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Time Warner hired the brokerage firm Studley to look for a new home, touching off a frenzy among the city’s top developers, including Boston Properties, Extell Development and Brookfield Properties. Bewkes, Time Warner’s chairman and chief executive, first signaled his plans in 2011 to consolidate the company’s operations in a modern, highly efficient, albeit less luxurious, tower by 2017, when many of the company’s leases expire. It also has the rights to build over the adjacent railyard between 11th and 12th Avenues.Īt the same time, Related expects that companies will leap at the chance to pay a premium for the old Time Warner office space at Columbus Circle, and presumably, the opportunity to put its own name on the high-profile complex.īut large companies have moved cautiously in the current market, making many developers squirm. Related is currently building a residential building nearby and closing on a separate parcel at 33rd Street and 11th Avenue. Related and its partner, Oxford Property Group, are now betting that Time Warner’s move to Hudson Yards will establish the area as a new commercial district, much the way the company transformed Columbus Circle when it moved there a decade ago. The developer expects to make money on the retail and residential portions of the project. The building’s top-notch Times Square location, coupled with its renovated, state-of-the-art amenities and prestigious tenant roster, make it highly appealing to office tenants.Related has been willing to sell its office space at cost to lure Time Warner, one of the few corporations in the market for new space, and get the rest of the complex under way. Office asking rents at Paramount Plaza tend to be roughly on a par with the average commanded in Midtown Manhattan, an average that is close to $90 per square foot. How much is the rent price for office space at 1633 Broadway? It consists of three major divisions: Home Box. in 1990, and after becoming a subsidiary of AT&T in 2018, it was renamed WarnerMedia. It was founded as Time Warner following the merger of Warner Communications and Time Inc.

Notable tenants calling 1633 Broadway home include Time Warner Cable, Paramount Group, Warner Music Group, Allianz, Morgan Stanley, JC Elite Construction, and The Clinton Foundation. (19902001 200918) and AOL Time Warner (200109), one of the largest media and entertainment conglomerates in the world. Who is renting office space at 1633 Broadway?īesides being home to two popular Broadway theatres, Paramount Plaza is also home to various big-ticket office tenants, operating in industries like financial services, real estate development and media.

The building also houses the 1,940-seat Gershwin Theater and the Circle theater. Paramount Plaza benefits from an excellent location near the bustling Times Square, and those working in the building have access to plenty of nearby transportation options, including the 1, 2, A, C and E subway lines. The office building at 1633 Broadway offers tenants easy access to all the shopping, dining and leisure destinations in Midtown Manhattan. The building is serviced by 38 state-of-the-art passenger elevators and 2 freight elevators, while floor plates range in size from 36,000 to 54,000 square feet of office space. Amenities at 1633 Broadway include 24-hour concierge service and security, on-site management provided by Paramount, a 250-space parking garage, a newly renovated lobby and outdoor plaza, and exquisite views of Midtown Manhattan. The LEED Gold-certified building is owned by Paramount Group and was renovated in 2012. Paramount Plaza offers tenants 2.6 million square feet of Class A Times Square office space across 48 floors. 2.6 MSF of Class A Times Square Office Space Nowadays, the building is known as Paramount Plaza, and it’s best known for housing two major Broadway theaters, as well as various high-profile office and retail tenants. It was developed by the Uris brothers, prominent private real estate developers at the time, and dubbed the Uris Building. The office building rising at 1633 Broadway in Midtown Manhattan was built in 1972, on the former site of the Capitol Theatre near Times Square, boasting a design by Emery Roth & Sons.