Broadway's Shubert Organization Buys West Side Warehouse for $11.25 Million

Deadline writes that the Shubert Organization, which owns almost half of Broadway's theaters, just purchased a five-story warehouse on Manhattan's West Side for $11.25 million.

According to a brochure touting the property, it "holds tremendous promise as a headquarters, showroom, production and/or distribution facility for a wide array of firms involved in the media, fashion or service industries."

Built in 1929, the former H.B. Day Warehouse is located at 604-606 West 48th Street between 11th Avenue and the West Side Highway.

The building has 24,000 actual square feet on the ground with 1,105 square feet of air rights, which could earn the Shubert Organization $400 or more per square foot paid by eager builders wanting to add floors to skyscrapers in the Theater District.

This news comes just after Shubert's acquisition of off-Broadway's New World Stages complex on West 50th Street.