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One of the city’s largest dance studios, Broadway Dance Center, has re-upped its longtime space at 321 West 44th Street near Times Square.
The school inked a 16-year renewal for its 30,000 square feet across the ground, second and third floors of the building between Eighth and Ninth avenues, according to Colliers and Cushman & Wakefield. The facility includes seven studios and a dedicated entrance on West 45th Street. A spokesperson representing the brokers on the deal did not provide the asking rent for the space. Average asking rent in Midtown hovered around $78 a square foot, per Colliers’ April report.
The dance training school has occupied the space since 2006 and offers over 350 classes weekly in jazz, tap, ballet, contemporary, hip hop and theater for dancers of all levels.
“We are ecstatic to renew our lease and continue our mission as a global destination for dance training in New York City,” Diane King, executive director of Broadway Dance Center, said in a statement. “The pandemic was a challenging period for us, but our resilient dance community has ensured our future for many years to come.”
Colliers’ Marcus Rayner, who represented Broadway Dance, said in a statement that the lease allowed “this renowned studio to continue teaching the next generation of dancers at this fantastic property in the heart of the Theater District.”
Cushman & Wakefield’s Anthony LoPresti, Ethan Silverstein, Pierce Hance and David Mosler handled the transaction for the landlord, Related Fund Management.
Rayner said that he was “thrilled to have helped [Broadway Dance Center] secure their long-term occupancy with a stable landlord and allow Broadway’s dance training center to remain close to its roots.”
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
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