Pandora Jewelry, Woori Bank Ink Deals at 1540 Broadway

GFP Real Estate has signed two office deals spanning more than 74,000 square feet at one of its office buildings in Midtown.

In the largest deal, Pandora Jewelry signed a long-term lease for 27,936 square feet on the entire 34th floor of 1540 Broadway, according to the landlord. At the same time, Pandora renewed its existing 27,936 square feet at the building, bringing its total footprint to 55,872 square feet, according to GFP, which owns the 44-story property in a partnership with BDT & MSD Partners.

GFP Real Estate did not disclose the asking rent or the length of the new lease, but the average asking rent for Manhattan office space in the fourth quarter of 2025 was $84.24 per square foot, according to a report from CBRE.

Meanwhile, South Korean financial institution Woori Bank New York Agency signed a 20-year lease for 18,553 square feet. Together, the two deals total 74,425 square feet.

“These long-term commitments from a leading global consumer brand and an international financial institution validate the market’s confidence in ownership’s strategic repositioning of the building,” Brian Steinwurtzel, co-CEO of GFP, said in a statement. 

Allen Gurevich of GFP represented the landlord in-house in the Pandora deal alongside JLL’s Clark Finney, Frank Doyle, Carlee Palmer and Michael Pallas. Dan Posy of JLL handled negotiations for Pandora.

“Today’s tenants are making long-term decisions based on quality, performance and the overall workplace experience,” Finney said in a statement. “1540 Broadway checks each of those boxes and stands out in a competitive Midtown landscape.

Woori Bank’s 18,553-square-foot office will span the entire 38th floor of the 907,000-square-foot office tower, according to GFP. The bank will relocate from 245 Park Avenue in May.

Charles Han and Douglas Levine of Newmark negotiated on behalf of Woori Bank, but declined to comment. Gurevich and the JLL team represented the landlord in the bank’s deal.

1540 Broadway faces Times Square, spanning the length of Broadway between West 45th and West 46th streets. GFP launched a $150 million repositioning of the building through two floors of tenant amenities in January, with financing for the project provided by affiliates of Apollo Global Management and interior design by Fogarty Finger.

“With construction of the amenity program underway, we’re excited for the brokerage community and prospective tenants to preview the new spaces through the building’s website,” Steinwurtzel said. “Once complete, 1540 Broadway will deliver the quality, flexibility and elevated workplace experience today’s premier Midtown tenants expect.”

Mark Hallum can be reached at mhallum@commercialobserver.com.