Paramount Plaza
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Paramount Plaza, also 1633 Broadway and formerly the Uris Building, is a 48-story skyscraper in the
Midtown Manhattan Midtown Manhattan is the central portion of the New York City borough of Manhattan and serves as the city's primary central business district. Midtown is home to some of the city's most prominent buildings, including the Empire State Buildin ...
neighborhood of
New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
. Designed by
Emery Roth and Sons Emery Roth ( hu, Róth Imre, July 17, 1871 – August 20, 1948) was an American architect of Hungarian-Jewish descent who designed many of the definitive New York City hotels and apartment buildings of the 1920s and 1930s, incorporating Beaux- ...
, the building was developed by the
Uris brothers Uris Buildings Corporation was a New York City commercial real estate development company created by Harold and Percy Uris in 1960 from a predecessor private partnership. They retained 60% ownership in the corporation. One of the last buildings ...
and was renamed for its owner, the Paramount Group, by 1980. Paramount Plaza occupies a site bounded by
Broadway Broadway may refer to: Theatre * Broadway Theatre (disambiguation) * Broadway theatre, theatrical productions in professional theatres near Broadway, Manhattan, New York City, U.S. ** Broadway (Manhattan), the street **Broadway Theatre (53rd Stree ...
to the east, 51st Street to the north, and 50th Street to the south. The building has a slab-like
massing Massing is a term in architecture which refers to the perception of the general shape and form as well as size of a building. Massing in architectural theory Massing refers to the structure in three dimensions (form), not just its outline from ...
, rising straight from street level to the roof, above ground. The facade is covered in dark glass and carries the name of German company
Allianz Allianz ( , ) is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. The company is one of the world's largest insurers and financial services groups. The ...
near the roof. There is a sunken plaza on the eastern side of the building, leading to the 50th Street station of the
New York City Subway The New York City Subway is a rapid transit system owned by the government of New York City and leased to the New York City Transit Authority, an affiliate agency of the state-run Metropolitan Transportation Authority (MTA). Opened on October 2 ...
, as well as a pedestrian corridor and driveway under the western side. The driveway and corridor lead to the building's two
Broadway Broadway may refer to: Theatre * Broadway Theatre (disambiguation) * Broadway theatre, theatrical productions in professional theatres near Broadway, Manhattan, New York City, U.S. ** Broadway (Manhattan), the street **Broadway Theatre (53rd Stree ...
theaters: the 1,900-seat
Gershwin Theatre The Gershwin Theatre (originally the Uris Theatre) is a Broadway theatre, Broadway theater at 222 West 51st Street (Manhattan), 51st Street, on the second floor of the Paramount Plaza office building, in the Midtown Manhattan neighborhood of New ...
on the second floor and the 650-seat
Circle in the Square Theatre The Circle in the Square Theatre is a Broadway theater at 235 West 50th Street, in the basement of Paramount Plaza, in the Midtown Manhattan neighborhood of New York City. It is one of two Broadway theaters that use a thrust stage that extends ...
in the basement. The Uris Buildings Corporation leased the site of the Capitol Theatre in 1967 and proposed a skyscraper on the site. The two Broadway theaters were included in exchange for additional floor area, and the building opened in August 1971. The building went into foreclosure in May 1974, just two years after it was completed, and the Paramount Group bought a majority ownership stake in the building in 1976. J.C. Penney and
Sears Sears, Roebuck and Co. ( ), commonly known as Sears, is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began a ...
initially took up much of the building's space, though the subsequent tenants came from a wider variety of fields, including law and finance. The retail space and plazas have been renovated multiple times during the building's history. The Paramount Group and several banks jointly owned the building until 2011, when Beacon Capital Group acquired a partial ownership stake; Paramount assumed full ownership in 2015.


