Walk past the corner of 54th Street and Broadway and you'll see a lot of nothing. It's weird. You’re in the heart of Midtown Manhattan, surrounded by the neon hum of Times Square and the prestige of Billionaires' Row, yet 1710 Broadway New York remains a hauntingly vacant lot behind a dusty construction fence.
It wasn't always a hole in the ground.
For decades, this spot was a slice of New York's soul. It housed the Ford Motor Company showroom back in the day, a gorgeous piece of architecture designed by Albert Kahn. Later, it became the headquarters for Bad Boy Entertainment. Yeah, Sean "Diddy" Combs ran his empire from this very corner during the peak of the 90s and 2000s hip-hop explosion. If those walls could have talked, they would’ve whispered about platinum records and late-night deals. Now, there are no walls. Just dirt and a very expensive legal headache.
What actually happened to the building?
The demolition of the old 1710 Broadway was a "blink and you'll miss it" moment that left a lot of locals scratching their heads. In 2018, the wrecking balls came for the six-story structure. The plan was bold. Or maybe it was just another symptom of the luxury condo fever that gripped the city in the late 2010s.
Extell Development, led by the legendary and often polarizing Gary Barnett, had big dreams for this site. We're talking about a 54-story skyscraper. The vision included a mix of high-end hotel rooms and even higher-end residential units. Barnett is the guy behind One 57, the tower that basically started the "pencil thin" skyscraper trend. He doesn't do small.
But 1710 Broadway New York proved to be a different beast entirely.
The project hit a wall. Hard. It wasn't just the logistical nightmare of building in Midtown; it was a toxic cocktail of shifting markets, financing hurdles, and a global pandemic that turned the New York real estate world upside down. While other towers were topping out, 1710 Broadway stayed at ground level. It became a graveyard for ambitious blueprints.
The $100 Million Gamble
Real estate in Manhattan is basically a high-stakes poker game played with someone else’s money. Extell and its partners, including Pacific Eagle (a subsidiary of Great Eagle Holdings), poured massive amounts of capital into the acquisition and early stages. When you're carrying a site like this, the "carry costs"—interest, taxes, insurance—are astronomical.
Honestly, it’s a miracle the site hasn't been seized by the city.
The struggle at 1710 Broadway is a perfect case study in what happens when "Build it and they will come" meets "Maybe they won't." The luxury market softened. Foreign investment cooled off. Suddenly, a 50-story tower filled with $10 million condos felt less like a gold mine and more like an anchor.
The Design That Never Was
The renderings for the new 1710 Broadway were actually pretty striking. Unlike the glass boxes popping up everywhere, the proposed design featured a more tapered, sculptural look. It was supposed to add something unique to the skyline, not just another mirror for the sun to bounce off of.
Architects like those at Goldstein, Hill & West were attached to the vision. They wanted something that felt modern but acknowledged the scale of Broadway. But renderings are just expensive paintings if you can't get the steel in the ground.
Most people don't realize how much the loss of the original Albert Kahn building stung. It was a 1918 masterpiece. While it wasn't officially landmarked—a point of contention for preservationists—it had a character that a glass needle can’t replicate. By tearing it down before the financing was fully locked for the new tower, the developers basically traded a historic asset for a literal pit.
Why the site is still dormant
If you look at the site today, it looks like a pause button was hit in 2020 and nobody ever bothered to press play again.
There are a few theories.
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- Interest Rates: The Fed's aggressive hikes made the massive loans required for a project of this scale way more expensive.
- The Office Glut: While 1710 was slated for residential/hotel, the general downturn in Midtown commercial activity affects the "vibe" and viability of new luxury builds.
- Internal Friction: Rumors often swirl about disagreements between development partners when a project stalls for this long.
It's a mess.
You've got a prime piece of real estate that is effectively generating zero revenue while the city around it continues to evolve. It’s a gap tooth in the smile of Broadway.
The Future of 1710 Broadway New York
So, what’s next? Is it just going to stay a hole forever?
Probably not. New York land is too valuable for that. But the "how" and "when" are the big questions. There’s been talk of a pivot. Maybe the luxury condo dream is dead for this specific block. We might see a move toward a more "affordable" luxury hotel model, or perhaps a developer with deeper pockets will buy out the current stake and start fresh.
Late in 2023 and into 2024, there were signs of movement in the legal filings, but nothing has translated to cranes on the site. If you're betting on seeing a tower there by 2027, you might want to keep your money in your pocket for now.
The story of 1710 Broadway is a cautionary tale for developers who think they can outrun the market. It’s a reminder that even in a city as fast-paced as New York, things can grind to a halt in an instant.
Actionable Insights for Real Estate Watchers
If you’re tracking this site or similar developments in Manhattan, here is how to read between the lines of the construction fences.
Watch the DOB Filings
The New York City Department of Buildings (DOB) website is a goldmine. Don't look at the news; look at the permits. If you see "New Building" permits being renewed or "Work After Hours" requests, something is brewing. If the permits are expiring without renewal, the project is on life support.
Follow the Lenders
In Manhattan real estate, the bank is the real owner. Keep an eye on the debt. If a project like 1710 Broadway gets its debt sold to a "vulture fund" or a distressed asset firm, expect a total change in direction—or a quick sale.
The Neighborhood Indicator
Look at the surrounding blocks. The success or failure of nearby projects like the Aman New York or the renovations at Rockefeller Center dictates the "gravity" of 54th and Broadway. If those spots stay packed, 1710 becomes a more attractive "buy-it-and-fix-it" project for a rival developer.
Zoning Changes
New York is currently obsessed with converting old offices to residential. While 1710 is a ground-up build, any shifts in city incentives for housing could change the math for Extell. Keep an eye on City Hall’s "City of Yes" initiative; it might be the spark that finally gets the cement trucks moving again at 1710 Broadway New York.
The era of the "Billionaires' Row" skyscraper might be cooling, but the demand for New York dirt never truly dies. 1710 Broadway is waiting for its second act. Let's just hope it doesn't take another decade to find its script.