New York Residence Extends Lease at 1501 Broadway

The Paramount Building at 1501 Broadway.
The Paramount Building at 1501 Broadway.

NEW YORK — Real estate broker New York Residence┬áhas signed a long-term lease extension to occupy several thousand square feet of space at the top floor of 1501 Broadway in Times Square. Financial terms of the lease were not disclosed.

Once home to the iconic Paramount Pictures, 1501 Broadway is located in the heart of Times Square and has been designated a New York City Landmark. Upon its completion in 1927, it was the tallest building in Times Square and known for its large four-faced clock near the top of the pyramidal architectural feature, with the hours indicated by five-pointed stars (forming a circle of stars as seen in the Paramount Pictures logo).

With its growing presence in the international and New York City real estate markets, New York Residence headquarters has been operating at 1501 Broadway for more than 11 years.

“Remaining in the hub of New York City further validates our priority to make New York properties widely accessible to clients around the globe,” said Thomas Guss, President of New York Residence. “Given the historical reemergence of Times Square coupled with the building’s prime location allows us to continue gaining international exposure in this dynamic market.”

New York Residence has been providing residential and commercial real estate services since its establishment in 2005.