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NEW YORK CITY - New York Outdoor, Inc., an outdoor advertising service, and accounting firm Louis Sternbach & Co. have signed long-term renewals at W&H Properties' 1333 Broadway, announces Fred C Posniak, senior vice president of W&H Properties.
Both firms occupy space on the building's fifth floor, in suites containing approximately 13,000 square feet and 4,000 square feet, respectively.
“I can't think of a better time for a tenant to renew at 1333 Broadway," says Mr. Posniak. "We just completed a $71-million program of upgrades, transforming the property into an elegant and prestigious business environment. In addition, the property's ownership has an exceptionally strong financial track record, which provides security at a time when there is a great deal of uncertainty in the market. Ownership has a reputation for delivering on promises. Existing tenants can count on - and are eager to plan - a long-term future at the building."
Jonathan Fanuzzi, managing director of Newmark Knight Frank, represented the landlord in the renewal negotiations for both New York Outdoor and Louis Sternbach & Co., along with Brandl Frey of Newmark Knight Frank.
Situated in the center of the Penn Plaza District, steps away from Macy's flagship location, 1333 Broadway contains 12 stories and 350,000 square feet. It offers unsurpassed access to the Long Island Rail Road, New Jersey Transit, Amtrak, the Port Authority Terminal, the PATH and fifteen subway lines.
The $71-million upgrade program that was recently completed at the building encompasses a new lobby, including the restoration of the lobby ceiling and elegant marble finishes, new modern restrooms, the addition of two new elevators and renovation of the three existing passenger elevators and freight elevators, new energy-efficient windows, renovated air-conditioned public corridors, and upgrades to all building systems, including state-of-the-art electrical, plumbing, HVAC and security.
Part of the W&H Properties portfolio, the building is owned by 1333 Broadway Associates, L.L.C, a partnership led by Peter L. Malkin and Anthony E. Malkin.
Available spaces range from efficient full floors of 30,000 square feet, partial floors from 5,000 - 15,000 square feet, and our W&H portfolio standard high-end pre-built units from 3,000 – 8,000 square feet. Broker commissions are paid in full at lease signing.
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