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Brokerage
Posted: November 28, 2023
Firestein of SCG Retail represents Starbucks in 2,600 s/f lease renewal at GFP’s 515 Madison Ave.
Manhattan, NY Starbucks Corp. has signed a 10-year lease renewal for its location at 515 Madison Ave. in the Plaza District.
Martin McGrath of GFP Real Estate represented the landlord, GFP Real Estate, in the transaction; David Firestein of SCG Retail/The Shopping Center Group represented the tenant.
Starbucks first moved into the 2,600 s/f space, located on 53rd St. off Madison Ave., in 2013. Over the past 12 months, 515 Madison has secured several new long-term leases from fashion companies to professional services firms alike, including Zadig & Voltaire, Mark Ingram Atelier, Components by John McCoy, Weiss Wellness, Fagenson & Co., Padell Business Management, Kayser & Redfern, LLP, and QNY Creative, respectively.
“Starbucks has been at 515 Madison for nearly 20 years now, benefitting from the location’s high volume of foot traffic from office workers, residents and tourists alike,” said McGrath.
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