Walk down Broadway near 40th Street and you’ll feel it. The chaotic, vibrating energy of the Garment District clashing head-on with the corporate slickness of Times Square. Right there, standing tall like a literal bridge between old-school grit and new-world tech, is 1407 Broadway New York. It isn’t just some glass box. It’s a 1.1 million-square-foot beast that has reinvented itself so many times it’s basically the Madonna of Manhattan real estate.
Honestly, most people just walk past it. They see the retail—the Gregorys Coffee or the Num Pang—and keep moving toward the neon of the 42nd Street subway station. But if you're in the world of New York leasing, you know this address is a heavyweight. It’s got 42 stories of history and some of the most flexible floor plates in the entire city.
The 1407 Broadway New York Identity Crisis (The Good Kind)
For decades, if you worked in 1407 Broadway, you were probably in the "rag trade." This was the epicenter of the fashion world. We're talking showrooms, fabric samples everywhere, and frantic designers trying to beat seasonal deadlines. It was functional. It was loud. It was very, very Midtown.
Things changed.
Shorenstein Properties grabbed the leasehold back in 2015 and poured more than $30 million into a massive renovation. They knew the fashion-only era was cooling off. They needed to pivot. They brought in Fogarty Finger Architecture to gut the lobby and give the whole place a "tech-meets-hospitality" vibe. It worked. Suddenly, it wasn't just a place for dressmakers. It became a hub for companies like Comcast, GoDaddy, and Western Union.
The building basically grew up.
But it didn't lose that accessibility. You see, 1407 Broadway New York occupies a weirdly perfect spot. It’s a full-block frontage between 38th and 39th Streets. In a city where light is a luxury, this building gets it in spades because of its set-backs and the way it looms over the lower-rise neighbors. If you’re a mid-sized company looking for 20,000 square feet without feeling like you’re stuck in a dark closet, this is usually the first place your broker takes you.
Why the Location is Actually a Secret Weapon
People love to hate on Midtown. It's crowded. It’s loud. The tourists are everywhere.
Fair points.
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However, from a purely logistical standpoint, 1407 Broadway New York is arguably one of the most connected buildings on the planet. You are a five-minute walk from Bryant Park, which is basically the best outdoor "office" in the city during the summer. You’re steps from the N, Q, R, W, B, D, F, M, 7, 1, 2, 3, and S trains. It’s absurd. If you have employees coming in from Brooklyn, Queens, and the Jersey suburbs via Port Authority or Penn Station, you literally cannot beat this location. It’s the ultimate commuter compromise.
The Layout Reality
The floor plates here are interesting. They range from massive 43,000-square-foot layouts at the base to more "boutique" 14,000-square-foot spaces at the top. This matters. Why? Because it allows a company to start small and expand vertically without changing their business cards.
Most offices here now feature that "industrial chic" look that refuses to die—exposed ceilings, polished concrete floors, and tons of glass. It’s a far cry from the dropped ceilings and beige cubicles of the 1980s.
The Numbers and the Players
Let's talk about who is actually running the show. Shorenstein is the big name here, and they've been aggressive about keeping the building modern. They recently secured a massive $350 million refinancing package. In the current interest rate environment, that’s a vote of confidence. Lenders don't just hand out that kind of cash to "average" buildings. They do it for assets that stay occupied.
The occupancy rates at 1407 Broadway have stayed remarkably resilient compared to some of the ghost towns on Third Avenue. It’s because they’ve diversified the tenant base. You’ve got:
- Fintech firms that want the proximity to the banks.
- Advertising agencies that need the creative energy of the Garment District.
- Tech giants like GoDaddy that need a New York flagship presence.
- Fashion stalwarts that still value the heritage of the address.
It’s a ecosystem.
What the Modern Tenant Actually Gets
It isn't just about the desk space anymore. That's a relic.
If you're leasing at 1407 Broadway New York today, you’re paying for the "amenity package." The building has a dedicated bike room because, apparently, everyone in 2026 is cycling over the Williamsburg Bridge to get to work. There are showers. There’s a sophisticated security system that doesn't make you feel like you're entering a high-security prison.
