As office occupants continue to focus on flexibility, health, and teamwork, Midtown Manhattan properties are being rethought to meet new standards. In response to these shifts, GFP Real Estate and BDT & MSD Partners have released plans to reposition 1540 Broadway to turn the long-established office tower into a next-generation Class A office building.
GFP Real Estate and BDT & MSD Partners Will Reposition 1540 Broadway
GFP Real Estate and BDT & MSD Partners are investing $150 million to redesign the 907,000-square-foot building in its entirety. 1540 Broadway in Midtown Manhattan will be transformed into a next-generation Class A office building.
While discussing this modern and thoughtfully designed building, Brian Steinwurtzel, co-CEO and Principal of GFP Real Estate, quoted, “This is a full reintroduction of the building. With meaningful capital investment and Fogarty Finger’s design leadership, 1540 Broadway will emerge as one of Midtown’s most distinctive and high-performing office environments.”
Here’s a list of key firms involved in the project:
- Financing: Affiliates of Apollo
- Long-term Capital Planning: BDT & MSD and Apollo
- Operations: GFP Real Estate
- Exclusive Leasing Agent: Jones Lang LaSalle
The original tower was designed by David Childs of Skidmore, Owings & Merrill and completed in 1990. The transformed building is expected to be completed by late 2026. The building is just steps from Grand Central Terminal, Penn Station, and the Port Authority, offering easy transit connections. Employees can easily use transit access with immediate connections to most major subway lines.
With a walking distance from Bryant Park, world-famous restaurants, and major retailers, 1540 Broadway is a corporate hub, housing leading companies like Pandora, Adobe, and Schrödinger.
Architectural Vision by Fogarty Finger
Fogarty Finger, the architecture and interior design firm, is leading the tower’s modernization. The new interiors will feature a contemporary design approach inspired by luxury hospitality and residential environments. Natural materials, stratified finishes, and carefully planned lighting are meant to create a warmer and more welcoming environment.
Office floors will range from 18,000 to 28,000 square feet with floor-to-ceiling windows and 13-foot slab height. The new layouts will offer more flexibility to tenants in space arrangement, with long sightlines and abundant natural light.
Up to 250,000 square feet of contiguous space is ideal for larger tenants, including law firms, life sciences, and tech and finance companies.
Amenities Planned for New Midtown Office
1540 Broadway will feature more than 45,000 square feet of tenant amenities across two floors. On the eighth floor, a 27,000 square-foot amenity center will feature a fitness center, including a new locker room, recovery and movement areas, as well as shared spaces that will be used for social meetings and daily activities.
An executive-level amenity space is planned for the 36th floor, where tenants will have access to an 18,500-square-foot lounge with panoramic city views. This level will also host a bar and dining area, exclusive meeting rooms, and a landscaped outdoor terrace of around 6,200 square feet, intended for gatherings and client-facing events.
“We believe high-quality office assets in strong markets will continue to outperform over time, particularly when backed by experienced ownership and targeted investment,” said Jason Kollander, Partner at BDT & MSD. “This repositioning reflects our long-term commitment to 1540 Broadway, our conviction in New York City, and our excitement around the team’s vision to deliver space that aligns with how companies work today.”
The transformation of 1540 Broadway highlights a larger trend of reinvestment in the Midtown area in well-located office buildings that can meet evolving tenant expectations.
GFP Real Estate is a New York City-based, multi-generational developer, operator, and owner of real estate. The company controls and owns over 70 properties that span over 17.5 million square feet of the city and its nearby areas.
BDT & MSD Partners is a merchant bank specializing in the advice and investing of business owners and long-term investors.