Site

Paramount Plaza is on 1633
Broadway Broadway may refer to: Theatre * Broadway Theatre (disambiguation) * Broadway theatre, theatrical productions in professional theatres near Broadway, Manhattan, New York City, U.S. ** Broadway (Manhattan), the street **Broadway Theatre (53rd Stree ...
, near
Times Square Times Square is a major commercial intersection, tourist destination, entertainment hub, and neighborhood in Midtown Manhattan, New York City. It is formed by the junction of Broadway, Seventh Avenue, and 42nd Street. Together with adjacent ...
, in the
Theater District A theater district (also spelled theatre district) is a common name for a neighborhood containing several of a city's theatres. Places *Theater District, Manhattan, New York City *Boston Theater District *Buffalo Theater District *Cleveland Theater ...
of
Midtown Manhattan Midtown Manhattan is the central portion of the New York City borough of Manhattan and serves as the city's primary central business district. Midtown is home to some of the city's most prominent buildings, including the Empire State Buildin ...
in
New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
. The
land lot In real estate, a lot or plot is a tract or parcel of land owned or meant to be owned by some owner(s). A plot is essentially considered a parcel of real property in some countries or immovable property (meaning practically the same thing) in ...
takes up the eastern part of the city block bounded by Eighth Avenue to the west, 50th Street to the south, Broadway to the east, and 51st Street to the north. The lot covers , with a
frontage Frontage is the boundary between a plot of land or a building and the road onto which the plot or building fronts. Frontage may also refer to the full length of this boundary. This length is considered especially important for certain types of ...
of on Broadway and on 50th and 51st Streets. Nearby buildings include the
Mark Hellinger Theatre The Mark Hellinger Theatre (formerly the 51st Street Theatre and the Hollywood Theatre) is a church building at 237 West 51st Street in the Midtown Manhattan neighborhood of New York City, which formerly served as a cinema and a Broadway thea ...
( Times Square Church) to the north; the
Winter Garden Theatre The Winter Garden Theatre is a Broadway theatre at 1634 Broadway in the Midtown Manhattan neighborhood of New York City. It opened in 1911 under designs by architect William Albert Swasey. The Winter Garden's current design dates to 1922, when ...
to the east;
The Theater Center The Theater Center (known as The Snapple Theater Center until 2016) is a multi-theater entertainment complex located on the corner of 50th Street and Broadway in New York City New York, often called New York City o ...
,
Brill Building The Brill Building is an office building at 1619 Broadway on 49th Street in the New York City borough of Manhattan, just north of Times Square and further uptown from the historic musical Tin Pan Alley neighborhood. It was built in 1931 as t ...
, and Ambassador Theatre to the south; and
One Worldwide Plaza One Worldwide Plaza is the largest tower of Worldwide Plaza, a three-building commercial and residential complex in the Hell's Kitchen neighborhood of Manhattan in New York City. Designed by David Childs of Skidmore, Owings & Merrill (SOM), One ...
to the southwest. Since 1998, the section of 50th Street between Eighth Avenue and Broadway has been named Gershwin Way, after brothers and musical writers
George George may refer to: People * George (given name) * George (surname) * George (singer), American-Canadian singer George Nozuka, known by the mononym George * George Washington, First President of the United States * George W. Bush, 43rd Presid ...
and
Ira Gershwin Ira Gershwin (born Israel Gershovitz; December 6, 1896 – August 17, 1983) was an American lyricist who collaborated with his younger brother, composer George Gershwin, to create some of the most memorable songs in the English language of the 2 ...
. In the early 20th century, Paramount Plaza's site was occupied by low-rise buildings such as Kerrigan's Cafe. This was replaced by the Capitol Theatre, a movie palace built in 1919. The theater originally had 5,300 seats, but subsequent renovations reduced it to 1,325. The six-story theater building contained offices as well. By the late 1960s, the Capitol was one of Broadway's last major movie palaces, as many of the other movie palaces in the area had been demolished, including the Roxy and the
Paramount Paramount (from the word ''paramount'' meaning "above all others") may refer to: Entertainment and music companies * Paramount Global, also known simply as Paramount, an American mass media company formerly known as ViacomCBS. The following busin ...
. Next to the theater was a four-story building with a branch of the
New York Bank for Savings The New York Savings Bank is a historic bank building in Chelsea, Manhattan, New York City. It was built in 1896 by Robert Henderson Robertson with George Provot, and was added to the National Register of Historic Places on January 7, 2000. The ...
.


Architecture

Paramount Plaza, originally known as the Uris Building, was developed by the
Uris Buildings Corporation Uris Buildings Corporation was a New York City commercial real estate development company created by Harold and Percy Uris in 1960 from a predecessor private partnership. They retained 60% ownership in the corporation. One of the last building ...
and designed by
Emery Roth Emery Roth ( hu, Róth Imre, July 17, 1871 – August 20, 1948) was an American architect of Hungarian-Jewish descent who designed many of the definitive New York City hotels and apartment buildings of the 1920s and 1930s, incorporating Beaux ...
. The tower has 48 stories. Paramount Plaza has two
Broadway Broadway may refer to: Theatre * Broadway Theatre (disambiguation) * Broadway theatre, theatrical productions in professional theatres near Broadway, Manhattan, New York City, U.S. ** Broadway (Manhattan), the street **Broadway Theatre (53rd Stree ...
theaters: the
Gershwin Theatre The Gershwin Theatre (originally the Uris Theatre) is a Broadway theatre, Broadway theater at 222 West 51st Street (Manhattan), 51st Street, on the second floor of the Paramount Plaza office building, in the Midtown Manhattan neighborhood of New ...
on the second floor and the smaller
Circle in the Square Theatre The Circle in the Square Theatre is a Broadway theater at 235 West 50th Street, in the basement of Paramount Plaza, in the Midtown Manhattan neighborhood of New York City. It is one of two Broadway theaters that use a thrust stage that extends ...
in the basement. The building is named after its owner, the Paramount Group; it is not related to media conglomerate
Paramount Global Paramount Global (doing business as Paramount) is an American multinational mass media and entertainment conglomerate owned and operated by National Amusements (79.4%) and headquartered at One Astor Plaza in Midtown Manhattan, New York. I ...
, which is headquartered nearby at
One Astor Plaza One Astor Plaza, also known as 1515 Broadway and formerly the W. T. Grant Building, is a 54-story office building on Times Square in the Theater District, Manhattan, Theater District of Midtown Manhattan in New York City. Designed by Der Scutt o ...
but also has offices at Paramount Plaza.


