Hubb NYC Takes 11,578 Square Feet at 1501 Broadway
The Midtown lease signals continued office activity that can shape the blocks around your home.
Updated on Nov. 2, 2026 in Commercial
Hubb NYC signed an 11,578-square-foot lease on the fifth floor of 1501 Broadway, moving its offices from Stawski Partners' 579 Fifth Avenue. CBRE did not disclose the asking rent or the length of the lease.
Why it matters
The move is one more signal of office tenants reshuffling space in New York City's commercial market, where Midtown's average office asking rent was $85.53 per square foot in the third quarter. For households, commercial leasing activity shapes the local office and retail environment, nearby property values, and the commuting and business patterns that influence neighborhood life.
Hubb NYC signed an 11,578-square-foot lease on the fifth floor of 1501 Broadway, a move from Stawski Partners' 579 Fifth Avenue. CBRE represented the landlord, with a separate CBRE team representing Hubb NYC, and the asking rent and lease length were not disclosed.
The players
CBRE
A major commercial real estate brokerage that represented the landlord and a separate team representing Hubb NYC in this lease.
Ryan Alexander
A CBRE broker who represented the landlord in the 1501 Broadway lease.
The details
Ryan Alexander represented the landlord alongside Sam Spillane, Graham Walter, Nicole Marshall and Jared Isaacson, while a separate CBRE team represented the tenant. The lease covers the fifth floor of the building, which is described as sitting in the Times Square area. Because the lease terms were kept private, the deal's economics can only be placed against the broader Midtown benchmark of $85.53 per square foot in the third quarter.
Timeline
February 2025: Martha Graham Dance Company took 30,000 square feet for a new headquarters.
July 2025: CityPickle signed a 37,000-square-foot lease in the same building.
Third quarter: Midtown average office asking rent was reported at $85.53 per square foot.
The Home Front
This lease sits within a Midtown office market where the average asking rent was $85.53 per square foot in the third quarter. Recent deals at 1501 Broadway, including the 30,000-square-foot Martha Graham Dance Company headquarters and CityPickle's 37,000-square-foot lease, show tenants of different types committing space in the same building.
If you rent or own near Midtown, watch how office tenant activity affects foot traffic, storefront availability and the local mix of businesses in your neighborhood. For a homeowner weighing a move or a property purchase, a licensed real estate agent can help you read local market conditions against these recent office-lease benchmarks.
The takeaway
Commercial leases like Hubb NYC's signal where businesses are choosing to locate, which can ripple into the streets and property values households live near. Keep an eye on Midtown asking rents as a benchmark when following how the neighborhoods around you are changing.
Further reading
For broader context on how office deals like this one shape the market, see Commercial listings and trends in New York City.
Source note: This article includes information reported by Commercial Observer.
