Broadway Partners | The Real Deal New York

The Real Deal New York

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Broadway Partners

1 Pennsylvania Plaza #4625
New York, NY 10119
(212) 810-4900
Website
investor.relations@broadwaypartners.com

Broadway Partners is privately-held real estate investment and management firm founded in 1999 by Scott Lawlor and headquartered in New York City. It made its first New York investment in 2006, a $216 million acquisition of 660 Madison Avenue, home of upscale department store Barneys New York. In the boom years in the run up to the global financial crisis, Broadway Partners made a series of acquisitions, of 237 Park Avenue, 100 Wall Street, 340 Madison Avenue, and 280 Park Avenue. When credit conditions tightened and New York property prices fell, Broadway defaulted on short-term loans for several properties. The firm was forced to sell properties, which by this time had lost tremendous value. Broadway Partners managed to hold on to a pared-down portfolio. TA


10/06/17
...at the 522 Fifth Avenue office condo from landlord Broadway Partners at a reported value of $468 million. Last month, the bank renewed a little more...

01/17/15
...like Harry Macklowe and the folks over at Broadway Partners spent money like overindulged housewives with platinum cards. Click here to read the full...

01/29/14
...of the building from Scott Lawlor’s financially-troubled Broadway Partners. The REITs then tapped CBRE to handle leasing at the building, rather than pick...

...Jonathon Yormak, 41, and David Peretz, 34, both worked at Broadway Partners before the aggressive investment firm lost most of its holdings during the recession. In...

02/13/13
...on the troubled asset and recovered it from Broadway Partners. Scott Rechler, RXR’s chief executive, told Crain’s that he would invest several...

04/11/12
...seeks $8B valuation as it readies for IPO  7. Broadway Partners defectors bring once-troubled 256 West 38th Street to 90 percent occupied with recent 45,000-square-foot lease 8. Queens...

03/09/12
...Fund formed a joint venture with prior owners Broadway Partners and RXR Realty to recapitalize 340 Madison Avenue, a 750,000-square-foot office tower near Grand Central...

02/17/12
...and business partner David Peretz, both formerly of Broadway Partners, purchased the building last summer for around $30 million, or $250 per square foot. Rents at...

01/18/12
...troubled landlords. At 280 Park Avenue, owners Invesco and Broadway Partners were running out of reserves, before Vornado and SL Green stepped in. The fact...

01/09/12
...City's largest REITs, took the debt from co-owners Broadway Partners and Investcorp Bank, who also bought the asset in a frothy market. A package...

12/19/11
...the building, and eventually wrestled away control from Broadway Partners, which was beset with debt after it purchased the building for $1.2 billion at the...

09/12/11
...From left: Broadway Partners CEO Scott Lawler, 280 Park Avenue and 450 West 33rd Street Recapitalizations are driving the Manhattan...

05/26/11
...buying it for $3.23M 4. Apollo Global Management and Broadway Partners offer $1.68B for US holdings of Charter Hall Office REIT 5. LCOR has finally signed...

05/18/11
...joint venture after it was revealed that owner Broadway Partners was running short on reserves and had begun seeking a capital infusion. They'll pour...

04/28/11
...of the city out of real estate downturn 9. Broadway Partners forms joint venture with Brookfield Office Properties for its 450 West 33rd Street property 10. Former...

04/11/11
...trusts might inject into the 1.2 million-square-foot building, which Broadway Partners and Investcorp purchased for $1.2 billion in 2007, and the deal could still fall through. Payments...

03/18/11
...owner, defaults. Lehman Brothers took the property from Broadway Partners in 2009 when the firm couldn’t pay its debts on the building; however the...

03/18/11
...one week after it was reported that owner Broadway Partners, which bought 280 Park Avenue with Investcorp for $1.2 billion at the height of the real...

03/10/11
...Scott Lawlor’s Broadway Partners is seeking a capital infusion at 280 Park Avenue as the building’s interest reserves...

12/29/10
...Real Estate Partners and Five Mile Capital Partners. Broadway Partners bought the building in 2006 for $1.3 billion, but lost it after defaulting on its loans...

08/04/10
...to finance the purchase of the tower by Broadway Partners, retaining $437 million of the debt on its own books. Lehman also has spent nearly...

07/26/10
...feet at 280 Park Avenue, which Is Owned By Broadway Partners, but the lease expires in 2012 and it is now planning to sign on for...

06/08/10
...permission in Bankruptcy Court to invest $255 million in Broadway Partners...

...debt was secured by seven properties owned by Broadway Partners. In the end, Broadway paid off the debts on five of the properties. Normandy...

