Sell for More News is a weekly blog series with interesting information from the world of commercial real estate.
TSX Broadway is a $2.5B project that, among other things, will act as a 46 story electronic billboard overlooking Times Square.
The site is currently home to a DoubleTree Hilton hotel and the landmark Palace Theatre. The DoubleTree is being demolished but the Palace Theatre will be restored and lifted 30 feet to accommodate an experiential retail outlet.
Upper floors will include a performance stage overlooking Times Square, a restaurant with large terrace and a hotel with more than 600 rooms.
It’s estimated that 380,000 pedestrians walk through Times Square each day.
The 46 story LED billboard will be essential to recouping some of the $2.5 billion that’s been raised to develop the new building, set to open in 2022. The primary advertiser may also get naming rights to the building.
This project is the definition of ambitious. It will be interesting to see if the numbers work when all is said and done.
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About Beau Beach, CCIM
Beau is a tenacious Commercial Real Estate Broker, author and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.
Beau leads Beachwood which is a commercial real estate broker for sellers in the Nashville, Milwaukee, South Florida and Chicago markets.
He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.
Beau can be reached at 414.324.4938, 615.603.9770, click to schedule a call or Beau@ProwessIRES.com