The Real Deal New York

Broadway theater operator books floor in Paramount Building

Nederlander Organization relocating from 1450 Broadway
June 04, 2014 11:00AM

The Nederlander Organization, an operator of several Broadway theaters, signed a lease for 18,700 square feet at the Paramount Building at 1501 Broadway.

The owners, a partnership of Levin Properties and other investors, added the company to the 14th floor. Asking rents go from the low $60s to the $70s throughout the building. The landlords are in the process of a $50 million renovation there. The Nederlander Organization would move from 1450 Broadway, near West 41st Street.

Newmark Grubb Knight Frank brokers Lance Korman, Brent Ozarowski and Brian Waterman represented the tenant, while an Avison Young team of Arthur Mirante II, Thomas Hines, Michael Gottlieb and David Cohen represented the owners. [NYP]Mark Maurer