Form and facade

Under normal
zoning Zoning is a method of urban planning in which a municipality or other tier of government divides land into areas called zones, each of which has a set of regulations for new development that differs from other zones. Zones may be defined for a si ...
regulations, the maximum
floor area ratio Floor area ratio (FAR) is the ratio of a building's total floor area (gross floor area) to the size of the piece of land upon which it is built. It is often used as one of the regulations in city planning along with the building-to-land ratio. The ...
(FAR) for any building on the tower's site was 15, but the developers received two bonuses of 20 percent each, bringing the FAR to 21.6. The developers had to include privately owned public spaces at the building's base for the first bonus, and they built new theaters for the second bonus. The Gershwin and Circle in the Square Theatres were built under a 1968 regulation that allowed office buildings to include a legitimate theater in exchange for additional floor area. The inclusion of the theaters allowed the Uris Buildings Corporation to add four more stories than would typically have been allowed. At the base of Paramount Plaza runs a promenade that connects 50th and 51st Street. The promenade measures tall and wide, with a terrazzo floor and advertisements on the walls. The promenade also functions as an entrance to the Gershwin and Circle in the Square theaters, and it does not have any stores. There are marquees for the theaters' entrances on both 50th and 51st Streets. A separate, parallel driveway for vehicles is immediately to the west; it can fit three lanes of traffic. There are also 200 parking spaces. The facade is made of tinted gray glass, separated by vertical aluminum
mullions A mullion is a vertical element that forms a division between units of a window or screen, or is used decoratively. It is also often used as a division between double doors. When dividing adjacent window units its primary purpose is a rigid supp ...
. The name of German financial services company
Allianz Allianz ( , ) is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. The company is one of the world's largest insurers and financial services groups. The ...
is affixed to the top of the building on all four sides.
Paul Goldberger Paul Goldberger (born in 1950) is an American author, architecture critic and lecturer. He is known for his "Sky Line" column in ''The New Yorker''. Biography Shortly after starting as a reporter at ''The New York Times'' in 1972, he was assign ...
criticized the building as having brought "nothing more than Third Avenue banality to a part of town that, whatever its social problems, has always been visually spectacular."


Plazas

The building originally contained two sunken plazas, which counted toward the building's zoning bonuses. Both plazas had ornamental fountains, which were removed in the 1990s. These sunken plazas were among the few such examples in the city; others exist at
Citigroup Center The Citigroup Center (formerly Citicorp Center and also known by its address, 601 Lexington Avenue) is an office skyscraper in the Midtown Manhattan neighborhood of New York City. Built in 1977 to house the headquarters of Citibank, it is tal ...
,
1221 Avenue of the Americas 1221 Avenue of the Americas (formerly also known as the McGraw-Hill Building) is an international-style skyscraper at 1221 Sixth Avenue, in Midtown Manhattan, New York City. The 51-floor structure has a seven-story base and a simple, cuboid ma ...
, and formerly at
1345 Avenue of the Americas 1345 Avenue of the Americas, also known as the Building, is a -tall, 50-story skyscraper in Midtown Manhattan, New York City. Located on Sixth Avenue between 54th and 55th Streets, the building was built by Fisher Brothers and designed by ...
and the
General Motors Building A general officer is an officer of high rank in the armies, and in some nations' air forces, space forces, and marines or naval infantry. In some usages the term "general officer" refers to a rank above colonel."general, adj. and n.". OED O ...
. The plazas were accompanied by retail spaces that, due to their location, were hard to rent out. A 2000 study of privately owned public spaces in New York City ranked 1633 Broadway's plazas as "circulation" and "hiatus" spaces, which were not as unwelcoming as "marginal" spaces but also did not attract visitors from across the city or the neighborhood. The southern sunken plaza has an entrance to the 50th Street station of the
New York City Subway The New York City Subway is a rapid transit system owned by the government of New York City and leased to the New York City Transit Authority, an affiliate agency of the state-run Metropolitan Transportation Authority (MTA). Opened on October 2 ...
, served by the . The theme restaurant Mars 2112 had opened within the northern sunken plaza in November 1998 and closed in January 2012. It contained a
UFO An unidentified flying object (UFO), more recently renamed by US officials as a UAP (unidentified aerial phenomenon), is any perceived aerial phenomenon that cannot be immediately identified or explained. On investigation, most UFOs are id ...
-like elevator, a "Mars Bar", a "Space Arcade", and a three-story Crystal Crater. After Mars 2112 closed, a glass retail cube was installed in the northern part of the plaza. The cube, designed by MdeAS Architects, serves as an entrance to a double-level retail space in the basement, which spans .


