdoch-sets-his-sights-on-two-midtown/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214235211/https://www.newspapers.com/clip/94956383/murdoch-sets-his-sights-on-two-midtown/ liveBarsky Neil June 26, 1989 Merrill Lynch's Back Office Operations May Be Moved to Lower Manhattan Site 1 Wall Street Journal 0099-9660 398146990 along with space in 750 Seventh Avenue. David Solomon severed negotiations in mid-1989 because he felt that News Corp would not pay enough rent.Lebow Joan June 28, 1989 News Corp.'s U.S. Arm Ceases Talks On Lease With Manhattan Developer 1 Wall Street Journal 0099-9660 398215089July 29, 1989 Hold that move 68 New York Daily News 2692-1251 newspapers.com https://www.newspapers.com/clip/94958268/hold-that-move/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214203350/https://www.newspapers.com/clip/94958268/hold-that-move/ live News Corp ultimately canceled the negotiations altogether the next year, amid steep increases in interest rates.Grant Peter August 6, 1990 Businesses Hold Out for Lower Rents 6 32 1 219150066 Crain's New York BusinessAdams Anne L. March 18, 1990 Will Buildings Collapse? Not for Lack of Interest 134 New York Daily News 2692-1251 newspapers.com https://www.newspapers.com/clip/94965364/will-buildings-collapse-not-for-lack/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214231734/https://www.newspapers.com/clip/94965364/will-buildings-collapse-not-for-lack/ live Solomon Equities hired Lois Pitts to market its new Times Square buildings.Stevenson Richard W. August 16, 1988 The Media Business: Advertising; Buildings to Lois Pitts en-US The New York Times https://www.nytimes.com/1988/08/16/business/the-media-business-advertising-buildings-to-lois-pitts.html February 14, 2022 0362-4331 February 14, 2022 https://web.archive.org/web/20220214203354/https://www.nytimes.com/1988/08/16/business/the-media-business-advertising-buildings-to-lois-pitts.html live Completion and insolvency Difficulties thumb|Signage at the base on Broadway 1585 Broadway was completed in 1990 for $300 million.Pacelle Mitchell August 12, 1993 Morgan Stanley agrees to purchase Manhattan skyscraper for $176 million A2 Wall Street Journal 0099-9660 398337051 This coincided with the beginning of the early 1990s recession, when 14.5 percent of Manhattan office space was vacant.Light Larry Meehan John July 2, 1990 Finance: real estate: the walls keep closing in on New York developers 3167 72 236695270 Bloomberg Businessweek Furthermore, some 9 e6ft2 m2 of office space in the western section of Midtown had been developed in the 1980s, of which only half had been leased.Stern Fishman Tilove 2006 . 663Lueck Thomas J. March 4, 1990 Battling for Tenants in a Slow Market en-US The New York Times https://www.nytimes.com/1990/03/04/realestate/battling-for-tenants-in-a-slow-market.html February 11, 2022 0362-4331 February 11, 2022 https://web.archive.org/web/20220211013942/https://www.nytimes.com/1990/03/04/realestate/battling-for-tenants-in-a-slow-market.html live By March 1990, David and Jean Solomon had not been able to sign any other tenants besides Proskauer Rose for either of their Times Square buildings.Selvin Barbara March 9, 1990 Scruffy West 40s Now Dressing For Wreckers' Ball 7, 32 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94667171/scruffy-west-40s-now-dressing-for/ February 10, 2022 February 10, 2022 https://web.archive.org/web/20220210194601/https://www.newspapers.com/clip/94667171/scruffy-west-40s-now-dressing-for/ liveThe Solomons were able to sign a tenant for 750 Seventh Avenue in April 1990.Kleege Stephen April 25, 1990 Deals: West Side Offices Leased in a Soft New York Market 7 The American Banker 292927115 Their Times Square skyscrapers, as well as a third project at 712 Fifth Avenue, were almost nearly empty.Grant Peter June 25, 1990 New Building Squeeze: Solomons at Risks 6 26 3 219132678 Crain's New York BusinessDunlap David W. February 17, 1991 Commercial Property: 712 Fifth Avenue; High Hopes, and Vacancy, for a 4-Building Complex en-US The New York Times https://www.nytimes.com/1991/02/17/realestate/commercial-property-712-fifth-avenue-high-hopes-vacancy-for-4-building-complex.html February 14, 2022 0362-4331 February 16, 2022 https://web.archive.org/web/20220216023235/https://www.nytimes.com/1991/02/17/realestate/commercial-property-712-fifth-avenue-high-hopes-vacancy-for-4-building-complex.html live Proskauer Rose occupied 11 of the 42 floors at 1585 Broadway,Selvin Barbara W. January 23, 1992 Tower Owners Go Bankrupt 51 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94956804/tower-owners-go-bankruptbarbara-w/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214191024/https://www.newspapers.com/clip/94956804/tower-owners-go-bankruptbarbara-w/ live taking up 365000 ft2. The rest of the building, covering 944400 ft2, remained available for lease in mid-1990.Dunlap David W. August 26, 1990 Commercial Property: Vacancy Rates; Black Monday's Fallout: An Emptiness Downtown en-US The New York Times https://www.nytimes.com/1990/08/26/realestate/commercial-property-vacancy-rates-black-monday-s-fallout-an-emptiness-downtown.html February 14, 2022 0362-4331 August 21, 2021 