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The retail mix is also intentional. You have Luke’s Lobster, Maman, and Num Pang. This isn't just a coincidence. It’s a curated effort to make sure that when employees leave the lobby for lunch, they aren't just eating a soggy $15 salad from a generic deli. It’s about the "tenant experience"—a buzzword, sure, but a necessary one in the era of hybrid work.
The Competition
How does it stack up against 11 Times Square or the New York Times Building?
Honestly, it’s cheaper.
Those shiny new towers command astronomical rents that usually only law firms or hedge funds can stomach. 1407 Broadway New York sits in that "Class A-minus or B-plus plus" sweet spot. You get the Class A experience—renovated lobby, great elevators, high security—but at a price point that doesn't bankrupt a growing series-C startup. It’s the "sensible luxury" of Manhattan office space.
The Sustainability Factor
You can't talk about NYC real estate in 2026 without mentioning Local Law 97. The city is cracking down on carbon emissions, and older buildings are freaking out. 1407 Broadway has been ahead of the curve here. The renovations included significant upgrades to the HVAC systems and energy-efficient lighting. It’s not just about saving the planet; it’s about avoiding the massive fines that are coming for buildings that can't get their energy "EUI" (Energy Use Intensity) scores down.
When you’re looking at a lease, you have to ask about these things. A building that hasn't modernized its core systems is a liability. 1407 is, thankfully, not in that category.
What Most People Get Wrong About This Neighborhood
There’s this idea that the Garment District is dead.
It’s not. It’s just different.
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The heavy manufacturing moved to China and Vietnam decades ago, obviously. But the "intellectual" side of fashion—the design, the marketing, the wholesale—is still very much rooted in these blocks. 1407 Broadway New York acts as the anchor for this. It keeps the neighborhood grounded while the surrounding blocks slowly transform into residential hotels and luxury condos.
It’s also surprisingly quiet inside. Broadway is a madhouse, but the window tech in the building is solid. You can watch the yellow cabs crawl by in a dead-stop traffic jam while you’re sitting in a silent conference room. It’s a surreal New York juxtaposition.
The Verdict on 1407 Broadway New York
Is it the flashiest building in the city? No.
Is it the most iconic? Probably not.
But it is one of the most functional, well-managed, and strategically located assets in Midtown. For a business owner, it checks the boxes that actually matter:
- Your employees can get there easily.
- The internet doesn't go down.
- The lobby doesn't look like it’s stuck in 1974.
- You won't get fired by the CFO for the rent price.
Practical Steps for Potential Tenants or Visitors
If you're looking at 1407 Broadway New York for your next office, don't just look at the floor plan.
- Visit at 8:30 AM. See how the elevator banks handle the rush. (They're surprisingly efficient for a building this size).
- Check the "Loss Factor." In New York, you pay for the space you use plus a percentage of the common areas. 1407 has a fairly standard loss factor, but always have your architect measure it out.
- Look at the light. The western-facing views over Broadway are spectacular in the late afternoon, but you’ll need good blinds if you don't want to melt.
- Test the commute. Walk the path from Penn Station or Grand Central. It’s a flat, easy walk, which is a major perk for morale.
The building is a survivor. It survived the decline of American manufacturing, the 2008 crash, and the pandemic-induced office "apocalypse." It’s still here, it’s still full, and it’s still one of the most important addresses on Broadway. If you want a slice of real New York business history that actually functions in the modern world, this is it.
Actionable Insights for the Savvy Move
If you're scouting this location, keep these specific points in mind to maximize your leverage:
- Sublease Opportunities: Because 1407 has many tech and media tenants, there are occasionally high-end "plug-and-play" subleases available. These can save you a fortune on build-out costs.
- The "Boutique" Floors: If your team is under 20 people, look at the higher floors where the building tapers. You get more windows per square foot and a much more "private" feel than the massive lower plates.
- Retail Synergy: If you're a tenant, use the ground-floor food hall as an extension of your office. It's a great spot for informal meetings without burning a conference room hour.
Midtown isn't going anywhere. Neither is 1407 Broadway. It remains a foundational piece of the New York skyline for anyone who actually has work to do.