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1657 Broadway - Leasehold Opportunity 101,945 SF Retail Condo Unit in New York, NY 10019
Investment Highlights
- 100% Occupied Leasehold Position
- Supported by a stable roster of national tenants generating consistent long-term income secured by lengthy lease commitments.
- Connected to one of the city’s strongest transportation networks with immediate access to multiple subway lines.
- Situated along a globally recognized retail avenue offering nonstop foot traffic and unmatched brand exposure.
- Surrounded by premier hotels, entertainment venues, and cultural anchors that sustain high visitation throughout the year.
- Enhanced by exceptional frontage along three major corridors that create unparalleled street-level visibility.
Executive Summary
1657 Broadway presents a rare opportunity to acquire a premier, fully occupied retail and office asset positioned at one of Manhattan’s most iconic intersections. Located between West 51st and West 52nd Streets, the property occupies a commanding presence along Broadway, surrounded by the energy, tourism, and commercial density that define the Times Square district. This corridor remains one of the most trafficked pedestrian environments in the country, attracting millions of visitors each year and offering exceptional visibility for national brands.
Property Facts
| Total Building Size | 195,000 SF | Floors | 30 |
| Property Type | Hospitality (Condo) | Typical Floor Size | 21,776 SF |
| Property Subtype | Hotel | Year Built | 1984 |
| Building Class | B | Lot Size | 0.50 AC |
| Zoning | C6-7.5 - C6 districts permit a wide range of high-bulk commercial uses requiring a central location | ||
| Total Building Size | 195,000 SF |
| Property Type | Hospitality (Condo) |
| Property Subtype | Hotel |
| Building Class | B |
| Floors | 30 |
| Typical Floor Size | 21,776 SF |
| Year Built | 1984 |
| Lot Size | 0.50 AC |
| Zoning | C6-7.5 - C6 districts permit a wide range of high-bulk commercial uses requiring a central location |
Amenities
- Business Center
- Fitness Center
- Restaurant
- High Speed Internet Access
- Patio
- On-Site Bar
- Meeting Event Space
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 480 | $386.00 | - |
1 Unit Available
Unit 1657 Full 1st Floor
| Unit Size | 101,945 SF | NOI | $388,000 |
| Condo Use | Retail | Sale Conditions | Ground Lease (Leasehold) |
| Sale Type | Investment |
| Unit Size | 101,945 SF |
| Condo Use | Retail |
| Sale Type | Investment |
| NOI | $388,000 |
| Sale Conditions | Ground Lease (Leasehold) |
Description
The property is anchored by long-standing, investment-grade tenancy, including Duane Reade and McDonald’s, both of which generate strong in-place rents and contribute to a weighted average lease term of 39.4 years. Times Square Church occupies a significant portion of the upper-level office space, providing further income stability through its long operational history at the location. Additional tenancy from the M Social Hotel’s lobby space underscores the asset’s durable and diversified rent roll.
Sale Notes
Katz & Associates, as exclusive advisor to Ownership, is pleased to present the opportunity to acquire a partial interest in the leasehold position in the retail
property located at 1657 Broadway (the “Property” or the “Offering”), a premier retail asset situated in the heart of Midtown Manhattan.
The asset is comprised of nearly 102,000 Net Rentable SF of prime retail space and is 100% leased to multiple long-standing national tenants. With an incredible weighted average lease term (WALT) of 39.4 years, the Property provides a stable and diversified income stream, reinforced by the high-credit quality of major tenants including Duane Reade and McDonald’s. Additionally,
the space boasts over 300’ of premium ground and second floor wraparound frontage along Broadway, one of the city’s most trafficked commercial avenues.
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1657 Broadway - Leasehold Opportunity
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