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Lightstone Sells 1407 Broadway

NEW YORK CITY—The trade makes clear the emerging strength of the Times Square section of Midtown, HFF senior managing director—who represented the buyer—tells GlobeSt.com.

By Rayna Katz | Updated on April 30, 2015

NEW YORK CITY—Lightstone has closed a deal with Shorenstein to sell 1407 Broadway for just over $330 million, or $303 per square foot.

The 42-story iconic office building spans 1.1 million square feet in the Times Square South area. Lightstone first acquired the property in 2007—in a joint venture with Abraham Kamber & Co.—when chairman and CEO David Lichtenstein recognized its long-term value. The tower occupies a full block and features 33,000 square feet of retail space.

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