Brod, Tergesen and Valentino of ABS Partners arranges 7,900 s/f lease to Park Avenue Liquor Shop

Full-service commercial real estate firm ABS Partners Real Estate, LLC has secured a 15-year, 7,900 s/f lease at 270 Madison Ave. for Park Avenue Liquor Shop, an 80-year-old NYC business. The internationally-known wine and spirits retailer plans to relocate to 270 Madison Ave. by early 2015 and will occupy 3,150 s/f on the ground floor and 4,750 s/f on the lower level. John Brod, Mark Tergesen and Dean Valentino of ABS represented the landlord, 270 Madison Avenue Associates, LLC, while Gregg Gropper and Paul Davidson of Newmark Grubb Knight Frank represented the tenant. "Park Avenue Liquor Shop is the leading purveyor and connoisseur of some of the rarest wines, scotches and whiskies available in the world and cannot be compared to others in its class. Bringing Park Avenue Liquor Shop to a new and nearly 8,000 s/f space at 270 Madison Ave. will enhance the brand's presence in the Grand Central area of Midtown, while adding an iconic destination to the corner of 39th St.," said John Brod, partner at ABS. "The retail landscape in the immediate area is transforming from fast food and discount retailers to high-end brands and eateries, which Park Avenue Liquor Shop's relocation certainly demonstrates. If you look around to our building's neighbors, you will see others are repositioning their retail in anticipation of capturing better tenants as well." "Expanding into 270 Madison Ave. is a milestone for the Park Avenue Liquor Shop; one that takes my father and grandfather's passion for serving people to the next level. Our existing store at 292 Madison Ave. has an amazing array of customers from neighborhood walk-ins to visitors from different countries. We've known many of them for so long, they're like part of the family," said Eric Goldstein, co-owner of Park Avenue Liquor Shop. "The customers represent one of the main reasons we're so excited to move to 270 Madison Ave. With almost double the space, we plan to welcome more people plus expand our selection of fine wines and difficult-to-obtain spirits. Our new storefront will be the paradise our wine and malt-obsessed customers deserve. We can't wait to share it with them." Park Avenue Liquor Shop was established in 1934 and has been owned and operated by three generations of the Goldstein family. The shop is one of the country's premier wine and spirits retailers and carries an extensive inventory of fine wine and liquor from around the world. The new space at 270 Madison Avenue will be the fourth location the business has occupied since opening eight decades ago. Built in 1923, 270 Madison Ave. is a 19-story high-rise, located on the corner of 39th St. in the Murray Hill neighborhood. The office and retail building is managed by ABS, which is currently upgrading and leasing the property. 270 Madison Ave. is situated near Grand Central Terminal and Port Authority, which are both within a five or 10 minute walking distance.