Deals & development · 11/02/2026
Midtown real estate firm relocating to Paramount Building
HUBB NYC, a Midtown real estate firm, plans to move its office to the Paramount Building, Crain's New York reports. The move is expected by 04/2027. The report does not give lease size, terms or other deal details.
Reported by Crain's New YorkRead the original ↗
What happened
Hubb NYC, a company that owns residential and retail property, has signed a lease to move its offices to the Paramount Building at 1501 Broadway in Midtown. Crain's New York reported on 11/02/2026 that the firm will move by 04/2027. Crain's gave only the month, not a specific day.
Commercial Observer, also reporting on 11/02/2026, said the lease covers 11,578 square feet on the fifth floor. The firm is moving from 579 Fifth Avenue, a building owned by Stawski Partners. The Paramount Building is owned by Levin Management Corporation and Rosemark Management. Commercial Observer's headline rounded the size to 12,000 square feet.
CBRE handled both sides of the deal. One CBRE team, led by Ryan Alexander, represented the landlord. A separate CBRE team of Anthony Manginelli and Joe Fabrizi represented Hubb NYC. CBRE did not disclose the rent or the length of the lease. It said average office asking rent in Midtown was $85.53 per square foot in the third quarter.
Other tenants in the building include the pickleball club CityPickle, which signed a 37,000-square-foot lease in 2025, and the Martha Graham Dance Company, which took 30,000 square feet for a new headquarters in 2025, according to Commercial Observer.
Key facts
- Company
- Hubb NYC, a residential and retail property owner
- New address
- Paramount Building, 1501 Broadway, Midtown, fifth floor
- Size
- 11,578 square feet
- Current address
- 579 Fifth Avenue (owned by Stawski Partners)
- Building owners
- Levin Management Corporation and Rosemark Management
- Brokers
- CBRE represented both the landlord and Hubb NYC
- Move timing
- By 04/2027, per Crain's New York
- Midtown asking rent
- $85.53 per square foot average in the third quarter, per CBRE
What it means
Tenants and voucher holders
This is an office move for the company. The material does not say anything changes for tenants in buildings Hubb NYC owns. If you rent from Hubb NYC and send anything to its office in person, watch for a new address notice before the move.
Landlords
This is a commercial office lease and does not change any residential rules. The CBRE figure of $85.53 per square foot is Midtown office asking rent, not a measure of apartment rents.
The highlights
- The firm making the move is HUBB NYC.
- The relocation is set to be finished by 04/2027.
Why it matters Landlords
A small Midtown office lease with no direct effect on residential landlords, caseworkers or voucher holders.
Not known yet
- The rent Hubb NYC will pay and the length of the lease
- Which residential or retail buildings Hubb NYC owns
- The exact move date within 04/2027
- Whether any tenant contact details, such as where to drop off rent or paperwork, will change
Background
In New York City, office and retail leases are commercial leases. They are negotiated privately between the business and the building owner and are not covered by rent stabilization or the residential protections enforced by HPD or HCR. Brokers often report asking rents rather than the rent actually agreed, and deal terms such as rent and lease length are frequently kept confidential.
Buildings in this story
- 579 Fifth Avenue · building facts and open city records
Also drawn from: Retail, Residential Landlord Hubb NYC Signs 12K-SF Deal at 1501 Broadway (Commercial Observer)
Summary written by Bulwark from Crain's New York’s reporting. The original story is at crainsnewyork.com. This is general information, not legal advice.
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