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Thread: Clean Sweep at 1515 Broadway

  1. #1
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    Default Clean Sweep at 1515 Broadway

    From Crains NY

    Clean sweep of fast-food joints on B'way

    by Louise Kramer

    The owner of 1515 Broadway is making a clean sweep of the building's fast-food restaurants, some of the longest-running spots in Times Square.

    Out will be Dunkin' Donuts, Pizza Hut and Tad's Steaks, all owned by The Riese Organization, the city's largest restaurant company. Their leases expire at the end of this year.

    The building, between West 44th and West 45th streets in the heart of Times Square, is home to MTV Studios and Viacom International Inc. Landlord SL Green Realty Corp. wants to replace the fast-food outlets with a single big-name retailer as part of a mission to upgrade the building, says Jeffrey Roseman, a broker with Newmark New Spectrum Retail, who is marketing the property.

    The asking rent was not disclosed for the approximately 11,000-square-foot space. Mr. Roseman says comparable neighborhood spaces command rents between $450 and $550 per square foot.

    Riese Organization Chairman Dennis Riese says he wanted to stay in the building but was unable to negotiate a deal. He is also closing his other, higher-end eatery in the building, Charley O's, after a run that lasted close to two decades.

    "We are very regretful," says Mr. Riese, whose company has leased space at the building for almost two decades. "I wish I could stay there."
    Copyright 2003, Crain Communications, Inc

  2. #2

    Default Clean Sweep at 1515 Broadway

    Good riddance. *I'd like to see Riese out of Manhattan. *He runs some of the dirtiest, most poorly managed franchises you'll ever see.

  3. #3
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    Default Clean Sweep at 1515 Broadway

    I know they said Charley O's is gonna go upscale (like Noche and Blue Fin, I guess), but I wonder what's gonna go here? *A store, bar, restaurant, club? *Hmmm... I really hope it's not some lame-ass chain store. *I can't stand all these chains.

  4. #4

    Default Clean Sweep at 1515 Broadway

    I dont know if I read it here, but isnt the hojo's also going?

  5. #5
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    Default Clean Sweep at 1515 Broadway

    HOJO's demise has been trumpeted for about 3 years now - and yet.....

  6. #6

    Default Clean Sweep at 1515 Broadway

    Does this mean we'll be seeing yet ANOTHER H&M?

  7. #7
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    Default Clean Sweep at 1515 Broadway

    I hope it's a Gap - I really love having 185 of them in midtown. *Yeah Gap!

  8. #8

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    according to the yearly conf call of SL GREEN, they have retained the architect firm of KPS and are planning a major renovation-redevelopment something like 1095 at Bryant Park, its pending on weather Viacom will vacat the building.

  9. #9
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    I hope it will only be touch-ups they're thinking about doing and not a complete makeover job like that of 1095 Sixth.

    One Astor Plaza may not be loved by many people, but I think it's got very unique look and I like it very much, especially the crown at the top.

  10. #10

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    Ditto. I’m nostalgic for some of these late modernist buildings, not because they are great works of architecture but because they defined an era in New York City. When ever I see the Viacom Building I am reminded of how Times Square was still the Wild West, not even a decade ago, it provided a strong image then and it provides a strong image now, I think of the city then and myself respectively. I am already greatly saddened by the loss of 2 Columbus Circle and the Verizon Building because they were quintessential pre-1980, whitewashed New York, and instead of replacing them with some dramatic statement, which I would be alright with, they replace them with something faceless, which is appropriately disturbing. At least the Met Life Building is still beautifully brutalist, I swear if they ever propose refacing it with reflective glass, I’ll be out there picketing.

  11. #11
    Disgruntled Optimist lofter1's Avatar
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    TIMES SQUARE GETS A FACELIFT

    GREEN TO ADD 'DRAMA' TO MTV HQ


    FRESH LOOK
    Rendering of 1515 B'way.

