L.H. Charney Associates announced the firm leased just over
67,000 s/f at 1410 Broadway and 10 Times Square during the pandemic.
Working with Colliers, the property owner signed a new,
long-term expansion and extension with the social justice organization, Wellspring
Philanthropic Fund for nearly 27,000 s/f. The deal brings Wellspring’s total
footprint in 10 Times Square to more than 43,000 s/f.
Charney will also welcome Darden Restaurants-owned Yard House Restaurant, which signed a 19,000 s/f lease at 10 Times Square (aka 1441 Broadway) in December 2019, is set to open this summer.
Other new tenants include Emmaus Life Sciences, Ivan Gittardi CPA, Mango USA Inc and Atlantic Hosiery.
“While the past year has certainly been a challenge, the
activity that we have seen over the past couple of months is encouraging and is
indicative of our firm’s vision for these properties and for Manhattan in
general,” said Joseph Giannola, who joined L.H. Charney as chief operating officer
in late 2020 from MHP Real Estate.
“While work habits will change and evolve, New York City
will endure as one of the world’s office centers.”
Colliers executive managing director Rick Doolittle and director JP Howard represented L.H. Charney in each of the transactions at the two, Class-A Midtown office buildings, which have recently undergone $50 million in capital improvements.
The renovations to 10 Times Square include a new lobby and entrance, which features a multi-floor glass facade, grand entry foyer and new reception area. 1410 Broadway has new elevators, renovated corridors, bathrooms and lobby space. At 1410 Broadway, L.H. Charney employed renowned artists to contribute various murals and visionary artwork to the lobby and throughout the building.
The completion of renovations and reintroduction of the
buildings to the market has been overseen by Giannola. Doolittle and Howard,
who joined Colliers earlier this year, have been the leasing agents for the two
buildings for the past 11 years.
“We’re really seeing a spring awakening here in terms of
tenants getting back out into the market,” said Doolittle. “As the vaccine
rollout continues to progress, we’re confident that we will see even more
employers plotting their course to get back to the office.
“While that return may entail some type of hybrid work
scenario, properties like 1410 Broadway and 10 Times Square are positioned for
success given their proximity to mass transit and their best-in-class ownership
and features.”
1410 Broadway is a 394,000 s/f Class-A property and 1441
Broadway is a 554,000 s/f Class-A building. Both are located equidistant to
Penn Station and Grand Central and steps from Bryant Park.
