1500 Broadway, a 500,000-square-foot, Class A office tower, was built in 1972 and occupies the entire eastern front of Broadway between 43rd and 44th Streets in the heart of Times Square. We acquired the property in September 1995 and began the redevelopment process to restore the building to a Class A status. A capital improvement program replaced all major mechanical systems, upgraded common areas, and reinstituted a higher level of service and appearance. In addition to upgrading the office space, we created additional revenue by developing the building’s signage display areas and re-envisioning the building’s retail space. All of the retail leases were bought out and an office tenant was relocated to create a single large retail box of 75,000 square feet of contiguous space.