Comcast Advertising, Comcast's division specialising in advertising sales and technology, has signed a lease for 140,000 square feet at 1540 Broadway. The building, owned by GFP Real Estate and BDT & MSD Partners, will serve as the new headquarters for the advertising division. For Comcast, this means a relocation from its previous address at 55 West 46th Street.
The exact terms of the lease agreement, such as rent and duration, were not disclosed. However, the average asking rent for office space in Midtown at the end of the second quarter of 2026 was $86.18 per square foot, according to a report by CBRE.
Attractiveness of high-quality office space
Brian Steinwurtzel, CEO of GFP Development, commented on the decision by Comcast and other tenants. He stated that companies continue to prioritise high-quality office environments that support talent attraction, foster collaboration, and promote long-term growth. Steinwurtzel oversaw a $150 million repositioning of the property and expects the remaining space to be largely leased by the end of the year, as additional transactions are in advanced negotiations.
The landlord was represented by Allen Gurevich of GFP internally, as well as by Clark Finney, Frank Doyle, Mike Pallas, and Carlee Palmer of JLL. Gabe Marans, Jay Joyce, and Greg Bante of Savills acted on behalf of Comcast. A statement from Savills was not immediately available.
Clark Finney emphasised that tenants continue to prefer buildings offering a combination of an excellent landlord, modern amenities, efficient floor plans, and first-class accessibility. 1540 Broadway has proven to be an exemplary property for this trend.
Other prominent tenants in the building
The lease agreement with Comcast was first mentioned in a CBRE office report for July, though detailed information was still pending. In addition to Comcast, other notable companies have already established themselves in the building on West 45th Street, between the Avenue of the Americas and Broadway.
- —Metalmark Capital: The equity investment firm leased 9,314 square feet and relocated from 1177 Avenue of the Americas.
- —Alight: The provider of human resources services occupied 3,123 square feet and relocated from 142 West 57th Street.