https://web.archive.org/web/20210821004118/https://www.nytimes.com/1990/08/26/realestate/commercial-property-vacancy-rates-black-monday-s-fallout-an-emptiness-downtown.html live Since the structure was less than half occupied, the Solomons were not required to operate the exterior signs.Dunlap David W. June 2, 1991 Commercial Property: Times Square Signs; Things That Go Blink in the Night en-US The New York Times https://www.nytimes.com/1991/06/02/realestate/commercial-property-times-square-signs-things-that-go-blink-in-the-night.html February 14, 2022 0362-4331 February 10, 2022 https://web.archive.org/web/20220210211322/https://www.nytimes.com/1991/06/02/realestate/commercial-property-times-square-signs-things-that-go-blink-in-the-night.html live As part of the Industrial and Commercial Incentive Program, which automatically distributed tax abatements to developers of industrial or commercial buildings in certain areas of New York City, the building also received a municipal tax abatement that lowered its tax bill by several million dollars.Fee Walter December 17, 1991 Getting All of the Breaks Plan gives tax relief to richest 7, 94 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94964170/getting-all-of-the-breaks-plan-gives/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214203349/https://www.newspapers.com/clip/94964170/getting-all-of-the-breaks-plan-gives/ live A consortium of Swiss Bank Corporation, Bank of Montreal, and Toronto-Dominion Bank had given a first mortgage of $320 million, and Swiss Bank also made a $50 million subordinated loan.Grant Peter October 5, 1992 Civil War Over 1585 Broadway: Creditors Dispute Points in Solomon Restructuring Plan 8 40 1 219127197 Crain's New York Business Other debt included $40 million owed to the European American Bank (EAB) and $17.5 million owed to the Commercial Bank of Kuwait.Kleege Stephen December 30, 1991 New York Developer Files for Bankruptcy 'Prepackaged' Deal Arranged with Swiss Bank May Be Largest to Date Series: 5 The American Banker 292938053 The first difficulties with the building's finances arose in September 1990, when the Solomons neglected to pay $46.425 million to the three first-mortgage lenders. The Solomons subsequently missed an interest payment that December, and debts accumulated to the point where Consolidated Edison shut off the building's heat service in early 1991. The Solomons were in default by that February, but the lenders were unable to press their claims. EAB successfully sued the Solomons in June 1991 for failure to pay back the loan,Steinmetz Greg June 7, 1991 EAB's Judgment Day Hard-line bank wins battle with developers 112 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94963478/eabs-judgment-day-hard-line-bank-wins/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214203352/https://www.newspapers.com/clip/94963478/eabs-judgment-day-hard-line-bank-wins/ live and several of the building's construction contractors filed mechanics' liens against the property throughout mid-1991. Furthermore, Proskauer Rose did not pay rent for two years because the Solomons had promised $25 million of improvements and provided a work letter that exempted the tenant from paying rent until October 1991.Dunlap David W. January 19, 1992 Commercial Property: 1585 Broadway; Tracing the Path From Leasing Coup to Bankruptcy en-US The New York Times https://www.nytimes.com/1992/01/19/realestate/commercial-property-1585-broadway-tracing-path-leasing-coup-bankruptcy.html February 14, 2022 0362-4331 February 14, 2022 https://web.archive.org/web/20220214210622/https://www.nytimes.com/1992/01/19/realestate/commercial-property-1585-broadway-tracing-path-leasing-coup-bankruptcy.html live Proskauer Rose decided not to pay its $453,606 monthly rent even when it came due, citing the fact that the Solomons had not made improvements to the building. Among the issues were faulty elevators, an unfinished facade, non-functional mechanical systems, and the fact that the driveway was not staffed 24 hours a day. At one point, Proskauer Rose paid the electric bill at the last minute before 1585 Broadway's power supply was about to be shut off. The law firm was paying for the building's utilities, insurance premiums, and security guards from their own budget, then credited these costs against its rent charges.Brooks Andree September 6, 1992 Commercial Property: Troubled Office Tenants; When an Owner Defaults, What of Past Promises? en-US The New York Times https://www.nytimes.com/1992/09/06/realestate/commercial-property-troubled-office-tenants-when-owner-defaults-what-past.html February 14, 2022 0362-4331 February 6, 2022 https://web.archive.org/web/20220206234239/https://www.nytimes.com/1992/09/06/realestate/commercial-property-troubled-office-tenants-when-owner-defaults-what-past.html live By December 1991, Bank of Montreal and Toronto-Dominion Bank were considering foreclosing on the building. The debt had increased to $340 million by then. Chapter 11 filing thumb|View from 47th Street and Broadway At the end of December 1991, Solomon Equities filed a Chapter 11 bankruptcy petition for 1585 Broadway,Dunlap David W. December 31, 1991 Owners of Times Sq. Tower Seek Bankruptcy Protection en-US The New York Times https://www.nytimes.com/1991/12/31/business/owners-of-times-sq-tower-seek-bankruptcy-protection.html February 