Interior

According to the
New York City Department of City Planning The Department of City Planning (DCP) is the department of the government of New York City responsible for setting the framework of city's physical and socioeconomic planning. The department is responsible for land use and environmental review, p ...
, Paramount Plaza has a
gross floor area In architecture, construction, and real estate, floor area, floor space, or floorspace is the area (measured as square feet or square metres) taken up by a building or part of it. The ways of defining "floor area" depend on what factors of the buil ...
of and is divided into 47 ownership
condominium A condominium (or condo for short) is an ownership structure whereby a building is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. The term can be applied to the building or complex ...
s. Paramount Plaza has 42 elevators and eight escalators. The Uris Building did not renumber its 13th floor out of superstition, as other high-rises did; this led the ''New York Daily News'' to call it "the only New York skyscraper to call the 13th floor the 13th floor". Some offices were fitted with additional decorations; for example, accounting firm Touche, Ross, Bailey Smart added curving staircases between two of its five floors.


Theaters

Paramount Plaza has two Broadway theaters: the Gershwin Theatre and the Circle in the Square Theatre. Paramount Plaza's two venues, along with the Minskoff and American Place theaters, were constructed under the Special Theater District amendment of 1967 as a way to give their respective developers additional floor area. The Gershwin opened in 1972 as the Uris Theatre and contained 1,900 seats. Located at the second floor, the Gershwin was designed by
Ralph Alswang Ralph Alswang (April 12, 1916 – February 1979) was an American theatre and film director, designer, and producer. He designed scenery, lighting, and costumes for nearly 100 Broadway productions. He also designed venues such as the George Gershwin ...
in what was described as an
Art Nouveau Art Nouveau (; ) is an international style of art, architecture, and applied art, especially the decorative arts. The style is known by different names in different languages: in German, in Italian, in Catalan, and also known as the Modern ...
style. Escalators and a staircase lead from the ground floor to the Gershwin Theater's second-floor lobby, which contains the
American Theater Hall of Fame The American Theater Hall of Fame in New York City was founded in 1972. Earl Blackwell was the first head of the organization's Executive Committee. In an announcement in 1972, he said that the new ''Theater Hall of Fame'' would be located in the ...
. The Gershwin's seats are spread across two levels: an orchestra and a smaller mezzanine. The stage was designed with a flexible layout and could be disassembled or extended forward. The Gershwin was the first commercial theater in the U.S. to have a completely automated rigging system. The
Nederlander Organization The Nederlander Organization, founded in 1912 by David T. Nederlander in Detroit, and currently based in New York City, is one of the largest operators of live theaters and music venues in the United States. Its first acquisition was a lease on ...
operates the theater. The Circle in the Square Theatre contains 650 seats and is in the building's basement. It was designed by Allen Sayles, with a lighting system designed by
Jules Fisher Jules Fisher (born November 12, 1937) is an American lighting designer and producer. He is credited with lighting designs for more than 300 productions over the course of his 50-year career in Broadway and off-Broadway shows, as well extensive ...
. The Circle operates its own venue, which was originally known as the Circle in the Square–Joseph E. Levine Theatre. The space was originally meant as an off-Broadway house with fewer than 500 seats, but the Circle's artistic director
Theodore Mann Theodore Mann, birth name Goldman, (May 13, 1924 – February 24, 2012) was an American theatre producer and director and the Artistic Director of the Circle in the Square Theatre School. Mann co-founded Circle in the Square Theatre, widely r ...
and its managing director Paul Libin increased the capacity by relocating columns and replaced steps with ramps. The top of the auditorium contains soundproof panels, which minimized noise from police horses when the theater opened. The Circle contains a
thrust stage In theatre, a thrust stage (also known as a platform stage or open stage) is one that extends into the audience on three sides and is connected to the backstage area by its upstage end. A thrust has the benefit of greater intimacy between perform ...
, with seats surrounding it on three sides. It is one of two Broadway houses with a thrust stage; the other is
Lincoln Center Lincoln Center for the Performing Arts (also simply known as Lincoln Center) is a complex of buildings in the Lincoln Square neighborhood on the Upper West Side of Manhattan. It has thirty indoor and outdoor facilities and is host to 5 millio ...
's
Vivian Beaumont Theater The Vivian Beaumont Theater is a Broadway theater in the Lincoln Center complex at 150 West 65th Street on the Upper West Side of Manhattan in New York City. Operated by the nonprofit Lincoln Center Theater (LCT), the Beaumont is the only Bro ...
. Because of the stage's unconventional design, theatrical critics negatively reviewed it, while directors had difficulty staging productions there.


