The Real Deal New York

1407 Broadway leasehold hits market for $330M

Abraham Kamber, Lightstone control lease at Midtown tower

December 10, 2014 11:00AM

Clockwise from left: 1407 Broadway, David Lichtenstein and Woody Heller

Clockwise from left: 1407 Broadway, David Lichtenstein and Woody Heller

Abraham Kamber & Company and the Lightstone Group are looking to sell the long-term leasehold at 1407 Boadway for more than $330 million.

David Lichtenstein’s Lightstone controls the operating sublease at the 1.1 million-square-foot office tower, while Abraham Kamber controls the master lease. Solil Management owns the ground beneath the property, located between West 38th and 39th streets.

A Savills Studley team led by Woody Heller and Will Silverman are marketing the leasehold.

The tower occupies a full blockfront and features 33,000 square feet of retail, the New York Post reported. Lightstone paid $122 million for the sublease in 2006, the newspaper said. [NYP]Mark Maurer

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