Africa Israel and Five Mile Capital have appointed Cushman & Wakefield to market the flagship 250,000-square-foot retail condo at 229 W 43rd Street. Known as the Times Square Building, the 800,000-square-foot building is located on a through block lot between 43rd and 44th Street and between Seventh and Eighth Avenues, and it once housed the New York Times.
More than $50 million has been invested in redesigning the retail unit and turning it into a one-of-a-kind, urban retail center. In recent months, musical instrument retailer Guitar Center and Japanese restaurant chain Haru have signed leases for 28,000 square feet and 5,300 square feet in the building, respectively. A 210,000-square-foot portion of the property with frontage on 44th Street is currently leased by Guy’s American Kitchen and Discovery Times Square Exhibition with an average remaining lease term of 18 years.