History

After World War II, development of theaters around Times Square stalled, and the area began to evolve into a business district. In 1966, the year before plans for the Uris Building were announced, companies had signed leases for of office space in Manhattan, the highest level in several years. The amount of office space being developed at the time was not sufficient to meet demand. The Uris Buildings Corporation bought an option in April 1967 to acquire the Capitol Theatre and the land around it from the theater's owner,
Loews Cineplex Entertainment Loews Cineplex Entertainment, also known as Loews Incorporated, is an American theater chain operating in North America. From 1924 until 1959, it was also the parent company of Metro-Goldwyn-Mayer Studios (MGM). The company was originally cal ...
. At the time, Uris was considering replacing the theater with an office building but had made no definite plans.


Development

In September 1967, Uris leased the Capitol site for 100 years and announced it would build an office tower and a Broadway theater on the site of the Capitol Theatre. The building was to have across 51 stories, with a plaza on the eastern 60 percent of the site. The Broadway theater would have 1,500 to 2,000 seats. In October 1967, the
New York City Planning Commission The Department of City Planning (DCP) is the department of the government of New York City responsible for setting the framework of city's physical and socioeconomic planning. The department is responsible for land use and environmental review, p ...
(CPC) proposed the Special Theater District Zoning Amendment, which gave zoning bonuses to office-building developers who included theaters. The proposed legislation would directly allow theaters in One Astor Plaza and the Uris Building, which would be the first completely new Broadway theaters since the Mark Hellinger Theatre was completed in 1930. The CPC approved the theater amendment that November, and the
New York City Board of Estimate The New York City Board of Estimate was a governmental body in New York City responsible for numerous areas of municipal policy and decisions, including the city budget, land-use, contracts, franchises, and water rates. Under the amendments effec ...
gave final approval to the proposal the next month. The Uris Buildings Corporation agreed in February 1968 to build a second theater, the Circle in the Square Theatre, in the basement upon the CPC's request. The new theater was originally supposed to be an experimental theater with 300 to 375 seats, but this was then increased to 650 seats. In April 1968, the CPC scheduled a public hearing to determine whether the Astor and Uris theater permits should be approved. Six parties testified in favor;
the Shubert Organization The Shubert Organization is a theatrical producing organization and a major owner of theatres based in Manhattan, New York City. It was founded by the three Shubert brothers in the late 19th century. They steadily expanded, owning many theaters ...
, the largest operator of Broadway theaters, was the only dissenting speaker. The CPC approved the theaters over the Shuberts' objections, as did the Board of Estimate. The Capitol was closed on September 16, 1968, to make way for what is now Paramount Plaza. That month, Uris made a tentative deal with
James M. Nederlander James M. Nederlander (March 31, 1922 – July 25, 2016) was an American theatrical producer who served as chairman of the Nederlander Organization, one of the largest operators of live theaters and music venues in the United States.
and Gerard Oestricher to operate the Uris Theatre, the larger of the building's two theaters. To fund the building's construction, Uris borrowed $62 million from a consortium of banks led by
Irving Trust Irving Trust was an American Commercial bank headquartered in New York City that operated between 1851 and 1988 when it was acquired by Bank of New York. From 1965 the bank was the principal subsidiary of the Irving Bank Corporation. Between 1913 ...
. Much of the space had been rented by November 1969. Among the early tenants with several floors of space were accounting firm Touche, Ross, Bailey Smart; automotive appliance manufacturer Bendix International; and the
New York Telephone Company The New York Telephone Company (NYTel) was organized in 1896, taking over the New York City operations of the American Bell Telephone Company. Predecessor companies The Telephone Company of New York was formed under franchise in 1876. The princi ...
. Even so, the inclusion of theaters inside the Uris Building raised construction costs, even as office tenants were scarce. By 1970, a combined of office space was being developed along Broadway in Midtown, much of which stood vacant due to a slowdown in office leasing. That December, the city's Department of Air Resources issued summonses to several contractors at the Uris Building after the department found that contractors were spraying
asbestos Asbestos () is a naturally occurring fibrous silicate mineral. There are six types, all of which are composed of long and thin fibrous crystals, each fibre being composed of many microscopic "fibrils" that can be released into the atmosphere b ...
fireproofing in violation of environmental laws.
Sears, Roebuck and Company Sears, Roebuck and Co. ( ), commonly known as Sears, is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began a ...
sought to lease much of the building's remaining office space, but the deal initially failed in mid-1971.