14, 2022 0362-4331 February 14, 2022 https://web.archive.org/web/20220214222541/https://www.nytimes.com/1991/12/31/business/owners-of-times-sq-tower-seek-bankruptcy-protection.html liveDecember 31, 1991 Towering bankruptcy 533 New York Daily News 2692-1251 newspapers.com https://www.newspapers.com/clip/94966033/towering-bankruptcy/ February 14, 2022 February 14, 2022 https://web.archive.org/web/20220214215932/https://www.newspapers.com/clip/94966033/towering-bankruptcy/ live having not signed a single tenant for the building in the previous three years. In that time, the building's only tenant, Proskauer Rose, had never paid rent. 1585 Broadway had $231 million in assets and $482 million in debt, and it was losing $1.9 million monthly. As a result of the Chapter 11 filing, the foreclosure proceedings on the building were placed on hold, and David Solomon was relieved of his duty to pay $3.4 million in property taxes.Feiden Douglas March 2, 1992 N.Y. to Go After Assets of Top Tax Delinquents 8 9 1 219175269 Crain's New York Business Proskauer Rose then sued the Solomons, as well as the eight banks that held the building's debt, for not having finished the building. The parties were forming a settlement by April 1992.Dunlap David W. April 23, 1992 Manhattan Skyscraper Agreement en-US The New York Times https://www.nytimes.com/1992/04/23/business/manhattan-skyscraper-agreement.html February 15, 2022 0362-4331 May 26, 2015 https://web.archive.org/web/20150526060220/http://www.nytimes.com/1992/04/23/business/manhattan-skyscraper-agreement.html live The lenders could not agree on the terms of the restructuring, and more than five prospective tenants were turned away as a result. The lenders had arranged to sell 1585 Broadway to Primerica Corporation, which would have relocated its stock brokerage division, Smith Barney, Harris Upham & Company, into the building.March 29, 1993 New York Office Market Has One Bright Spot B1 Wall Street Journal 0099-9660 746859042Grant Peter July 19, 1993 Price tag daunting for Broadway tower 9 29 7 219175269 Crain's New York Business The deal collapsed when Primerica acquired another brokerage, Shearson, and began laying off Smith Barney workers, making the additional space unnecessary.Henry David April 19, 1993 The Corporate Urge to Merge Brings With It the Need to Purge 35 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94987729/the-corporate-urge-to-merge-brings-with/ February 15, 2022 February 16, 2022 https://web.archive.org/web/20220216023236/https://www.newspapers.com/clip/94987729/the-corporate-urge-to-merge-brings-with/ live In another case, the Internal Revenue Service was looking to lease a 240000 ft2 on Midtown office, but 1585 Broadway's bankruptcy dissuaded the IRS from leasing there.Grant Peter October 5, 1992 Recession Makes Strange Bedfellows: IRS Move Boosts Durst Site on 6th 8 40 15 219117413 Crain's New York Business The lenders' acrimonious negotiations also turned away financial-services company Mastercard, which was looking for a new Manhattan headquarters in late 1992 and had identified four buildings, including 1585 Broadway, as possible locations.Deutsch Claudia H. June 20, 1993 Commercial Property: Looking for the Right Space; Why Mastercard Stayed in Manhattan en-US The New York Times https://www.nytimes.com/1993/06/20/realestate/commercial-property-looking-for-right-space-why-mastercard-stayed-manhattan.html February 15, 2022 0362-4331 January 18, 2018 https://web.archive.org/web/20180118060754/http://www.nytimes.com/1993/06/20/realestate/commercial-property-looking-for-right-space-why-mastercard-stayed-manhattan.html live In 1993, the lenders hired Hines Interests Limited Partnership to manage the property. The bankruptcy courts approved a plan to reorganize 1585 Broadway in March 1993. The lenders began looking for a buyer for the entire building. Despite Solomon's negotiations with several potential small tenants, the lenders did not even want to show the building to anyone other than a large tenant.May 2, 1993 A Home-Run Deal Proves Elusive R8 The New York Times 0362-4331 109194859 Furthermore, the lenders wanted $150 million for the property, which had to be sold before the building exited Chapter 11 bankruptcy protection in September 1993. This was much less than the $400 million debt on the building, but it was very high for any investor who was buying the structure speculatively. Among the potential bidders were the Reliance National Insurance Company, which was seeking 250,000 ft2. Morgan Stanley, the Quantum Fund, Milstein Properties, and Odyssey Partners all made bids of least $150 million.Henry David August 19, 1993 Buying Big-Time Has skyscraper market hit bottom? 