Hubb NYC Leases 11,578 Square Feet at 1501 Broadway
The tech-focused firm is relocating its offices from Fifth Avenue to a Midtown building near Times Square.
Updated on Nov. 2, 2026 in Commercial
Hubb NYC signed an 11,578-square-foot lease on the fifth floor of 1501 Broadway, moving from Stawski Partners' 579 Fifth Avenue location. CBRE represented the landlord in the deal, and the lease terms were not disclosed.
Why it matters
The move reflects continued office leasing activity in Midtown Manhattan, where average asking rents stood at $85.53 per square foot in the third quarter. For New York City's commercial real estate market, the deal adds to a series of recent large-format lease signings.
The lease covers 11,578 square feet on the fifth floor of 1501 Broadway, while the Midtown average asking rent was $85.53 per square foot in the third quarter. CBRE did not disclose the per-square-foot rent or the lease term for this transaction.
The players
CBRE
CBRE is a global commercial real estate services firm that represented both the landlord and Hubb NYC in this lease transaction.
Hubb NYC
Hubb NYC is a tech-focused company that signed the 11,578-square-foot lease and is relocating from Fifth Avenue to Broadway.
The details
CBRE represented the landlord, and a separate CBRE team represented Hubb NYC in the transaction. Ryan Alexander represented the landlord alongside Sam Spillane, Graham Walter, Nicole Marshall and Jared Isaacson.
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.
Market Landscape
Midtown office asking rents of $85.53 per square foot in the third quarter frame this lease within the borough's competitive office market. Recent large leases at 1501 Broadway, including CityPickle's 37,000-square-foot deal, show continued tenant demand in the building.
Office tenants and brokers tracking Midtown space should note the $85.53 per-square-foot average asking rent for planning budgets. Commercial lease terms like these are often negotiated privately, so the published asking rent may differ from final deal pricing.
The takeaway
Companies relocating within Midtown are weighing space quality against rising rents, and this deal shows that trade-off in action. Tenants comparing options should request full lease comparables, since asking rents alone do not capture concessions or term length.
Further reading
Explore more New York City Commercial real estate coverage for context on office leasing trends.
Source note: This article includes information reported by Commercial Observer.
