Normandy Real Estate Partners, one of the largest real estate developers, owners and operators of commercial office buildings nationally, today announced new leasing activity of approximately 50,000 square feet at 1370 Broadway, a premier Manhattan office building that Normandy recently acquired in April. These long term leases come as Normandy also announced that the 16 story, 280,000 square foot property located in the Times Square South submarket will undergo an extensive capital improvement program.
New leases at 1370 Broadway include Collection 18, a leader in design, brand, licensing and product development in the fashion accessory industry, which signed a long term lease for 33,580 square feet on the property’s top two floors. Brainerd Communicators, an independent, full-service strategic communications consultancy, signed a lease for 7,100 square feet. Espirit, a global manufacturer of apparel, footwear, accessories, jewelry and housewares, relocated from other spaces to the building’s 14th floor, leasing 6,000 square feet in a ten year deal. These companies are part of a prestigious roster of tenants that occupy 1370 Broadway, including the global factoring and finance company Rosenthal & Rosenthal.
Under Normandy’s capital improvement program, enhancements to the building interior include upgraded elevators cabs and a revamped lobby atrium with new finishes, including a glass entry highlighted by a classic yet modern illuminated canopy with new revolving doors.
“Since acquiring 1370 Broadway earlier this year, we’ve been working diligently to showcase this classic building to prospective tenants and have been utilizing our operating platform to improve this property’s profile in the market,” said Paul H. Teti, Senior Vice President at Normandy Real Estate Partners. “We’re seeing real excitement from current and prospective tenants – just four months after acquiring the property and before we have even commenced the capital improvement program. We’re thrilled to have new leases with three high-quality companies in Collection 18, Brainerd Communicators, and Espirit.”
1370 Broadway is located close to some of Manhattan’s top retail and office submarkets including Bryant Park, Times Square and the retail hub of Herald Square at 34th street, while enjoying close proximity to both Penn Station and Grand Central Station. Its central location, along with the abundance of technology and retail growth in the area, creates an ideal and convenient place for companies to operate.