Renovated Landmark Gets 26K-SF of New Leases

Social Service Employees Union Local 371 Administrative Fund and Raymond America have both signed new leases for office space at the Paramount Building, the landmark office Art Deco tower at 1501 Broadway in Midtown Manhattan.

“Though the building is known for its extensive theater industry tenant roster, we are also finding there’s strong interest in the property from organizations outside the live entertainment field,” said Arthur J. Mirante, II, president of Avison Young, who with Michael Gottlieb, Anthony LoPresti, Matthew Hoffman and Joseph Gervino represented building management.

Local 371 will occupy 22,063 square feet of space, and was represented by Cushman and Wakefield’s John Fitzsimmons, Jonathan Cerko and Frank Cento. Raymond America will occupy 3,479 square feet, and was represented by Kara Luwisch of Town Commercial.

Work is nearly finished on a $50-million renovation that replaced all windows and elevators, and created a new lobby for the 800,000-square-foot, 33-story tower.

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