{"id":52164,"date":"2026-08-21T07:54:53","date_gmt":"2026-08-21T04:54:53","guid":{"rendered":"https:\/\/www.commercialcafe.com\/blog\/?p=52164"},"modified":"2026-08-19T11:04:02","modified_gmt":"2026-08-19T08:04:02","slug":"comcast-moves-into-new-times-square-office","status":"publish","type":"post","link":"https:\/\/www.commercialcafe.com\/blog\/comcast-moves-into-new-times-square-office\/","title":{"rendered":"Comcast Moves Into New Times Square Office"},"content":{"rendered":"

Telecommunications giant Comcast sealed a 141,000-square-foot lease at 1540 Broadway in Times Square. The company is set to occupy floors 27 through 31 of the BDT & MSD Partners and GFP Real Estate-owned office space in Manhattan, N.Y.(opens in new tab)<\/span><\/a> The move marks a relocation and consolidation push from Comcast, which previously conducted its advertising sales and technology division\u2019s operations from Shorenstein Properties\u2019 1407 Broadway and BGRE\u2019s 55 W. 46th<\/sup> St.<\/p>\n

A Savills\u2019 team of Gabe Marans, Jay Joyce, and Greg Bante negotiated the agreement on behalf of the tenant, while Frank Doyle, Clark Finney, Mike Pallas and Carlee Palmer of JLL, along with GFP\u2019s Allen Gurevich, represented the landlord. According to sources, the asking rent was around $90 per square foot(opens in new tab)<\/span><\/a>.<\/p>\n

\u201cTenants continue to gravitate toward buildings that combine exceptional ownership, modern amenities, efficient floor plates, and premier accessibility, and 1540 Broadway has emerged as one of the strongest examples of that trend,\u201d Finney said.<\/p>\n

Other tenants in the 907,000-square-foot tower, previously known as Bertelsmann Building, include Woori Bank New York Agency \u2014 a Korean bank that signed a lease for 19,000 square feet \u2014 and Pandora Jewelry, which renewed and expanded its lease to 56,000 square feet(opens in new tab)<\/span><\/a> at the start of the year. Adobe and pharmaceuticals developer Schrodinger are also part of the roster.<\/p>\n

Developed by Bruce Eichner, the 44-story office tower \u2014 which sits at the intersection of Broadway and Seventh Avenue \u2014 has changed hands several times throughout the years, particularly in the years leading up to the 2008 financial crisis.<\/p>\n

In 2004, Bertelsmann sold the asset to Paramount Group, followed by another couple of quick sales to Equity Office and then Macklowe Properties in 2006 and 2007, respectively.<\/p>\n

Then, Edge Funds, under the leadership of Mark Keller and Gary Siegel, bought the office portion of the property in 2010 together with HSBC Alternative Investments.<\/p>\n

Currently, 1540 Broadway \u2014 which also has 162,000 square feet of retail space owned by Vornado Realty Trust \u2014 is undergoing a $150 million overhaul led by GFP. The upgrades include 45,000 square feet of amenities on the building\u2019s eighth and 36th floors.<\/p>\n

\u201cThe decision by Comcast and others to locate their employees here reflects what we\u2019re hearing throughout the market \u2014 companies continue to prioritize high-quality office environments that help attract talent, foster collaboration and support long-term growth,\u201d\u00a0said GFP Development\u00a0CEO,\u00a0Brian Steinwurtzel. \u201cWith additional transactions in advanced discussions, we expect the remaining space to be substantially leased by year-end.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Comcast sealed a 141,000-square-foot lease at 1540 Broadway in Times Square. The move marks a relocation and consolidation push from Comcast, which previously conducted its advertising sales and technology division\u2019s operations from Shorenstein Properties\u2019 1407 Broadway and BGRE\u2019s 55 W. 46th St.<\/p>\n","protected":false},"author":56,"featured_media":52166,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[37,38,4014,39],"tags":[],"class_list":["post-52164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-real-estate-news","category-deals","category-featured","category-office","wpautop"],"acf":[],"yoast_head":"\nComcast Moves Into New Times Square Office - CommercialCafe<\/title>\n<meta name=\"description\" content=\"Comcast sealed a 141,000-square-foot lease at 1540 Broadway in Times Square. 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