37, 38 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/95011034/buying-big-time-has-skyscraper-market/ February 15, 2022 February 16, 2022 https://web.archive.org/web/20220216023238/https://www.newspapers.com/clip/95011034/buying-big-time-has-skyscraper-market/ live All of the bids were sealed, so none of the competing bidders knew how much the others had paid.Deutsch Claudia H. August 29, 1993 Commercial Property: Auctions; An Old Way of Selling Takes on New Respectability en-US The New York Times https://www.nytimes.com/1993/08/29/realestate/commercial-property-auctions-an-old-way-of-selling-takes-on-new-respectability.html February 15, 2022 0362-4331 January 17, 2018 https://web.archive.org/web/20180117122804/http://www.nytimes.com/1993/08/29/realestate/commercial-property-auctions-an-old-way-of-selling-takes-on-new-respectability.html live Morgan Stanley takeover 1990s thumb|Windows at the building's base The lenders sold 1585 Broadway to the high bidder, Morgan Stanley, for $176 million in August 1993.Pinder Jeanne B. August 12, 1993 Midtown Building Is Sold for Lofty $176 Million en-US The New York Times https://www.nytimes.com/1993/08/12/nyregion/midtown-building-is-sold-for-lofty-176-million.html February 15, 2022 0362-4331 February 15, 2022 https://web.archive.org/web/20220215061915/https://www.nytimes.com/1993/08/12/nyregion/midtown-building-is-sold-for-lofty-176-million.html liveHenry David Bruche Daniel August 12, 1993 Morgan Stanley Picks Plum Buys bankrupt Times Square tower at deep discount 39, 40 Newsday 2574-5298 newspapers.com https://www.newspapers.com/clip/94987861/morgan-stanley-picks-plum-buys-bankrupt/ February 15, 2022 February 15, 2022 https://web.archive.org/web/20220215051835/https://www.newspapers.com/clip/94987861/morgan-stanley-picks-plum-buys-bankrupt/ live This was about half what the building would have cost if it were newly built.Grant Peter September 6, 1993 Times Square's time has come 9 36 11 219117979 Crain's New York BusinessOser Alan S. November 14, 1993 Perspectives; An Investment Firm Gives Its Regard to Broadway en-US The New York Times https://www.nytimes.com/1993/11/14/realestate/perspectives-an-investment-firm-gives-its-regard-to-broadway.html February 15, 2022 0362-4331 January 17, 2018 https://web.archive.org/web/20180117235141/http://www.nytimes.com/1993/11/14/realestate/perspectives-an-investment-firm-gives-its-regard-to-broadway.html live David Solomon said there was a "bittersweet irony" to the sale, as Morgan Stanley had negotiated for space when the building was first being developed. The company had 4,590 workers in Manhattan at the time, having added 400 positions in the past two years.Grant Peter July 16, 1993 Wall Street is increasing space, finally 9 33 1 219132666 Crain's New York Business Morgan Stanley had considered moving to Connecticut but had decided to stay in New York City after being offered $40 million in tax abatements. A spokesman for Cushman and Wakefield said Morgan Stanley's purchase "gave people confidence that the financial community is staying in New York".Deutsch Claudia H. September 12, 1993 Commercial Property/Analyzing Trends; The Only Thing That's Clear Is the Lack of Clarity en-US The New York Times https://www.nytimes.com/1993/09/12/realestate/commercial-property-analyzing-trends-only-thing-that-s-clear-lack-clarity.html February 15, 2022 0362-4331 January 18, 2018 https://web.archive.org/web/20180118150729/http://www.nytimes.com/1993/09/12/realestate/commercial-property-analyzing-trends-only-thing-that-s-clear-lack-clarity.html live The deal continued a revival of Times Square, which had commenced with the previous year's acquisition of 1540 Broadway by entertainment conglomerate Bertelsmann.Gelbtuch Howard February 19, 1996 The ground floor: The times they are a changin' in Times Square and early investors get bargains 76 8 48.1 200987811 Barron's Morgan Stanley's purchase showed that Manhattan's financial center was moving beyond its traditional nexus on Wall Street and the Financial District,Lueck Thomas J. December 27, 1994 Wall Street, No Longer Financial Epicenter, Struggles to Cling to Cachet en-US The New York Times https://www.nytimes.com/1994/12/27/nyregion/wall-street-no-longer-financial-epicenter-struggles-to-cling-to-cachet.html February 15, 2022 0362-4331 January 21, 2022 https://web.archive.org/web/20220121022031/http://www.nytimes.com/1994/12/27/nyregion/wall-street-no-longer-financial-epicenter-struggles-to-cling-to-cachet.html live and it also signified that companies outside the entertainment industry could occupy office space in Times Square. 1585 Broadway already had some space that could be used as trading floors, and the building's electrical system could support the high power requirements of workstations. Morgan Stanley executives had also liked the building's column-free spaces.Kennedy Shawn G. April 25, 1994 New Tenants Around Times Square; Vacancies Drop as Businesses Find Space to Fit Their Needs en-US The New York Times https://www.nytimes.com/1994/04/25/nyregion/new-tenants-around-times-square-vacancies-drop-businesses-find-space-fit-their.html February 15, 2022 0362-4331 February 7, 2022 https://web.archive.org/web/20220207000510/https://www.nytimes.com/1994/04/25/nyregion/new-tenants-around-times-square-vacancies-drop-businesses-find-space-fit-their.html live The firm planned to use the second through sixth floors for its commodities, equities, fixed income, and forex divisions. Even after the acquisition of 1585 Broadway, Morgan Stanley still needed around 250,000 ft2.Grant Peter February 21, 1994 Met Life hawks tower to big broker, others 10 8 3 219178478 Crain's New York Business This prompted the firm to buy 750 Seventh Avenue in 1994Pacelle Mitchell March 28, 1994 Morgan Stanley To Buy Tower In New York --- Midtown