Opening and early years

The building officially opened in August 1971. A theatrical hall of fame for the Uris Theatre was announced in March 1972, as the building was being completed. The Circle in the Square Theatre in the basement opened for inspection on October 2, 1972, and had its first performance on November 15. The Uris Theatre on the building's second floor opened on November 19 of that year. In one of the city's largest office transactions in several years, Sears, Roebuck and Company leased eleven stories for its sales division in January 1973, moving in the next year. City officials praised the lease, which was expanded in November 1973 to 15 stories, as part of a revitalization of the Times Square neighborhood. Meanwhile, after Percy Uris had died in 1971, his brother
Harold Harold may refer to: People * Harold (given name), including a list of persons and fictional characters with the name * Harold (surname), surname in the English language * András Arató, known in meme culture as "Hide the Pain Harold" Arts a ...
began negotiating to sell off all his company's assets, including 1633 Broadway. By late 1973,
National Kinney Corporation National Kinney Corporation was a parking, property management services, and real estate development company based in New York City. It was established on August 7, 1971 when Kinney National Company spun off its non-entertainment assets due to a f ...
had bought a majority stake in the Uris properties. The Uris Buildings Corporation failed to pay the construction loan, which was due at the end of December 1973 and was extended multiple times. Uris decided not to extend the loan because it would not provide additional funding to cover operating and carrying costs. At that time, 12.5 percent of office space in Manhattan was vacant, higher than the 5-percent rate that the real-estate community generally accepted. The vacancy rate at the Uris Building was 30 percent. Irving Trust and the other lenders launched foreclosure proceedings in March 1974, the first time in a decade that a new office building in New York City had been foreclosed upon. Two months later, the lenders paid nearly $69 million for the bankrupted building. Harold Uris had opposed the foreclosure proceeding, saying: "Hell would freeze over before I would have let a Uris building go under like that." After J. C. Penney leased of space that August, only five percent of the space was still vacant. However, ''
Newsday ''Newsday'' is an American daily newspaper that primarily serves Nassau and Suffolk counties on Long Island, although it is also sold throughout the New York metropolitan area. The slogan of the newspaper is "Newsday, Your Eye on LI", and f ...
'' reported in December 1975 that the building had a 10 percent vacancy rate, even though its owners had spent millions of dollars on renovations. Other tenants at the time included the
City University of New York The City University of New York ( CUNY; , ) is the Public university, public university system of Education in New York City, New York City. It is the largest urban university system in the United States, comprising 25 campuses: eleven Upper divis ...
. Irving Trust sold the building in October 1976 to a private investment group. The buyer, Metropolitan Realty Investments, paid $80 million; it represented the Otto family of Germany, which operated in the United States under the Paramount Group name. Sears announced in 1978 that it would relocate most of its 2,000 employees at the Uris Building to the
Sears Tower The Willis Tower (originally the Sears Tower) is a 108- story, skyscraper in the Loop community area of Chicago in Illinois, United States. Designed by architect Bruce Graham and engineer Fazlur Rahman Khan of Skidmore, Owings & Merrill (SOM ...
in Chicago. The next year, the
United States Postal Service The United States Postal Service (USPS), also known as the Post Office, U.S. Mail, or Postal Service, is an independent agency of the executive branch of the United States federal government responsible for providing postal service in the U ...
announced it would move a regional headquarters into part of the former Sears space, and James Talcott Factors Inc. also leased some space.


