The busy summer for Manhattan office market isn't letting up. Telecommunications giant Comcast inked a major relocation to consolidate one of its departments in a Times Square skyscraper.
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Comcast plans to move the division from two other buildings, Shorenstein Properties’ 1407 Broadway and BGRE’s 55 W. 46th St., The Real Deal reported. Asking rents for 1540 Broadway were in the low $90s per SF.
Savills’ Gabe Marans, Jay Joyce and Greg Bante represented the tenant, which will occupy floors 27 through 31 in the skyscraper.
GFP’s Allen Gurevich represented building ownership in-house alongside JLL’s Clark Finney, Frank Doyle, Mike Pallas and Carlee Palmer.
Building ownership and the brokers on both sides of the deal did not immediately respond to requests for comment.
Comcast took 45K SF at the 55 W. 46th St. skyscraper in 2016 when it was jointly owned by SL Green and Prudential Real Estate Investors. SL Green sold its 25% stake to Brookfield in 2021.
The cable giant leased 100K SF at Shorenstein’s 42-story Garment District building in 2017, The Real Deal previously reported.
It’s unclear whether Comcast’s space inside either building has shrunk or grown since it first signed those leases. Comcast didn't immediately respond to a request for comment.
BDT & MSD and GFP recently poured $150M into ongoing renovations of 1540 Broadway's lobby, elevators and amenities.
Woori Bank New York Agency and Pandora both inked deals for space in the building this year, Commercial Observer previously reported.
The South Korean bank took 19K SF, while Pandora Jewelry renewed and expanded its office space to a total 56K SF in the tower.
Other tenants include pharmaceutical company Schrodinger and tech firm Adobe, according to TRD.
