Key Takeaways
- • 1411 Broadway has secured 566,000+ square feet of leasing activity over 18 months following a $100 million modernization program, positioning the 1.2-million-square-foot Midtown Manhattan tower for 90% projected year-end occupancy.
- • Three major tenants—Zeta Global, Republic Clothing Corporation, and Amorepacific—committed to 182,000 square feet combined in recent leases, including Zeta Global's 50,522-square-foot expansion (doubling its NYC footprint) and Republic Clothing's 81,000-square-foot 15-year direct lease.
- • Capital improvements totaling $100 million transformed the property's appeal, including a renovated Broadway plaza, redesigned double-height lobby with hospitality-inspired design, new facade and entrance, upgraded elevators, modernized building infrastructure, and new windows throughout.
- • Ivanhoé Cambridge and The Swig Company own the asset, with Hines serving as the property, asset, and experience manager driving leasing execution and tenant relations.
- • The repositioning strategy demonstrates strong demand for modernized Class A office space in Midtown Manhattan, with completed renovations directly supporting accelerated leasing velocity and tenant expansion decisions.
Summary
Hines announced that 1411 Broadway, a 40-story Class A office tower located between 39th and 40th Streets in Midtown Manhattan, has built substantial leasing momentum following a comprehensive $100 million modernization program. The 1.2-million-square-foot property, owned by Ivanhoé Cambridge and The Swig Company and managed by Hines, has secured more than 566,000 square feet of leasing activity over the preceding 18 months, with the building tracking toward 90% projected occupancy by year-end 2026.
Three major lease transactions—signed within the past two months and collectively representing 182,000 square feet—have anchored recent momentum. Zeta Global committed to a new 10-year lease for 50,522 square feet across the 38th and 39th floors, effectively doubling its existing footprint and relocating its New York City headquarters to the building. Republic Clothing Corporation executed a 15-year direct lease for 81,000 square feet, while Amorepacific agreed to relocate its headquarters into 50,522 square feet at the tower. These transactions underscore both expansion and headquarters consolidation trends among mid-market and multinational corporate tenants.
The leasing success directly correlates with the building's repositioning strategy, which prioritized tenant experience and modernized workplace amenities. Completed capital improvements include a renovated Broadway plaza, redesigned entrance and facade, upgraded elevator systems and core building infrastructure, new fenestration throughout, and a double-height lobby reimagined with a hospitality-inspired arrival experience. These improvements transformed the property's competitive positioning in the Midtown market and supported Hines' leasing teams in negotiating expansions and new tenant commitments.
Hines' asset management and leasing functions worked collaboratively with ownership and brokerage partners to execute the series of renewals and expansions that comprise the 566,000-square-foot leasing total. The results validate the capital allocation strategy and demonstrate that modernization investments can drive meaningful occupancy gains and tenant diversification in Manhattan's competitive office market, particularly as corporate tenants evaluate quality, infrastructure, and workplace experience alongside location fundamentals.
Three major lease transactions—signed within the past two months and collectively representing 182,000 square feet—have anchored recent momentum. Zeta Global committed to a new 10-year lease for 50,522 square feet across the 38th and 39th floors, effectively doubling its existing footprint and relocating its New York City headquarters to the building. Republic Clothing Corporation executed a 15-year direct lease for 81,000 square feet, while Amorepacific agreed to relocate its headquarters into 50,522 square feet at the tower. These transactions underscore both expansion and headquarters consolidation trends among mid-market and multinational corporate tenants.
The leasing success directly correlates with the building's repositioning strategy, which prioritized tenant experience and modernized workplace amenities. Completed capital improvements include a renovated Broadway plaza, redesigned entrance and facade, upgraded elevator systems and core building infrastructure, new fenestration throughout, and a double-height lobby reimagined with a hospitality-inspired arrival experience. These improvements transformed the property's competitive positioning in the Midtown market and supported Hines' leasing teams in negotiating expansions and new tenant commitments.
Hines' asset management and leasing functions worked collaboratively with ownership and brokerage partners to execute the series of renewals and expansions that comprise the 566,000-square-foot leasing total. The results validate the capital allocation strategy and demonstrate that modernization investments can drive meaningful occupancy gains and tenant diversification in Manhattan's competitive office market, particularly as corporate tenants evaluate quality, infrastructure, and workplace experience alongside location fundamentals.
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