commenced a $2 million rehabilitation of the building; to reduce vacancies, Newmark president Jeffrey Gural rented space to any tenants who could reliably pay. The lobby was renovated by architects Warner Burns Toan & Lunde and interior designers Valerian Rybar and Jean-Francois Daigre. Mechanical systems were also updated throughout the building. A site-specific artwork, an angular metal sculpture by Owen Morrel entitled Boomerang, was mounted up the southeast corner in 1981. By the end of that year, 330 West 42nd Street was fully rented again, due in part to the redevelopment of the surrounding stretch of 42nd Street. Gural had become more selective with tenants, only accepting large leases and telling The New York Times in 1981 that he could bring the building to full occupancy "three times over in ten minutes". These tenants included a trading floor of Paine Webber, as well as the New York City Department of Cultural Affairs. The base of the building became a popular performance venue for bands. 330 West 42nd Street was declared a National Historic Landmark in 1989. GHI moved out of 330 West 42nd Street in 1994, taking space at its own building at 441 Ninth Avenue. The same year Deco Towers Associates, a foreign investment group, acquired 330 West 42nd Street as its sole property. The sale had become complicated by the fact that the Federal Deposit Insurance Corporation had taken over the building's mortgage holder, the American Savings Bank, which had gone bankrupt. A long-term restoration of the building began in 1998 and continued over the next two decades. Shortly after the project began. Deco Towers dismantled Boomerang, having found severe deterioration in that sculpture during inspections over the previous five years. The company had offered to give the work to Morrel or restore it if funding was provided. The New York City Department of Cultural Affairs (DCLA) moved to a space at 330 West 42nd Street in 1998, having been forced to relocate from 2 Columbus Circle. The DCLA relocated to the city-owned Surrogate's Courthouse in 2006. 21st century 330 West 42nd Street received some facade renovations during the mid-2010s. The restoration of the facade won an award in 2019 from the New York Landmarks Conservancy. At the time, the Service Employees International Union (SEIU) was a major tenant, although its lease was scheduled to expire in October 2020. Deco Towers announced in 2018 that it planned to