LaRue Allen Of Martha Graham Dance Co Signs 32-Year Lease With William Farber At 1501 Broadway

The property involved in the transaction is an office asset located at 1501 Broadway in the West Village market. This property encompasses 30,757 square feet and is part of the landmarked Paramount Building, which is owned by Levin Management.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Address: 1501 Broadway
• Market: West Village
• Landlord: William Farber - Paramount Leasehold LP
• Tenant: LaRue Allen - Martha Graham Dance Co
• Lease Term: 32 years

The key individuals in this transaction include William Farber, representing the landlord, and LaRue Allen, representing the tenant, Martha Graham Dance Co. The company will be relocating from Westbeth Home of the Arts to the new space in 2026, with plans for approximately $8 million in studio build-out costs.