“From the outset our partnership has shared a strategic vision for how to reposition this building, taking advantage of imminent large block vacancy and creating a new and exciting look and feel for 8 Times Square,” says Stephen Meringoff, co-managing partner, Himmel + Meringoff.

“Today, as home to one of WeWork's largest locations in New York City—and the site of Foot Locker's upcoming Midtown mega-center too—8 Times Square is the fresh new face on Broadway,” he continues, “reborn as the physical confluence of Herald Square and Times Square whose borders we have effectively redrawn with our artful renovations, rebranding and re-tenanting strategy.”

The transformation of the 215,000 square foot building was made possible when Skadden Arps, the tenant who previously occupied 100% of the building's office space, vacated the premises on March 31st of last year.

On that same day, WeWork signed a 19-year lease for all but the second and third floors of the property. The final touches of the expansive renovation will be completed in December 2016.

“We are very pleased with the advantageous refinancing for 8 Times Square which provides us with financial flexibility at very attractive terms,” comments Leslie Wohlman Himmel, co-managing partner, Himmel + Meringoff. “Along with the property's new, heightened allure for business and retail tenants, the strength of response we've received from the lending community is welcome acknowledgement of the success of our partnership's strategy.”

The Swig Company was one of the original developers of 1460 Broadway when the property was built in 1951 and has maintained a majority ownership position ever since. The company formed a partnership with Himmel + Meringoff in August 2014 to acquire the interest of Swig Co.'s prior partner. Himmel + Meringoff became operating partner and oversaw the renovation and leasing campaign. As part of that campaign, the building was officially rebranded as '8 Times Square.'