04/28/10
...has stepped up to the plate to buy Broadway Partners...
  • Event Sales
  • Address 6661 Broadway
  • Neighborhood Riverdale
  • Borough Bronx
  • Square feet 4,750
  • Price $ 1,475,000
notes
The single-story retail center was sold for $1.47 million.
  • Event Office Leasing
  • Address 1 Penn Plaza
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 13,575
notes
The asset management firm subleased space.
  • Event Financing
  • Address 340 Madison Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 750,000
notes
A $315 million loan was arranged at a 12-year fixed rate to refinance the property. 22-story office building.
  • Event Office Leasing
  • Building Name West Building
  • Address 280 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 17,320
notes
The private equity firm signed an expansion lease for the 22nd floor. The company already occupies the entire 23rd floor.
  • Event Office Leasing
  • Building Name West Building
  • Address 280 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 8,660
notes
The private bank and wealth management firm signed a 10-year lease to relocate to the entire 29th floor from a smaller space on the second floor.
  • Event Office Leasing
  • Building Name West Building
  • Address 280 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 8,660
notes
The venture firm signed a lease for the entire 26th floor. The tenant is relocating from 750 Third Avenue.
  • Event Office Leasing
  • Building Name West Building
  • Address 280 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 8,600
  • Price per foot $ 85.00
notes
The bank signed a 10-year lease on the 35th floor.
  • Event Sales
  • Address 340 Madison Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 35,625
  • Price $ 570,000,000
  • Price per foot $ 16,000.00
notes
The building went into contract for around $570 million, or $760 per square foot. Broadway Partners purchased the property in 2006 for about $590 million.
  • Event Office Leasing
  • Address 450 West 33rd Street
  • Neighborhood Hudson Yards
  • Borough Manhattan
  • Square feet 25,000
notes
The footwear importing company signed an eight-year lease renewal for part of the ninth floor.
  • Event Office Leasing
  • Address 340 Madison Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 11,119
notes
The social networking site inked a three-year lease to relocate its New York sales team. The tenant is moving to the Broadway Partners-owned building from 551 Fifth Avenue.
  • Event Retail Leasing
  • Address 450 West 33rd Street
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 15,000
  • Publication Date 04/01/2009
  • Event Date 02/20/2009
  • Party 1 Broadway Partners
  • Party 1 Brokerage RKF
  • Party 1 Broker John Harding
  • Party 2 Tour De France Group
  • Party 2 Brokerage KGW Associates
  • Party 2 Broker Fred Klein
notes
Restaurateur Simon Oren signed a long-term lease to open a multilevel restaurant and bar at the base of the office building. The reported asking rent was $50 per square foot.
  • Event Office Leasing
  • Address 340 Madison Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 11,113
notes
The financial services firm signed a lease.
  • Event Office Leasing
  • Address 340 Madison Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 99,504
  • Price per foot $ 80.00
notes
The U.S. federal agency renewed its existing lease and took additional space.
  • Event Office Leasing
  • Address 340 Madison Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 13,328
notes
The Portuguese bank signed a lease.
  • Event Office Leasing
  • Address 340 Madison Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 4,115
notes
The investment firm signed a lease.
  • Event Office Leasing
  • Building Name West Building
  • Address 280 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 20,200
notes
The hedge fund inked a 10-year expansion lease for the entire 33rd floor. The company currently occupies a 14,000-square-foot space on the 35th floor.
  • Event Office Leasing
  • Address 340 Madison Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 40,000
notes
The bank inked a lease for the 11th floor. The tenant is consolidating its offices at 450 Park Avenue and 70 East 55th Street.
  • Event Office Leasing
  • Address 340 Madison Avenue
  • Neighborhood Central Park South
  • Borough Manhattan
  • Square feet 120,000
  • Publication Date 03/01/2008
  • Event Date 01/16/2008
  • Party 1 Broadway Partners
  • Party 2 SunGard
  • Party 2 Brokerage GVA Smith Mack, Newmark Knight Frank
  • Party 2 Broker Jeff Mack, Michael Ippolito
notes
The technology company signed an 11-year lease. The reported asking rent at the property is $80 per square foot. The building is now nearly 80 percent occupied.
  • Event Office Leasing
  • Address 340 Madison Avenue
  • Neighborhood Midtown
  • Borough Manhattan
  • Square feet 4,580
notes
The document analysis and risk management services provider to the legal industry signed a seven-year, 10-month lease for the entire second floor of the 22-story Class A building. The reported asking rent was $80 per square foot.
  • Event Sales
  • Address 660 Madison Avenue
  • Neighborhood Lenox Hill
  • Borough Manhattan
  • Square feet 254,474
  • Price $ 375,000,000
  • Price per foot $ 1,473.63
  • Publication Date 11/01/2007
  • Event Date 09/22/2007
  • Party 1 Broadway Partners
  • Party 2 Etoile 660 Madison LLC
notes
The building sold for $375 million, or more than $1,470 per square foot. The seller originally purchased the property, its first Manhattan acquisition, for $216 million in May 2006. Tenants include the Corcoran Group.
  • Event Office Leasing
  • Address 340 Madison Avenue
  • Neighborhood Central Park South
  • Borough Manhattan
  • Square feet 99,485
notes
The national network of financial advisors inked a lease for the entire 19th, 20th and 21st floors. The reported asking rent was $90 per square foot.
  • Event Sales
  • Address 450 West 33rd Street
  • Neighborhood Hudson Yards
  • Borough Manhattan
  • Square feet 1,600,000
  • Price $ 664,000,000
  • Price per foot $ 415.00
notes
The home of the New York Daily News sold for $664 million, or $415 per square foot.
  • Event Sales
  • Address 100 Wall Street
  • Neighborhood Seaport
  • Borough Manhattan
  • Square feet 466,000
  • Price $ 175,000,000
  • Price per foot $ 375.54
notes
Broadway is in contract to purchase the 466,000 sf Class A office tower for $175 million. The seller had acquired the building for $134 million from Reckson Associates Realty Corp. in February 2006.
  • Event Sales
  • Address 237 Park Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 1,160,000
  • Price $ 1,180,000,000
  • Price per foot $ 1,017.24
notes
The building sold for $1.18 billion, or approximately $1,000 per square foot, as part of a national $5 billion, 24-building portfolio buy.
  • Event Sales
  • Address 280 Park Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 1,200,000
  • Price $ 1,200,000,000
  • Price per foot $ 1,000.00
  • Publication Date 05/01/2007
  • Event Date 03/22/2007
  • Party 1 Istithmar
  • Party 2 Broadway Partners
notes
The two connected buildings sold for a little more than $1.2 billion. Istithmar bought the property in June 2006 for $1.2 billion.
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