Site Would Be Just Around the Corner From New Home Office A9A Wall Street Journal 0099-9660 398496189The Wall Street Journal did not name 750 Seventh Avenue explicitly but said that the building was on Seventh Avenue and 49th Street and was developed by the Solomons. The newspaper also gives a conflicting figure of 200,000 ft2 for Morgan Stanley's space requirements. Crain's New York mentioned both structures by name in 1995.219167467 Behind the Eighth ball: Many firms cheer new porn law, but landlords rely on trade's spoils Slatin Peter 11 43 October 23, 1995 3 Crain's New York Business and to begin developing 745 Seventh Avenue nearby.Galley Catherine C. A Moveable Feast: Times Square and the Emergence of a New Paradigm https://www.acsa-arch.org/proceedings/Annual%20Meeting%20Proceedings/ACSA.AM.91/ACSA.AM.91.4.pdf 24–25 91st ACSA Annual Meeting 0-935502-50-5 Morgan Stanley was still required to place signs on 1585 Broadway's facade once the building was more than 50 percent occupied.Dunlap David W. February 6, 1994 Signs Signal Both Profit and Controversy en-US The New York Times https://www.nytimes.com/1994/02/06/realestate/signs-signal-both-profit-and-controversy.html February 15, 2022 0362-4331 March 21, 2020 https://web.archive.org/web/20200321183635/https://www.nytimes.com/1994/02/06/realestate/signs-signal-both-profit-and-controversy.html live This time, Morgan Stanley executives saw the benefits of getting a deeply discounted space as outweighing the drawbacks of large signs. 1585 Broadway's original architect, Gwathmey Siegel, designed a renovation for the building in 1994 and conducted the renovation the next year. Signs were installed on the exterior; the basement dining room and the executive suite were added; and 2,000 trading desks were added across four stories.Sales Robert Aug 1996 Morgan's global technology drive hits Times Square 8 40 14 206619878 Wall Street & Technology Morgan Stanley received a $100 million tax exemption after it purchased 1585 Broadway and 750 Seventh Avenue.Bagli Charles V. 1997-11-01 Reuters Given Big Tax Deal For Its Project In Times Square en-US The New York Times https://www.nytimes.com/1997/11/01/nyregion/reuters-given-big-tax-deal-for-its-project-in-times-square.html 2022-02-20 0362-4331 September 25, 2021 https://web.archive.org/web/20210925223209/https://www.nytimes.com/1997/11/01/nyregion/reuters-given-big-tax-deal-for-its-project-in-times-square.html live Morgan Stanley began moving into 1585 Broadway in mid-1995,Truell Peter September 7, 1995 For Advisers, Turner Plan Is Already a Big Deal en-US The New York Times https://www.nytimes.com/1995/09/07/business/for-advisers-turner-plan-is-already-a-big-deal.html February 15, 2022 0362-4331 May 26, 2015 https://web.archive.org/web/20150526142111/http://www.nytimes.com/1995/09/07/business/for-advisers-turner-plan-is-already-a-big-deal.html live relocating from 1251 Avenue of the Americas.Oser Alan S. October 22, 1997 Commercial Real Estate; Buildings Are Reshaped After Big Tenants Leave en-US The New York Times https://www.nytimes.com/1997/10/22/nyregion/commercial-real-estate-buildings-are-reshaped-after-big-tenants-leave.html February 15, 2022 0362-4331 May 27, 2015 https://web.archive.org/web/20150527065806/http://www.nytimes.com/1997/10/22/nyregion/commercial-real-estate-buildings-are-reshaped-after-big-tenants-leave.html live Within a year, retail tenants began filling the ground-floor space, including Sunglass Hut and Starbucks.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 February 15, 2022 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 liveMurtha Kerry March 11, 1996 Times Square revs up 12 11 26 219130649 Crain's New York Business The building was also occupied by smaller tenants such as a charitable foundation administered by the estate of the late heiress Doris Duke.Temes Judy April 28, 1997 Duke foundation prepares to grant wishes 13 17 21 219175685 Crain's New York Business Proskauer Rose continued to take up space in 1585 Broadway, as its lease ran for twenty years. The law firm spent $4 million in 1996 to upgrade its technological equipment in 1585 Broadway.Goldstein Matthew July 27, 1998 Power lineup gets law firm off bench 14 30 4 219127516 Crain's New York Business Though Proskauer Rose and Morgan Stanley were the building's only office tenants, they occupied the entire building. Morgan Stanley acquired Dean Witter Financial Services in 1997, and 1585 Broadway became part of Morgan Stanley Dean Witter's "midtown urban campus". The firm of Brennan Beer Gorman Monk designed an information booth for Morgan Stanley Dean Witter within one of 1585 Broadway's storefronts in 1998. The booth consisted of a cube suspended 8 ft above ground, with 18 screens, as well as a ticker above the floor.https://usmodernist.org/AIANY/AIANY-1998-09.pdf About to Play in the Neighborhood Nina Rappaport Sep 1998 6 Oculus 61 1 February 16, 2022 August 9, 2020 https://web.archive.org/web/20200809115143/https://usmodernist.org/AIANY/AIANY-1998-09.pdf live 2000s thumb|View at night, 2008 Proskauer Rose renovated the 19th floor in 2000, adding seven conference rooms and 49 offices by relocating its law library to the sub-basement. The law firm renovated the rest of its space shortly afterward. Following