Levin Management Corporation, which serves as owner representative for New York City’s Paramount Building with Manhattan-based Rosemark Management, has tapped CBRE to be the exclusive office leasing agent for the iconic Manhattan office property at 1501 Broadway.
The Paramount Building, first completed in 1926 as the East Coast headquarters of Paramount Pictures and once the tallest building in Manhattan, underwent $50 million worth of award-winning capital improvements in 2019. Newly reimagined interiors combine the landmarked historic exterior with modern aesthetics to create an unparalleled environment that incorporates more than 87,000 square feet of retail and roughly 607,000 square feet of rentable office space.
Additional capital improvements included a relocation of the office lobby from Broadway to 43rd Street; the installation of new escalators and elevators; new windows throughout the building; and seamless facial recognition access at the lobby.
A historical gem in the heart of Times Square, the 33-story building is located on Broadway between 43rd and 44th streets — a very transit-oriented location that’s within one-quarter of a mile of three public transportation stations. The building’s retail segment has long been home to dining icons such as Hard Rock Café, Bubba Gump Shrimp Co., and Carmine’s.
The landmarked Art Deco and Beaux-Arts styles facade of the Paramount Building at 1501 Broadway in Manhattan was preserved during the most recent capital improvements at the property.
Existing office tenants are a diverse mix that includes theater and entertainment producers; directors; technology; advertising; media and information; engineering; financial and law firms, as well as non-profits.
A team of Ryan Alexander, Jared Isaacson, Sam Spillane, and Taylor Walker have been charged to lead the office leasing campaign on behalf of the building’s ownership. To prospective tenants, the Paramount Building currently offers spaces between 500 and 50,000 rentable square feet of premium New York City office space, including partial- and full-floor, pre-built and white-boxed spaces.
“We are thrilled to be working with ownership in bringing this one-of-a-kind, upgraded and amenitized historic property to the market,” Alexander said. “Ownership has truly outdone itself with their comprehensive hospitality and design forward-built program, which will revolutionize our leasing efforts. Current pre-builds range from 2,000 to 40,000 square feet, offering a wide range of spaces for different users.”
The Paramount Building in the Theatre District of Manhattan incorporates more than 600,000 square feet of rentable New York City office space.
