Olshan Client LH Charney Associates to Include LED Sign at New Times Square Property
The Wall Street Journal and The Real Deal both posted stories about the digital-sign business in Times Square. In the past, landlords have made their billboard income working with companies that manage the displays, but recently, the retailers below the signs have paid a lot more than advertising companies to use those signs not only as marketing tools, but to subsidize their rent with the money they make selling advertising time on their displays. Olshan client LH Charney Associates, which is the managing agent at 1441 Broadway just South of Times Square, is planning a major improvement involving the building of a new 12,000 square foot LED sign that will be available next year along with about 56,000 square feet of retail space. Olshan Partner Warren Gleicher represents Charney in various legal matters, including recent litigation involving the sign and an encroachment by a neighbor. The Olshan litigation team on the encroachment case included Partner Thomas Fleming and Associate Mason Barney.