New York's Historic Music Home, The Brill Building, Is Sold
June 14, 2013 at 4:00 AM (PT)
NEW YORK’s famed center of songwriting and entertainment is under new ownership. The BRILL BUILDING, a landmark historic building located at 1619 Broadway at the corner of West 49th Street, has been purchased by real estate investor ERIC HADAR of ALLIED PARTNERS, along with the private equity firm BRICKMAN, in a deal valued at close to $250 million.
"We have a vision to capitalize on the legendary reputation of the property by transforming it into a modern day creative center for fashion, arts, media and entertainment in NEW YORK," said Hadar. "We are in active negotiations with a number of parties and expect to announce several exciting new retail and office tenants soon. We anticipate a grand reopening of the space in late 2014."
The building will also be home to the SONGWRITERS HALL OF FAME. With nearly 400 inductees, the SONGWRITERS HALL OF FAME is an arm of the NATIONAL ACADEMY OF POPULAR MUSIC. Since its founding in 1969, the SONGWRITERS HALL OF FAME has inducted numerous industry legends, including GEORGE GERSHWIN, BOB DYLAN, BRUCE SPRINGSTEEN and STEVIE WONDER among others.
"All of us at the SONGWRITERS HALL OF FAME are tremendously excited by ERIC HADAR's deep understanding of the cultural legacy of this NEW YORK CITY landmark and look forward to being a part of the renaissance of the new BRILL BUILDING, once home to some of the greatest songwriters of all time," said songwriter and chairman of the SONGWRITERS HALL OF FAME, JIMMY WEBB. "We’re extremely grateful for this opportunity to enhance the profile of the SONGWRITERS HALL OF FAME and to successfully pursue our mutual interests with Mr. HADAR and his partners."
The art-deco era BRILL BUILDING was designed by VICTOR BARK JR. and built in 1931. The legendary Broadway address has been home to a multitude of songwriters and artists throughout the years, including NEIL DIAMOND and PAUL SIMON, as well as a diverse cast of creative artists from the world of entertainment, such as WOODY ALLEN, LIZA MINNELLI, MARTIN SCORSESE and LORNE MICHAELS.