1980s to 2000s

By 1980, the structure was known as Paramount Plaza; the city government classified the new name as a vanity address. At that time, Sears had moved its remaining employees out of the building. Two years later, Lüchow's restaurant leased space in one of the sunken plazas. Among the building's other office tenants during the decade were
New American Library The New American Library (also known as NAL) is an American publisher based in New York, founded in 1948. Its initial focus was affordable paperback reprints of classics and scholarly works as well as popular and pulp fiction, but it now publish ...
and the Federal Mediation and Conciliation Service. In 1987, J. C. Penney indicated that it intended to move all of its New York City employees to Dallas, freeing up a large amount of office space at Paramount Plaza; the relocation was completed by 1994. Landscape architect Thomas Balsley redesigned the building's public plaza in the late 1980s, as the plaza had been fairly unsuccessful despite the presence of retail tenants. Balsley added landscaping and benches to the ground-level portion of the plaza, and he added fountains, staircases, and new lighting and floor surfaces to the sunken plazas. The redesign took more than two years. The Rodgers & Hammerstein Organization and the
Really Useful Group The Really Useful Group Ltd. (RUG) is an international company set up in 1977 by Andrew Lloyd Webber. It is involved in theatre, film, television, video and concert productions, merchandising, magazine publishing, records and music publishing. ...
leased space in Paramount Plaza in 1990. At the time, the building had few tenants in the music industry, even though many music-related companies had historically been headquartered nearby in the Brill Building.
Deloitte Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of profession ...
, one of the
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, moved its global headquarters there after the
1993 World Trade Center bombing The 1993 World Trade Center bombing was a terrorist attack on the World Trade Center in New York City, U.S., carried out on February 26, 1993, when a van bomb detonated below the North Tower of the complex. The urea nitrate–hydrogen gas en ...
. It subsequently subleased to
Paramount Communications Paramount Pictures Corporation is an American film and television production and distribution company and the main namesake division of Paramount Global (formerly ViacomCBS). It is the fifth-oldest film studio in the world, the second-oldest ...
' parent company
Viacom Viacom, an abbreviation of Video and Audio Communications, may refer to: * Viacom (1952–2006), a former American media conglomerate * Viacom (2005–2019), a former company spun off from the original Viacom * Viacom18, a joint venture between Par ...
. Other tenants during that decade included financial firm
Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...
, cable TV network
Showtime Showtime or Show Time may refer to: Film * ''Showtime'' (film), a 2002 American action/comedy film * ''Showtime'' (video), a 1995 live concert video by Blur Television Networks and channels * Showtime Networks, a division of Paramount Global w ...
, the
New York Power Authority The New York Power Authority (NYPA), officially the Power Authority of the State of New York, is a New York State public-benefit corporation. It is the largest state public power utility in the United States. NYPA provides some of the lowest-co ...
, law firm Brobeck, Phleger & Harrison, and the
American Management Association The American Management Association (AMA) is an American non-profit educational membership organization for the promotion of management, based in New York City. Besides its headquarters there, it has local head offices throughout the world. It o ...
. In 1999,
Nickelodeon Nickelodeon (often shortened to Nick) is an American pay television television channel, channel which launched on April 1, 1979, as the first cable channel for children. It is run by Paramount Global through its List of assets owned by Param ...
opened an
animation studio An animation studio is a company producing animated media. The broadest such companies conceive of products to produce, own the physical equipment for production, employ operators for that equipment, and hold a major stake in the sales or rentals ...
for
Nick Jr Nick Jr. (known on-air as the Nick Jr. Channel) is an American pay television channel spun off from Nickelodeon's long-running programming block of the same name. It is run by Paramount Global through its networks division's Kids and Family Gr ...
programs in the building. Paramount Group hired a consultant in late 1995 to study uses for the building's retail spaces. Subsequently, the stores were renovated and leased to three tenants in the late 1990s. Mars 2112 leased the northern plaza, Cosi Sandwiches leased a ground-floor storefront, and fitness club
Equinox A solar equinox is a moment in time when the Sun crosses the Earth's equator, which is to say, appears directly above the equator, rather than north or south of the equator. On the day of the equinox, the Sun appears to rise "due east" and se ...
took space in the concourse and sub-concourse. Law firm Kasowitz, Benson, Torres & Friedman leased space at 1633 Broadway for its global headquarters in 2000, and financial firm
FleetBoston FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were converted to Bank of America. History ...
also rented three stories. Other tenants included the
Bank of America The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank w ...
, which had a trading floor there. During that decade, Paramount Plaza contained a business center shared by several small tenants. By the late 2000s, Paramount Group was marketing some of the building's office space for short-term lease.


