GFP Real Estate, LLC is pleased to announce that the Times Square Alliance, a non-profit that “works to improve and promote Times Square – cultivating the creativity, energy and edge that have made the area an icon of entertainment, culture and urban life for over a century,” has signed a 10-year lease for 4,924 square feet on the ninth floor 1560 Broadway in Times Square.
A tenant since 1994, Times Square Alliance’s new lease brings the non-profit’s total footprint at the iconic building to 15,289 square feet. Times Square Alliance concurrently extended its existing lease for 10,365 square feet of office space on the 10th floor to co-terminate with its new ninth floor space, which will be used for offices, storage and Alliance personnel who work in the field during the day.
Alan Steinberg of GFP Real Estate represented the landlord, 1560 Broadway Company LLC, and the tenant, Times Square Alliance, in the transaction. Ownership will white box the new ninth floor space for the Alliance, which will then construct a new internal staircase in the space connecting to its existing offices on the 10thfloor.
“Times Square Alliance has transformed Times Square over the past 30 years, improving the quality of life for local residents and business owners while maintaining the area as the number one destination for those visiting New York City,” said Alan Steinberg, senior managing director of GFP Real Estate. “Times Square Alliance’s new, much-needed space will help the organization continue to serve New York City and its residents for many years to come.”
Built in 1925 and designed by the Bethlehem Engineering Corporation, 1560 Broadway is a historic, 17-story 271,000-square-foot building located in the heart of Times Square. Home to Actors’ Equity, 1560 Broadway underwent major redevelopment in 2014 and was connected to the neighboring landmarked I. Miller Building by architects Rosen Johnson. The ambitious project included the addition of a monumental new office entrance, a 100-foot-long fourth floor sky lobby, and the opening of four contiguous floors of prime Times Square retail space, created by moving the original office entrance, to deliver significant street presence.
Positioned at the center of the Theater District, 1560 Broadway is a landmark of commerce that now takes an even more prominent place in this always vibrant location, drawing people to world-renowned shows, major retailers, and a multitude of eateries. Numerous subway lines at nearby 42nd St-Times Square, Rockefeller Center, 49th Street and Port Authority provide fast transportation links with all areas of Manhattan and beyond.