News:
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.
Tags:
Brokerage
MORE FROM Brokerage
Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million
Manhattan, NY Marcus & Millichap negotiated the sale of 207 E. Fourth St., a 17-unit mixed-use multi-family property the East Village. The asset sold for $8.8 million. “This transaction underscores
.jpg)
Columns and Thought Leadership
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian
Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski
The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
.gif)