2010s to present

In 2010, financial services company
Allianz Allianz ( , ) is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. The company is one of the world's largest insurers and financial services groups. The ...
announced it would move its North American headquarters to 1633 Broadway, receiving the right to place its name atop the building's roof. Industrial and Commercial Bank of China also leased space that year, as did
Carnegie Hall Carnegie Hall ( ) is a concert venue in Midtown Manhattan in New York City. It is at 881 Seventh Avenue (Manhattan), Seventh Avenue, occupying the east side of Seventh Avenue between West 56th Street (Manhattan), 56th and 57th Street (Manhatta ...
. The next year, Paramount Group partnered with Beacon Capital Group to acquire Merrill Lynch & Co., Bank of America, and Morgan Stanley's 49 percent ownership stake. The deal valued the building at $2 billion. Paramount increased its ownership stake from 51 to 75 percent, with Beacon owning the remaining 25 percent. Paramount then marketed a partial ownership stake in the building. Additionally, the owners hired Phillips Group in 2011 to renovate the lobby. Music conglomerate
Warner Music Group Warner Music Group Corp. ( d.b.a. Warner Music Group, commonly abbreviated as WMG) is an American multinational entertainment and record label conglomerate headquartered in New York City. It is one of the " big three" recording companies and t ...
leased six floors in 2013, and Kasowitz Benson Torres renewed its lease the same year. Paramount continued to own the structure in partnership with Beacon until 2015, when Paramount bought Beacon's 25 percent stake for $478.3 million. The same year, toy store
FAO Schwarz FAO Schwarz is an American toy brand and store. The company is known for its high-end toys, life-sized stuffed animals, interactive experiences, brand integrations, and games. FAO Schwarz claims to be the oldest toy store in the United States ...
was negotiating to lease some retail space in 1633 Broadway, but the deal failed. Paramount then announced plans to replace the northern sunken plaza with a glass retail cube. In late 2015,
Landesbank Baden-Württemberg Landesbank Baden-Württemberg (LBBW) is a universal bank and the Landesbank for some Federal States of Germany (Baden-Württemberg, Rheinland-Pfalz, Sachsen). As of 2018, it is Germany's biggest state-backed landesbank lender. LBBW is a full-serv ...
gave Paramount a $1 billion loan for the building, which was finalized the next February. Deloitte announced in early 2016 that it would vacate a section of the building. Several office tenants signed leases in the late 2010s, including the Clinton Foundation, newspaper company
Gannett Gannett Co., Inc. () is an American mass media holding company headquartered in McLean, Virginia, in the Washington, D.C., metropolitan area.MongoDB MongoDB is a source-available cross-platform document-oriented database program. Classified as a NoSQL database program, MongoDB uses JSON-like documents with optional schemas. MongoDB is developed by MongoDB Inc. and licensed under the Serve ...
, and investment manager New Mountain Capital. Paramount refinanced the building in November 2019 for $1.25 billion. The next April, Paramount indicated it would enter a joint venture with an unnamed investor to sell a 10 percent stake in 1633 Broadway. The sale was completed the next month at a price of $240 million. This provided extra cash for the firm amid a decline in office leasing due to the
COVID-19 pandemic in New York City The first case of the COVID-19 pandemic in New York City was confirmed on March 1, 2020, though later research showed that the novel coronavirus had been circulating in New York City since January, with cases of community transmission confirme ...
. In February 2022, Taiwanese restaurant chain
Din Tai Fung Din Tai Fung (; Pha̍k-fa-sṳ: Tín-thai-fûng) is a Taiwanese restaurant chain. Outside Taiwan, Din Tai Fung also has branches in Australia, China, Hong Kong, Indonesia, Japan, Macau, Malaysia, Philippines, Singapore, South Korea, Thailand ...
leased the retail space in Paramount Plaza's glass cube.


Tenants

As of October 31, 2019, the building was 98.4% leased to tenants including: *Floors 2-3:
Bleacher Report Bleacher Report (often abbreviated as B/R) is a website that focuses on sport and sports culture. Its headquarters are in San Francisco, with offices in New York City and London. Bleacher Report was acquired by Turner Broadcasting System in Aug ...
*Floors 4 and 7-11:
Warner Music Group Warner Music Group Corp. ( d.b.a. Warner Music Group, commonly abbreviated as WMG) is an American multinational entertainment and record label conglomerate headquartered in New York City. It is one of the " big three" recording companies and t ...
*Floor 6: MTV Satellite Radio *Floors 13-17:
Showtime Networks Showtime Networks Inc. is an American entertainment company that oversees the company's pay television, premium cable television television channel, channels, including its flagship service Showtime (TV network), Showtime. It is a subsidiary of me ...
*Floors 18 and 28: Industrial and Commercial Bank of China *Floors 19-22: Kasowitz Benson Torres *Floors 26, 27, 29, 30, and 33:
Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...
*Floors 37-38:
MongoDB Inc. MongoDB, Inc. is an American software company that develops and provides commercial support for the source-available database MongoDB, a NoSQL database that stores data in JSON-like documents with flexible schemas. History The company was first ...
*Floors 39-40:
Charter Communications Charter Communications, Inc., is an American telecommunications and mass media company with services branded as Spectrum. With over 32 million customers in 41 states, it is the second-largest cable operator in the United States by subscribers, ...
*Floors 41-46:
Allianz Allianz ( , ) is a German multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. The company is one of the world's largest insurers and financial services groups. The ...
*Floors 47-48: New Mountain Capital


References


Notes


Citations


Sources

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External links

* {{Authority control 1971 establishments in New York City Broadway (Manhattan) Broadway theatre Emery Roth buildings Midtown Manhattan Office buildings completed in 1971 Skyscraper office buildings in Manhattan