    NY POST
    Steve Cuozzo
    September 2, 2008

    SL Green doesn't know yet whether media giant Viacom will stay at 1515 Broadway - but the publicly traded commercial real estate giant isn't waiting until then to put a gleaming new face on its imposing but little-adored Times Square tower.

    Green, which bought the 2 million square-foot, 54-story building in 2002 for $480 million, has launched a $160 million capital-improvement program.
    On the inside, it will include a new lobby, upgrades to the HVAC system and elevators, and environmental enhancements the owners hope will earn the building a silver LEED rating for energy efficiency.

    But what Times Square's zillions of visitors will notice will be on the outside.

    One striking change, shown for the first time in a rendering on this page, will be a 42-foot tall vertical extension to the protruding glass curtain wall on the lower floors that house the MTV studio and the Minskoff Theater's mezzanine lobby.

    The facelift by architects Kohn Pedersen Fox will also overlay limestone portions of the façade and sharp-edged "crown" with brushed aluminum panels.

    A few sheets have already been installed near the Minskoff entrance on West 45th Street, giving a hint how the finished job will look.

    "In essence, we're re-massing the building," said Steve Durels, SL Green executive vice president and leasing chief. "Our goal is to give it more street presence and more drama, especially as you look at it the lower part."

    Although he didn't mention it, the aluminum finish will also set 1515 Broadway off from the Marriott Marquis on the next block.

    Right now, the stone portions of the two buildings tend to run together at first glance.

    While tourists gape at the bright lights, commercial brokers know 1515 Broadway as a pioneer of Times Square's transformation into a front-office district now home to Condé Nast, Thomson Reuters, Morgan Stanley, Lehman Brothers and Skadden Arps.

    At 1515 Broadway, Viacom occupies 1.5 million square feet - or 95 percent of the tower's office space - under several different leases with different expiration dates.

    The largest lease, for 1 million feet, is up in 2010.

    Durels said, "They have a renewal option we hope they'll exercise, but what's driving our renovation is not to rely upon fact that they'll renew."

    Viacom has a total 2.5 million square feet in Manhattan. Last year, it moved its Comedy Central unit from 1775 Broadway to 345 Hudson St., fueling buzz that it might also partly or completely pull out of 1515 Broadway for cheaper rents downtown.

    Durels said the average asking rent at 1515 is $90 a square foot. (All but 135,000 feet in the tower has been rented.)
    Viacom's existing lease is in the $50 a foot range, close to the "ask" at 345 Hudson.

    Viacom is repped by CB Richard Ellis' Michael Laginestra and Scott Gottlieb, who could not be reached.

    Built from 1968-1970, 1515 Broadway was once reviled for replacing the beloved old Astor Hotel between West 44 and 45th streets.

    The AIA Guide ridiculed its triangular "finial fins" at the top as resembling "the tail of an impaled spaceship."

    But SL Green has replaced schlocky retail and fast-food tenants with the likes of Billabong, the MTV store and a Bank of America branch.
    The building owner dumped the old movie theaters for the live-music-oriented Nokia Theater.

    "We spent $25 million to build the city's state-of-the-art concert venue," Durels said.

    Enlarging the glass façade overlooking the "Crossroads of the World" promises to be the most noticeable change yet.

    Durels said, "It's not adding floor space, but is purely decorative. It will kind of square off the space and bring more logic to bottom of the tower, which now is slightly under whelming."

    Copyright 2008 NYP Holdings, Inc.

  12. #12
    Disgruntled Optimist lofter1's Avatar
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    1515 Broadway (aka 1 Astor Plaza) previously:

    The Loews Astor Plaza





    PHOTO > http://www.pbase.com/nyguy/image/80884674/large.jpg

  13. #13

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    I've always hated that glass wall on the lower floors.

  14. #14
    Disgruntled Optimist lofter1's Avatar
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    It worked much better before the 40+ story wall of the Marriott Marquis rose to the north and boxed it in.

  15. #15
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    I'm just happy that they've left the crown top alone and are only enhancing it. That part of the building is iconic and no one should ever mess (meaning not getting rid of it) with it.

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