WATCH: How to build a multi-billion dollar billboard, according to TSX Broadway

The project is backed by all-star investors including SoftBank's Masa Son

TRD New York /
May.May 09, 2019 01:00 PM

UPDATED Friday, May 10, 7:01 p.m.: TSX Broadway may become the largest billboard the world may have ever seen.

The mixed-use project developed by L&L Holding Company, Fortress Investment Group and Maefield Development also contains a landmarked theater and, once completed in 2022, will have a permanent stage facing out to Times Square, along with a 669-key hotel and 75,000 square feet of retail.

The LED-lighting system will be built into the skin of the building.

“Companies like Netflix are literally buying billboard companies. A fully online business thinks that the best way to connect with their customers is on a sign, out in public where they can fully engage with them,” said Dave Orowitz, managing director at L&L Holding Company.

Developers claim the finished building will be worth $4.2 billion.

The project raised $2.5 billion in financing from investors including SoftBank Group’s Masa son, UBS Group AG (notably, the 46-story tower is the Zurich-based bank’s largest ever single asset investment), and a handful of the developers have skin in the game too. L&L co-founders David Levinson and Robert Lapidus, as well as Fortress executives Peter Briger and Dean Dakolias.
Construction began in January. Check out the video above to see the project’s progress and what its facade-turned-screen will be able to do.

Text by Erin Hudson

Editor’s Note: A quote in the third paragraph was previously misattributed to Lana Lenar.


Related Articles

arrow_forward_ios
What will proptech look like in 2019 and beyond?

What will proptech look like in 2019 and beyond?

What will proptech look like in 2019 and beyond?
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)

Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere

Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Inside South Florida’s mall, retail and restaurant reopenings

Inside South Florida’s mall, retail and restaurant reopenings

Inside South Florida’s mall, retail and restaurant reopenings
“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space
Frederick Arnold, formerly of Convergex and Alex Dimitrief, formerly of General Electric (Getty, Twitter Navient)

Tensions brew on WeWork’s board with appointment of new members

Tensions brew on WeWork’s board with appointment of new members
Facebook CEO Mark Zuckerberg (Getty)

“Large pools of talent”: Mark Zuckerberg touts remote-work plan

“Large pools of talent”: Mark Zuckerberg touts remote-work plan
The Real Deal's E.B. Solomont and Brown Harris Stevens' CEO Bess Freedman

The Interview: Bess Freedman on how resi firms will look post-Covid

The Interview: Bess Freedman on how resi firms will look post-Covid
Softbank's Marcelo Claure, Masayoshi Son and Rajeev Misra (Getty; iStock)

Internal feud at SoftBank casts doubt on Vision Fund

Internal feud at SoftBank casts doubt on Vision Fund
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...