Riese to sell piece of Times Square bow tie

The Riese Organization is selling its landmarked I. Miller Shoe Building at 1552 Broadway, which contains 15,000 square feet, some air rights, and the foot traffic guarantee that comes with a location on Times Square’s bow tie. The building, on the northeast corner of 46th Street and near Seventh Avenue, is currently home to a TGIFriday’s and has two billboards that can be upgraded to LED signs, plus approval for a third sign. For entertainment history buffs, there are statues of actresses Ethel Barrymore, Marilyn Monroe, Mary Pickford and Rosa Ponsella on the second floor. Riese has tapped Jones Lang LaSalle’s Capital Markets team — Jon Caplan, Richard Baxter, Ron Cohen and Scott Latham — to market the property. [Post]