By Amanda Schiavo January 7, 2026 1:36 pm

The perks at 1540 Broadway are about to level up.

GFP Real Estate, alongside BDT & MSD Partners, is investing $150 million to reintroduce the 907,000-square-foot Times Square office tower with two floors of revitalized tenant amenities, the property manager told Commercial Observer. Financing for the project is being provided by affiliates of Apollo Global Management.

Architecture and interior design firm Fogarty Finger is leading the effort to revamp the building’s amenities, which will span approximately 45,000 square feet on the eighth and 36th floors of the 44-story building four blocks west of Grand Central Terminal.

“We’re very excited to reintroduce 1540 Broadway,” Brian Steinwurtzel, co-CEO of GFP, told CO. “It is one of the most modern buildings in Midtown, and we are significantly upgrading the asset to have one of the most leading amenity packages of all office buildings in Midtown.”

The eighth floor will span about 27,000 square feet and include employee perks such as a conference center, wellness facilities, fitness spaces and a golf simulator. The 36th floor will include an 18,500-square-foot executive lounge featuring a bar and dining area, as well as a 6,200-square-foot landscaped terrace.

“We recognize that office tenants in New York City are looking for fully modernized buildings,” Steinwurtzel said. “We recognize that they believe their employees are their No. 1 asset, and we want to create a product that caters to their employees, and of course their firm.”

The new amenities are expected to be delivered by the end of this year, and JLL will serve as the building’s exclusive leasing agent, GFP said.

Current tenants at 1540 Broadway, which is approximately 50 percent leased, include the North American headquarters for jewelry company Pandora, scientific simulation software developer Schrodinger, and creative software firm Adobe.

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.