New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

New York & Tri-State  + Finance  | 
Newmark has arranged a $590-million financing on 1540 Broadway in Times Square

Newmark Duo Arranges $590M Financing on 1540 Broadway 

Newmark has arranged the $590-million financing of 1540 Broadway, a Class-A landmark, trophy-office building located in Times Square, on behalf of Edge Fund Advisors and HSBC. The Newmark team was led by Jordan Roeschlaub and Dustin Stolly, co-heads of capital markets debt & structured finance. Apollo, MSD and Monarch provided the loan. 

Formerly known as the Bertelsmann Building, 1540 Broadway is among a limited set of towers comprising Class-A office space in Times Square. The property underwent a comprehensive, $40-million capital improvement program over the past three years, including a new 27,000-square-foot amenity floor designed by Gensler.  

Other upgrades include a new contemporary entrance and lobby, destination dispatch elevators, Smart Technology throughout the building and a new co-generation plant, which is expected to generate 70% of the property’s base building energy on-site. The property is within walking distance of Midtown Manhattan’s major transportation hubs. 

Connect

Inside The Story

Newmark's StollyNewmark's Roeschlaub

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
AvatarFinancialGroup-04-cube
New call-to-action
New call-to-action