You’ve walked past it. If you’ve spent any time at the northern edge of Times Square, specifically at the corner of 54th Street, you’ve definitely seen 1710 Broadway NY NY. But you probably didn't look at it. For years, it was just that six-story building that looked like it was holding its breath while the rest of Midtown Manhattan screamed for attention.
It’s a strange spot.
Most people think of 1710 Broadway as just another piece of the New York City grid, but for the real estate titans of the city, it’s been a high-stakes poker game that lasted over a decade. We are talking about a site that sits on one of the most valuable corners of real estate in the world. Yet, for years, it remained underutilized. Why? Because New York real estate is never as simple as buying a building and putting up a sign. It’s about air rights, debt cycles, and the brutal reality of interest rates.
The Bones of the Building
Before we get into the drama of the developers, you have to understand what the building actually is—or was. 1710 Broadway NY NY was originally designed as a showroom and office space. It was built in 1918. Back then, this part of Broadway was the "Automobile Row." It wasn't about neon lights and Elmos taking selfies; it was about luxury cars. The building was the headquarters for the Ford Motor Company in the 1920s.
Think about that for a second. Henry Ford’s empire was basically run out of this corner.
The architecture reflected that prestige. It has those classic neo-Classical lines. It’s sturdy. It’s got history. But history doesn't pay the property taxes in 2026. By the time the 21st century rolled around, the building was tired. It was a low-slung relic in a forest of glass towers. It became the Badnet Building, housing various office tenants and retail on the ground floor, but it was always destined for something bigger. Or at least, that was the plan.
The Extell Era and the Billion-Dollar Dream
In 2003, Gary Barnett of Extell Development bought the site. If you know NYC real estate, you know Barnett is the guy behind Billionaires’ Row. He doesn't do "small." He saw 1710 Broadway NY NY not as a six-story office building, but as the footprint for a massive skyscraper.
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Barnett started playing the long game.
He began accumulating air rights from surrounding properties. In Manhattan, you don't just own the ground; you own the "sky" above it. If your neighbor has a short building, you can buy their "unused" vertical space and add it to your own tower. By 2017, Extell had reportedly spent millions just to secure the right to build something massive here. We’re talking about a potential 50-story hotel or residential tower.
But then, the market shifted.
Developing a skyscraper in New York is like trying to land a plane in a hurricane. You have to time the interest rates, the construction costs, and the demand for luxury space perfectly. For 1710 Broadway, the timing was just... off. Extell eventually pivoted. Instead of building the tower themselves, they started looking for a buyer.
Enter RFR and the $200 Million Headache
In 2018, Aby Rosen’s RFR Realty stepped up. They bought 1710 Broadway NY NY for roughly $268 million.
It was a bold move. Rosen is known for having a "cool" factor—he owns the Seagram Building and the Chrysler Building. He wanted to turn 1710 Broadway into a boutique hotel or a high-end residential project. He even secured a $180 million loan from Apollo Commercial Real Estate Finance to make it happen.
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Then 2020 happened.
The pandemic didn't just hurt retail; it paralyzed the hospitality industry. 1710 Broadway became a symbol of the "stuck" project. The debt was maturing. The interest was piling up. By 2023 and 2024, the building was at the center of a foreclosure battle. This is the part of NYC real estate people don't see on HGTV. It’s messy. It’s lawyers filing motions at 4:55 PM on a Friday. It’s lenders like Apollo realizing that the "collateral" (the building) might not be worth the loan anymore.
In early 2025, the news broke that the site was facing a UCC foreclosure sale. For those who aren't law nerds, a UCC sale basically means the lender is taking over the "membership interests" in the entity that owns the building. It’s a faster way to seize control than a traditional mortgage foreclosure.
Why This Address Actually Matters to You
You might be thinking, "Who cares about a developer losing money?"
Well, 1710 Broadway NY NY is a bellwether for the entire Midtown North submarket. If a prime corner like 54th and Broadway can’t get a project off the ground, it tells us a lot about the health of the city.
- The Death of Mid-Tier Office Space: Nobody wants a 100-year-old office building unless it's been completely gutted and modernized. 1710 Broadway proved that "potential" isn't enough anymore.
- The Tourism Rebound: The fact that developers are still eyeing this for a hotel shows that Times Square is still the heart of NYC’s economy, even if locals pretend they hate it.
- The Zoning Puzzle: The city has been talking about rezoning parts of Midtown to allow for more residential conversions. 1710 Broadway is a prime candidate for this.
Honestly, the building is kind of a ghost right now. If you walk by today, you’ll see the scaffolding. You’ll see the "Retail Space Available" signs that have been there for what feels like a decade. It’s a placeholder.
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What Most People Get Wrong About the Site
There's a common misconception that 1710 Broadway NY NY is a landmarked building. It isn't. While it has that "old New York" look, it doesn't have the legal protections that prevent it from being torn down. This is exactly why it’s so valuable to developers. You can scrape the lot and start over.
Another mistake? Thinking it’s just one building.
The "site" actually includes the air rights and some of the smaller tax lots around it. When you buy 1710 Broadway, you’re buying a giant 3D puzzle. The complexity of those air rights is what makes the legal battles so intense. If you lose the building, you lose the rights to build high, and that's where the real money is.
The Future: What’s Next for 1710 Broadway?
As we move through 2026, the fate of 1710 Broadway NY NY is finally becoming clear. The foreclosure process has cleared the way for new ownership. Whether it becomes a "Dream Hotel" (as was once rumored) or a high-end luxury rental tower remains to be seen.
What we do know is that the "wait and see" approach is over.
The debt has been washed out, or at least restructured. New capital is coming in. In Manhattan, when one titan falls, another is always waiting with a checkbook. The location is just too good to stay empty. You're minutes from Central Park, steps from the Theatre District, and right on the path of the 7 train and the N/R/W lines.
Actionable Insights for Following the 1710 Broadway Saga
If you’re a real estate enthusiast, a local, or an investor, here is how you should track the progress of this specific site over the next twelve months.
- Monitor the Department of Buildings (DOB) Filings: Look for "New Building" (NB) permits. If you see a permit for a 500-foot tower, you know the financing is finally settled.
- Watch the Retail Ground Floor: The first sign of life at 1710 Broadway won't be a hotel opening; it will be a high-end "pop-up" or a flagship retail tenant taking the corner spot.
- Check the ACRIS Records: The Automated City Register Information System (ACRIS) is where all the deeds and mortgages are recorded. Search for "1710 Broadway" to see who the actual owner is after the foreclosure dust settles.
- Understand the "Neighborhood Effect": Keep an eye on the properties across the street. When one building on a block gets a massive renovation, it usually triggers a domino effect of rising rents and new construction nearby.
1710 Broadway NY NY isn't just a building; it’s a lesson in the volatility of the New York City skyline. It’s a reminder that even the best addresses in the world can't escape the reality of a bad balance sheet. But in this city, nothing stays dead for long. The next time you walk past 54th Street, look up. The scaffolding might finally be coming down, or a crane might be going up. Either way, the story of 1710 Broadway is far from over.