the September 11 attacks in 2001, Morgan Stanley dispersed employees from its Times Square "campus" to reduce the risk created by concentrating of so many workers in a small area.Knox Noelle Moore Martha T. October 24, 2001 'Wall Street' migrates to Midtown; Terrorist attacks speed exodus of brokerages, investment banks from NYC financial district A.01 USA TODAY 408881988Mearian Lucas March 4, 2002 Financial Firms Plan Widely Dispersed IT Operations https://books.google.com/books?id=gRlrJ720UjgC&pg=PT6 IDG Enterprise 7 0010-4841 Computerworld February 15, 2022 February 16, 2022 https://web.archive.org/web/20220216023236/https://books.google.com/books?id=gRlrJ720UjgC&pg=PT6 live Morgan Stanley sold the nearby 745 Seventh Avenue and subleased office space elsewhere in the cityBagli Charles V. October 9, 2001 Morgan Stanley Selling Nearly Completed Office Tower to Lehman for $700 Million https://archive.nytimes.com/www.nytimes.com/2001/10/09/nyregion/09MORG.html January 29, 2026 The New York Times before purchasing the former Texaco Headquarters in White Plains in an effort to disperse its operations.Holusha John 2002-02-27 Commercial Real Estate; Flexible Design Helps Firm Take Over a Building https://www.nytimes.com/2002/02/27/business/commercial-real-estate-flexible-design-helps-firm-take-over-a-building.html 2025-03-31 The New York Times en-US 0362-4331 1585 Broadway's lobby was also closed to the public for security reasons, despite being a privately owned public space that legally had to remain open.Chaban Matt A. V. 2015-09-07 Unwelcome Mat Is Out at Some of New York's Privately Owned Public Spaces en-US The New York Times https://www.nytimes.com/2015/09/08/nyregion/unwelcome-mat-is-out-at-some-of-new-yorks-privately-owned-public-spaces.html 2022-02-22 0362-4331 February 22, 2022 https://web.archive.org/web/20220222020343/https://www.nytimes.com/2015/09/08/nyregion/unwelcome-mat-is-out-at-some-of-new-yorks-privately-owned-public-spaces.html live To protect against vehicular attacks, Morgan Stanley installed planters outside 1585 Broadway in 2004.Dunlap David W. September 23, 2004 Adding Barricades, and Trying to Avoid the Feel of a Fortress en-US The New York Times https://www.nytimes.com/2004/09/23/nyregion/adding-barricades-and-trying-to-avoid-the-feel-of-a-fortress.html February 15, 2022 0362-4331 April 24, 2018 https://web.archive.org/web/20180424005914/https://www.nytimes.com/2004/09/23/nyregion/adding-barricades-and-trying-to-avoid-the-feel-of-a-fortress.html live Morgan Stanley began turning off the building's lights at night in 2005 to reduce the risk of migratory birds crashing into the facade.Lee Jennifer September 23, 2005 Kill the Light, Save a Bird en-US The New York Times https://www.nytimes.com/2005/09/23/nyregion/kill-the-light-save-a-bird.html February 15, 2022 0362-4331 February 11, 2021 https://web.archive.org/web/20210211041844/https://www.nytimes.com/2005/09/23/nyregion/kill-the-light-save-a-bird.html live The planters outside the building were removed in 2006; the New York City Police Department said that the barriers were ineffective at preventing vehicular attacks while also obstructing pedestrian flow.Buckley Cara October 7, 2006 Security Barriers of New York Are Removed en-US The New York Times https://www.nytimes.com/2006/10/07/nyregion/nyregionspecial3/security-barriers-of-new-york-are-removed.html February 15, 2022 0362-4331 September 27, 2021 https://web.archive.org/web/20210927162939/https://www.nytimes.com/2006/10/07/nyregion/nyregionspecial3/security-barriers-of-new-york-are-removed.html live The same year, Morgan Stanley bought a building at 522 Fifth Avenue and relocated its private wealth management and investment management divisions there.Pristin Terry June 28, 2006 Demand for Midtown Office Space Pushes Prices Up en-US The New York Times https://www.nytimes.com/2006/06/28/realestate/commercial/demand-for-midtown-office-space-pushes-prices-up.html February 15, 2022 0362-4331 August 16, 2021 https://web.archive.org/web/20210816223006/https://www.nytimes.com/2006/06/28/realestate/commercial/demand-for-midtown-office-space-pushes-prices-up.html live 2010s to present When Proskauer Rose's lease at 1585 Broadway expired in 2010, the firm sought to relocate to the nearby 11 Times Square rather than renew its lease at 1585 Broadway.Bagli Charles V. May 8, 2010 Lease Deal Near for Empty Times Square Tower en-US The New York Times https://www.nytimes.com/2010/05/08/nyregion/08lease.html February 15, 2022 0362-4331 August 8, 2020 https://web.archive.org/web/20200808224452/https://www.nytimes.com/2010/05/08/nyregion/08lease.html liveTrianovski Anton May 24, 2010 Commercial Property: For Office Market, It's All About Jobs --- Uptick in Hiring Boosts Leasing, but Outlook Remains Unclear; Putting More People in Same Space C24 Wall Street Journal 0099-9660 312852506 Morgan Stanley planned to move into the space Proskauer Rose had vacated. There had been tension between the two tenants, since Proskauer Rose had occupied a comparatively small amount of space in the building while Morgan Stanley had used the structure as its headquarters.Sederstrom Jotham June 1, 2011 East Side Law Firms Go West, as Far as Eighth Ave. en-US The New York Times