Broadway 4D, a musical entertainment attraction, opens at the Liberty Theater in Times Square.
The entertainment project has signed a lease for approximately 25,000 square feet at 234 West 42nd Street from Brookfield (BN) and Madison International Realty, a person familiar with the deal told Commercial Observer.
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Alan Schmelzler and Diana Boutros of Cushman & Wakefield (CWK), who represented the landlord, declined to comment. Gary Truck of CBRE, who represents the tenant, did not respond to a request for comment. The Real Deal first reported the news.
Lease terms and asking rents are unknown, but retail rents in Manhattan averaged $716 per square foot in the second quarter of 2024, according to a report from CBRE.
According to Playbill, the idea for Broadway 4D began in 2012 as an immersive attraction that blended 3D and 4D technology to celebrate the history of Broadway musicals. The project was originally planned for the Times Square Theater on West 42nd Street, but fell through in 2014 due to financial difficulties and building renovations.
In 2015, film producers Elie Samaha and Donald Kushner founded 1991 Broadway Theater Group, which was founded by Broadway producer Gary Goddard, entertainment lawyer Robert Colley, and filmmaker Brian Brian. Playbill reported that it acquired the project from Singer and Jeff Sagansky.
Now, the new owners are moving the project to the Liberty Theater between 7th and 8th Avenues. According to TRD, Broadway 4D will not open in its new spot for at least a year as it requires some renovations and interior improvements.
The West 42nd Street building also houses the Hilton New York Times Square hotel, which was developed by Forest City Ratner Companies in the 1990s as part of the “New 42” project, TRD reports. . The project also included the Liberty Theater, which was built in 1904 for musicals and converted into a movie theater in 1933, the paper said.
Broadway 4D joins other tenants such as Dave & Buster’s and Applebee’s.
Isabelle Durso can be reached at idurso@commercialobserver.com.