Property companies 60 Guilders and Sentry Realty have acquired the office building at 1441 Broadway in Midtown Manhattan for around $240 million. The transaction, involving a 550,000 square foot office high-rise, was divested by the estate of LH Charney. This purchase marks the continuation of a series of investments by the partnership in the immediate vicinity, underscoring their strategic commitment to this dynamic district.
Adam Spies and Adam Doneger of Newmark were responsible for handling the sale. The internal management of the deal at 60 Guilders was overseen by CEO Kevin Chisholm and Jordana Rosenzweig, Vice President of Acquisitions. On behalf of Sentry Realty, Alen Mamrout and Joe Mamrout led the deal, supported by Yossi Althkefati.
This acquisition is the third by the buying group in this region. Previously, in December 2024, they acquired the property at 1375 Broadway from Savanna, which was refinanced with a $213 million loan earlier this year. In January 2025, the purchase of the 250,000 square foot building at 1370 Broadway followed for $76 million. Financing for the 1441 Broadway acquisition included an acquisition-related variable-rate loan covering approximately 70 per cent of the total costs, provided by Fortress. This loan was arranged by Jordan Roeschlaub, Nick Scribani, and Ricky Braha of Newmark.
Built in 1930, the 33-storey Art Deco building, also known as 10 Times Square, is located between West 40th and West 41st Street, in close proximity to Bryant Park and Times Square. Although the building has an occupancy rate of approximately 90 per cent, current rents are below market level. The new owners therefore plan to successively optimise the building, its tenant structure and its cash flow. Despite this initial situation, 1441 Broadway has recently seen significant leasing momentum.
- —In March, NYC Alliance, the distribution company for Juicy Couture, signed an eleven-year lease for 50,000 square feet and relocated its headquarters here from 1411 Broadway.
- —In April of the previous year, four other tenants took up space in the building: Style Theory with 14,634 square feet, The Pekoe Group with the entire 25th floor (12,982 square feet), Mint Medical with 3,736 square feet on the 24th floor, and KDI with 2,752 square feet on the 23rd floor.
Requests to 60 Guilders and Sentry Realty remained unanswered for now. Newmark declined to comment.