https://www.nytimes.com/2011/06/01/realestate/commercial/manhattan-law-firms-leave-east-side-for-west-side-frontiers.html February 15, 2022 0362-4331 February 7, 2022 https://web.archive.org/web/20220207150624/https://www.nytimes.com/2011/06/01/realestate/commercial/manhattan-law-firms-leave-east-side-for-west-side-frontiers.html live The financial firm retained its banking and trading divisions in 1585 Broadway but occupied several other structures in the city.de la Merced Michael J. October 19, 2010 Musical Chairs: Morgan Eyes Goldman's Old Building https://dealbook.nytimes.com/2010/10/19/musical-chairs-morgan-eyes-goldmans-old-building/ February 15, 2022 DealBook January 5, 2014 https://web.archive.org/web/20140105125545/http://dealbook.nytimes.com/2010/10/19/musical-chairs-morgan-eyes-goldmans-old-building/ liveIncluding 1 New York Plaza, 85 Broad Street, 750 Seventh Avenue, and 1221 Avenue of the Americas The ground-floor storefront space was leased by tenants such as Skagen and Fossil Group.March 13, 2019 1585 Broadway https://therealdeal.com/new-research/topics/property/1585-broadway/ February 15, 2022 TRD Research February 16, 2022 https://web.archive.org/web/20220216023239/https://therealdeal.com/new-research/topics/property/1585-broadway/ liveSalinger Tobias May 30, 2014 Fossil and Skagen Sign New Times Square Leases https://commercialobserver.com/2014/05/fossil-and-skagen-sign-new-times-square-leases/ February 15, 2022 Commercial Observer November 26, 2020 https://web.archive.org/web/20201126212314/https://commercialobserver.com/2014/05/fossil-and-skagen-sign-new-times-square-leases/ live Morgan Stanley then conducted renovations on 1585 Broadway during the mid-2010s, overhauling one floor at a time.February 10, 2017 Morgan Stanley weighs move to Hudson Yards https://therealdeal.com/2017/02/10/morgan-stanley-weighs-move-to-hudson-yards/ February 15, 2022 The Real Deal New York en-US December 13, 2021 https://web.archive.org/web/20211213071800/https://therealdeal.com/2017/02/10/morgan-stanley-weighs-move-to-hudson-yards/ live The exterior signs were replaced in 2015,Hylton Ondel September 25, 2015 Watch Videos of Morgan Stanley's New Times Square LED Screens That Replaced Its Iconic Zipper https://www.6sqft.com/watch-videos-of-morgan-stanleys-new-times-square-led-screens-that-replaced-its-iconic-zipper/ March 31, 2025 6sqft and a 750 kW on fuel cell was installed at the building the next year.January 12, 2016 Bloom Energy to Install First−Ever Highrise Project at Morgan Stanley Global Headquarters in New York City https://money.cnn.com/news/newsfeeds/articles/prnewswire/SF96407.htm February 15, 2022 CNN February 16, 2022 https://web.archive.org/web/20220216023239/https://money.cnn.com/news/newsfeeds/articles/prnewswire/SF96407.htm dead By early 2017, Morgan Stanley contemplated relocating to the new Hudson Yards development. The firm was also looking for other office space around Manhattan. Morgan Stanley stipulated that if it signed a lease with any landlord, then that landlord had to buy 1585 Broadway and 522 Fifth Avenue.Bockmann Rich October 6, 2017 Morgan Stanley's search for a 1.9M sf office comes with a catch https://therealdeal.com/2017/10/06/morgan-stanleys-search-for-a-1-9m-sf-office-comes-with-a-catch/ February 15, 2022 The Real Deal New York en-US January 1, 2022 https://web.archive.org/web/20220101211401/https://therealdeal.com/2017/10/06/morgan-stanleys-search-for-a-1-9m-sf-office-comes-with-a-catch/ liveRothstein Matthew October 9, 2017 Morgan Stanley Wants Its Next Landlord To Buy Its Current Offices https://www.bisnow.com/new-york/news/office/morgan-stanley-new-hq-sell-1585-broadway-80083 February 15, 2022 Bisnow April 20, 2021 https://web.archive.org/web/20210420040830/https://www.bisnow.com/new-york/news/office/morgan-stanley-new-hq-sell-1585-broadway-80083 live Morgan Stanley could not find a buyer for 1585 Broadway, though it did manage to sell 522 Fifth Avenue in 2020.March 17, 2020 Aby Rosen's RFR to Buy Morgan Stanley's 522 Fifth Avenue https://therealdeal.com/2020/03/17/rfr-to-buy-morgan-stanleys-522-fifth-avenue-for-350m/ February 15, 2022 The Real Deal New York en-US March 1, 2021 https://web.archive.org/web/20210301232713/https://therealdeal.com/2020/03/17/rfr-to-buy-morgan-stanleys-522-fifth-avenue-for-350m/ live Morgan Stanley retained ownership of 1585 Broadway, even after the onset of COVID-19 pandemic in New York City, when other companies were selling or subletting their space.Acitelli Tom March 22, 2021 Morgan Stanley Planning 'Full Return' of Its Employees to Midtown HQ https://commercialobserver.com/2021/03/morgan-stanley-planning-full-return-of-its-employees-to-midtown-headquarters/ February 15, 2022 Commercial Observer August 18, 2021 https://web.archive.org/web/20210818174505/https://commercialobserver.com/2021/03/morgan-stanley-planning-full-return-of-its-employees-to-midtown-headquarters/ liveMarch 22, 2021 Morgan Stanley Plans "Full Return" to Office Post-Pandemic https://therealdeal.com/2021/03/22/morgan-stanley-plans-full-return-to-office/ February 15, 2022 The Real Deal New York en-US June 18, 2021 https://web.archive.org/web/20210618104144/https://therealdeal.com/2021/03/22/morgan-stanley-plans-full-return-to-office/ live In the mid-2020s, the facade of