What if buildings could talk? 1740 Broadway would have stories to tell about Midtown Manhattan. This 26-story building stands tall between 55th and 56th Streets. Let’s explore its history.
1740 Broadway was built in 1950. It was originally the home of Mutual of New York or MONY. Shreve, Lamb and Harmon Associates designed it. These were the same architects who designed the Empire State Building. EQ Office now owns the building. It shares a block with the Park Central Hotel.
Mutual of New York occupied 1740 Broadway as its headquarters. Later, AXA acquired Mutual of New York. The company then left the building. 1740 Broadway underwent a complete renovation in 2007. Blackstone acquired the building in 2014. In 2024, Yellowstone Real Estate considered converting it to residential use.
A famous sign once topped 1740 Broadway. It advertised Mutual of New York. The MONY letters were red neon lights. They inspired Tommy James and the Shondells’ hit song “Mony Mony” in 1968. The sign also appeared in the movie “Midnight Cowboy.” Later, the sign became the company’s logo. It was an acronym with a dollar sign inside the “O.” Vornado removed the MONY sign in 2007. It was replaced with “1740”. These numerals reflect the street address. The numerals are over eight feet tall. They light up at night with light-emitting diodes.
The Weather Star sits on the roof of 1740 Broadway. Artkraft Strauss built this tower of lights. The star indicated the next day’s weather. Green meant fair weather. Orange meant cloudy skies. Flashing orange meant rain. Flashing white meant snow. Lights moving up meant rising temperatures. Lights moving down meant falling temperatures. No movement meant no change. The Weather Star still works. However it is no longer used for forecasting. A digital board at the tower’s base always shows the time and temperature.
1740 Broadway has about 600,000 square feet of floor space. Fourteen elevators service the 26 floors. In early 2022, the owner essentially handed the keys over to the servicer. The servicer explored foreclosure or loan modifications. In 2021, L Brands left 1740 Broadway. They had occupied about 77% of the leased space. Davis & Gilbert law firm also left in 2019.
The building was purchased in 2014 for $605 million. The purchaser financed the deal with a $308 million mortgage. It was then packaged into a commercial mortgage-backed securities deal. The building was sold in May 2024 for roughly $186 million.
Tenants now enjoy a modernized lobby and private club. INC Architecture & Design designed these spaces. The lobby feels more like a hotel arrival. A 15,000-square-foot private club sits on the second floor. It includes lounge areas and a wellness center. It also offers food service and conference rooms.
The story of 1740 Broadway continues. Its transformation reflects the changing face of Midtown Manhattan. The new owner plans to convert the property from office to residential. This will bring new life to the location.