CBS Stays Put in 48K SF at 1700 Broadway
By Rebecca Baird-Remba May 3, 2017 1:30 pm
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CBS has renewed a lease for its office space at 1700 Broadway between West 53rd and West 54th Streets in the heart of Midtown.
The network struck a “long-term deal” for 48,000 square feet at Ruben Companies’ 42-story office tower, The Real Deal reported yesterday. CBS currently occupies the 10th and 11th floors, but TRD said it plans to “reshuffle some space” in the building. The length of the lease wasn’t immediately available.
Ruben developed the 600,000-square-foot building in 1968 on land leased for 99 years from the The Shubert Foundation. Then early last year, Ruben purchased the 30,150-square-foot property for $280 million in an off-market sale, Commercial Observer reported at the time.
CBS rents office space in several Midtown commercial towers, including 1633 Broadway, 555 West 57th Street and 1 Worldwide Plaza. The century-old TV and radio conglomerate also owns its headquarters, a 38-story, Eero Saarinen-designed building at 51 West 52nd Street built in 1964.
CBRE’s Michael Laginestra, Andrew Sussman and Rocco Laginestra represented CBS in the transaction. David Falk, Peter Shimkin and Daniel Levine of Newmark Grubb Knight Frank are in charge of leasing for the block-long office tower. Spokespeople for both brokerages didn’t immediately respond to requests for comment. Ruben Companies declined to comment.