the lower stories was replaced as part of a renovation designed by Gensler, and the exterior displays from 2015 were removed. In February 2025, New York YIMBY estimated the renovation to wrap up sometime in the second half of that year.Young Michael Pruznick Matt February 26, 2025 Renovation Work Continues on Morgan Stanley HQ at 1585 Broadway in Times Square, Manhattan https://newyorkyimby.com/2025/02/renovation-work-continues-on-morgan-stanley-hq-at-1585-broadway-in-times-square-manhattan.html March 31, 2025 New York YIMBY A subsequent update in January 2026 shows how the LED support structure has been assembled over the re-cladded, two-tiered base. The curved corners of the framework suggests some of the new LED billboards will share the same look as the curved displays from before the renovation.Young Michael Pruznick Matt 2026-01-04 Morgan Stanley Headquarters Continues Renovations at 1585 Broadway in Times Square, Manhattan https://newyorkyimby.com/2026/01/morgan-stanley-headquarters-continues-renovations-at-1585-broadway-in-times-square-manhattan.html 2026-01-06 New York YIMBY en-US Renovation work is expected to be complete by the second half of 2026. Reception According to architectural writer Robert A. M. Stern, 1585 Broadway's facade was "a welcome departure from the stone-clad Postmodern towers of the 1980s", and it earned many accolades. Paul Goldberger wrote for The New York Times: "For this building has a real facade, designed to stand on its own, that looks reasonable even when not a square inch of the sign space is rented." At the end of 1991, Goldberger dubbed 1585 Broadway as the "best nearly empty building of the year".Goldberger Paul December 29, 1991 It's a Fine Design and All, But That's Sure a Funny Name For a Building en-US The New York Times https://www.nytimes.com/1991/12/29/arts/year-arts-architechure-1991-it-s-fine-design-all-but-that-s-sure-funny-name-for.html February 14, 2022 0362-4331 February 14, 2022 https://web.archive.org/web/20220214203349/https://www.nytimes.com/1991/12/29/arts/year-arts-architechure-1991-it-s-fine-design-all-but-that-s-sure-funny-name-for.html live In 1992, Herbert Muschamp of the Times described 1585 Broadway as "a square chaperone dressed in starchy gray, peering down sternly at the indecorous doings in the street below".Muschamp Herbert August 6, 1992 For Times Square, A Reprieve and Hope Of a Livelier Day en-US The New York Times https://www.nytimes.com/1992/08/06/arts/for-times-square-a-reprieve-and-hope-of-a-livelier-day.html February 15, 2022 0362-4331 February 15, 2022 https://web.archive.org/web/20220215061912/https://www.nytimes.com/1992/08/06/arts/for-times-square-a-reprieve-and-hope-of-a-livelier-day.html live Ada Louise Huxtable characterized the building as "a stunning event", saying the design "carries the sheer, sleek precision of the modernist curtain wall to new intricacy and richness". Eve M. Kahn of The Wall Street Journal described 1585 Broadway as a "water-green, restrained corporate monolith".Kahn Eve M. June 9, 1992 Architecture: Empty New High-Rises Preserve Anarchy of Broadway A14 Wall Street Journal 0099-9660 398261212 After the building was renovated, Stanley Abercrombie wrote for Interior Design magazine in 1996: "Above the signage area, the tower is a cool, symmetrical shaft [...] continuing the downstairs glitter with quiet composure". Of the interior, Abercrombie wrote that Gwathmey Siegel had reconciled "a potentially overwhelming number of difficult and sometimes opposing demands into a work of architecture and interior design that appears seamless, coherent, and inevitable" while "making it all look easy".Abercrombie 1996 132 . When 3 Times Square was being built on the opposite end of Times Square in 1998, Muschamp wrote that 1585 Broadway was the only new building in the area that "has broken boldly out of the mold of commercial design" prior to 3 Times Square's construction.Muschamp Herbert March 8, 1998 Architectural Order Graces a Chaotic Hub en-US The New York Times https://www.nytimes.com/1998/03/08/nyregion/architectural-order-graces-a-chaotic-hub.html February 15, 2022 0362-4331 September 27, 2021 https://web.archive.org/web/20210927004804/https://www.nytimes.com/1998/03/08/nyregion/architectural-order-graces-a-chaotic-hub.html live See also architecture New York City List of buildings and structures on Broadway in Manhattan List of tallest buildings in New York City References Notes Citations Sources Abercrombie Stanley Sep 1996 How to succeed in business 67 11 126–132 234946214 Interior Design https://www.gwathmey-siegel.com/pdf/199401.pdf Morgan Stanley Dean Witter and Co. World Headquarters, New York, New York Gwathmey Siegel & Associates Architects https://web.archive.org/web/20190819164657/https://www.gwathmey-siegel.com/pdf/199401.pdf August 19, 2019 Gwathmey Siegel live 2000 External links Category:1990 establishments in New York City Category:Broadway (Manhattan) Category:Emery Roth buildings Category:Morgan Stanley Category:Office buildings completed in 1990 Category:Skyscraper office buildings in Manhattan Category:Times Square buildings Category:Leadership in Energy and Environmental Design gold certified buildings Category:Financial services company headquarters in the United States