Christine Valmy Comes to Paramount Building

A $50-million renovation is already paying off at 1501 Broadway, also known as the Paramount Building. Christine Valmy International School for Esthetics has signed a new long-term, 24,000-square-foot lease at the landmark 33-story in Times Square, Midtown Manhattan.

“The Paramount Building has modernized into a destination property, with both history and an unbeatable location in the heart of New York City,” said Jordan Mandel with Vanguard Global Realty, who represented the school in the transaction. Avison Young’s Arthur J. Mirante, Michael Gottlieb, Anthony LoPresti and Joseph Gervino advised the building’s owners.

A recent renovation at the tower replaced all of the windows and elevators, and upgraded common corridors and bathrooms. Workers are now finishing a new multi-story Art Deco building lobby.

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