Property Overview 1500 Broadway is a class A office tower located in the heart of Times Square, occupying the entire eastern block front of Broadway between 43rd and 44th Street. The building was built in 1972 and contains approximately 500,000 square feet.

Investment Strategy Taconic acquired the property in September of 1995. A capital improvement program was implemented to replace all major mechanical systems, upgrade common areas, and convert the building, which at the time had become a "B" building in terms of service and appearance, into a class A building. In addition to upgrading the office space, Taconic created additional revenue by developing the building's signage display areas and redeveloping the building's retail space. All of the retail leases were bought out and one of the office tenants was relocated to offer a single large box of 75,000 square feet of contiguous space. A lease with the Disney Corporation was executed in November of 1997, and the space now serves as the studio for such ABC programs as "Good Morning America" and "20/20."

Taconic sold 1500 Broadway in September 1999.

Back to Investment Portfolio