With rents on a high and vacancy rates inching upward, the Midtown South commercial market may have reached its healthiest point.
Both Midtown and Midtown South – perhaps the tightest market in the country –experienced an increase in vacancy rates this past year, according to numbers released Monday by Cushman and Wakefield, rising to 10.3 Read More
Cushman & Wakefield has been retained to exclusively market 1710 Broadway, a six-floor office building on the northeast corner of 54th Street that’s in the midst of a major renovation.
The effort comes as the lease of the current major tenant, Bad Boy Entertainment, a record label founded in 1993 by entrepreneur Sean “Diddy” Combs, winds down, sources said.
The 60,000-square-foot space is being marketed mainly to creative firms looking to establish an identity in “one of most active and desirable locations” in Midtown, with Columbus Circle to the north and Times Square to the south, and as a potential alternative to Midtown South, said Cushman & Wakefield Vice Chairman Stuart Romanoff.