Browsing: Building Repositioning

It has been a difficult few years for owners of office buildings, especially in cities like New York City. Challenging market conditions during the COVID era, competition from new Class A properties, and changing workplace requirements have all had an adverse impact on commercial real estate.

Buildings are the largest source of greenhouse gas emissions in New York City. To reduce manmade greenhouse gas emissions, NYC City Council has banned the burning of fossil fuels in any new building or any building undergoing a major renovation, starting in 2024.

Located at the busiest corner of the most heavily trafficked public space in the world, the building at 1568 Broadway is currently being transformed into an unprecedented, entertainment-driven project set to reimagine how people engage Times Square. TSX Broadway is the vision of L&L Development Corporation and Maefield Development—who recognized early-on Times Square’s shift toward more experience-based retail, hospitality and entertainment, including show-stopping Broadway productions, that appeal to global visitors. We are heading up the complex team that is partnering with this consortium of clients and stakeholders and leading the robust group of consultants to design a destination that will attract tenants and visitors unlike any ever before.