Los Angeles-based real estate and infrastructure owner, operator, lender and developer CIM Group recently announced the execution of two new office space leases at its 1440 Broadway property in Midtown Manhattan: The landlord signed a total of 70,000 square feet of Manhattan office space for rent to Land’n Sea and CNY Group.
Specifically, New York City construction and development services firm CNY Group has agreed to a 34,025-square-foot office space at the property. The leased space is located on the fourth floor and will serve as the company’s headquarters. Land’n Sea took a similarly-sized office lease on the third floor of the building. The transactions were handled by a partnership between CIM Group’s in-house leasing team and CBRE. No further transaction details were included in the announcement.
Located between Manhattan’s Bryant Park and Times Square, 1440 Broadway anchors the corner of Broadway and 40th Street. The building was originally completed in 1924 and underwent a complete renovation in 2001, as well as a cosmetic renovation in 2018. Moreover, the property just recently completed a capital improvement program, which included a notable renovation of the 40th Street entrance to create a modern, spacious and brightly lit lobby, as well as the addition of a rooftop deck with views of nearby Bryant Park, Times Square and the Hudson River.
The 756,732-square-foot commercial property is LEED Gold-certified and encompasses roughly 733,000 square feet of Midtown Manhattan office space, in addition to 24,000 square feet of retail that benefits from the location’s major street exposure along the popular Broadway thoroughfare. Tenants in the building enjoy access to premium amenities, including a tenant lounge, more than 21,000 square feet of outdoor terraces and best-in-class digital connectivity that has earned it a WiredScore Gold certification.
“1440 Broadway provides many of the most sought-after features for businesses making location decisions today, such as an expansive outdoor rooftop common area, private outdoor terraces with many suites and large floors to create airy workspaces,” said Co-Founder and Principal of CIM Group, Shaul Kuba. “Further, Bryant Park is within an easy stroll, allowing tenants at 1440 Broadway to take advantage of this appealing gathering spot.”