Construction has officially topped out on TSX Broadway, a 46-story mixed-use hotel tower at 1568 Broadway in Times Square. Designed by Perkins Eastman and Mancini Duffy and developed by L&L Holding Company and Fortress Investment Group, the 470-foot-tall structure will yield 550,000 square feet with a 669-key hotel, retail space, restaurants, and an outdoor performance venue that overlooks Times Square. The building will also serve as the new home of the historic Palace Theatre, which is being raised 30 feet to make room for ground-floor retail space. The project is projected to cost $2.5 billion and debut early 2023.
“We are proud to announce the topping off of TSX Broadway, a project that is revitalizing Times Square and emerging as a symbol of hope for New York City in one of its most iconic destinations,” said David W. Levinson, chairman and CEO of L&L Holding Company. “While the vision for this project has remained the same since its inception, the world around it has drastically changed—making TSX Broadway even more relevant for what a new development should look and feel like in our current moment.”
At the beginning of 2022, construction teams began a delicate, multi-phase integration of the existing Palace Theatre. Led by PBDW Architects, this involves raising the venue with massive hydraulic lifts installed beneath the foundation. The building’s hotel volume will be built around the theater and a new retail corridor installed below.
“Today marks an incredibly exciting milestone for a one-of-a-kind project,” said Robert Israel, executive vice president of L&L Holding Company. “Through the challenges of the past few years and the extensive design process, it is an honor to have watched this building rise above Times Square.”
The project team for TSX Broadway also includes Sensory Interactive, which designed the building’s LED programming and branded signage. Pavarini McGovern is the project’s general contractor.