1600 Broadway Unit SI ID1508184P

1600 Broadway on the Square Condominium

Life at 1600 Broadway on the Square isn’t for everyone. But for those who thrive off the surrounding energy — filled with wide-eyed tourists, costumed characters, hustling street performers and brochure-toting salesmen — finding a property in this 25-story condominium is like hitting the jackpot, scoring last-minute tickets to “Wicked” or stumbling into a celebrity performance at the iconic Father Duffy Square. “I’ve had clients who bought here just so they could have a party and watch the ball drop on New Year’s Eve,” shares Nicole Gary, an associate real estate broker with Keller Williams. “After, they decorated and sold the unit for a profit. They ended up buying another unit [at 1600 Broadway] because they wanted to watch the ball drop again several years later.” The buzz of Times Square never dies down, and according to the Times Square Alliance, the area attracts an average of 240,000 to 280,000 people per day. But the atmosphere inside this glass-clad, 48th Street condo is definitely calmer. “You feel like you’re in the heart of everything, yet it’s exclusive and private,” Gary says. The attractions throughout Times Square are plentiful, but that didn’t stop developer Sherwood Equities from stacking the residential tower with additional amenities, most of which occupy the fourth floor. These spaces, collectively named “Club on the Square,” include a residents’ lounge with a pool table, bar and catering kitchen, a fitness center, virtual golf simulator and conference room. From the lounge, residents can access an outdoor space with grass, chaise lounges and views of the Times Square skyline. “The terrace is on the narrow side, but it wraps around a large part of the building,” Gary notes. Although the amenities are attractive, prospective buyers shouldn’t worry about overcrowding. In a 2006 article with the New York Times, Steven Novick, president of Sherwood Equities’ residential brokerage division, said that “most units are used as corporate apartments, pieds-à-terre or second homes.” The condominium only offers studios, one-bedrooms and two-bedrooms, totaling 137 units. Having been completed in the mid-aughts, the interiors aren’t very modern, but they’re not terribly outdated either. Original kitchens feature granite counters and pale wood cabinetry with integrated refrigerators, while bathrooms either have beige or blue-glass tiles. “Many of my clients put a lot of money into customizing these units, gutting the kitchen and doing their own thing, even bringing in handcrafted, mother of pearl finishes from Italy,” Gary says. Generally, the condos’ best feature is the floor-to-ceiling glass windows. In a typical building, owners would rave about the resulting natural light. But here, the glow of artificial light from Times Square’s omnipresent billboards is just as exciting. For a 2016 article about living in the area, 1600 Broadway on the Square resident Michael Wolk told the New York Times, “If I don’t draw the shades, I can read a book by the lights of the ‘Phantom of the Opera’ billboard across the street.” Though studios rarely come on the market at 1600 Broadway, in recent years, they have sold for between $625,000 and $745,000. One- and two-bedroom condos are easier to come by. One-bedrooms typically cost between $950,000 and $1.2 million, while prices for two-bedrooms range from $1.4 million to just under $2 million. Times Square may be the epitome of American commercialism, but Gary has found that it attracts a global clientele. “All of the deals I’ve done in this building have been for international buyers,” Gary shares. “When you’re a buyer who’s coming from outside of New York City, Times Square is viewed as the epicenter of Manhattan. They have every amenity, they’re close to Broadway, transportation, great restaurants.” Downstairs, the condo’s lobby doors are just several paces from the M&Ms Store, which opened in 2006 and is currently leasing the 25,000 square foot, three-floor retail space through 2036. In 2022, 1600 Broadway developer Sherwood Equities sold the commercial property for a whopping $190 million. Residents can catch impromptu performances and pop-ups at Father Duffy Square one block south, shop from national retailers or head to one of the many iconic theaters nearby for a Broadway show. As for dining, the area has a mix of chain restaurants and upscale, white-tablecloth eateries. The N, Q, R and W lines are available one block away from the building, and the 1 and 2 trains are available one block farther. There’s also the C, E train station or B, D train station, both roughly six minutes away on-foot. Although biking may prove difficult in this heavily car- and foot-trafficked area, there is a Citi Bike station across from the building. City-wide buses are available to the north or one avenue west, and Port Authority Bus Terminal is a half-mile away for longer journeys.