Lee & Associates NYC arranges Fred Astaire Dance Studios’ New Park Slope location at 508 Fifth Ave.

Brooklyn, NY Lee & Associates NYC has arranged a new 10-year lease for Fred Astaire Dance Studios at 508 Fifth Ave. in Park Slope. The internationally recognized dance franchise has leased 2,500 s/f of ground-floor retail space and is expected to open its doors in September 2026.

Senior managing director Claude Kolb of Lee & Associates NYC represented Fred Astaire Dance Studios. Peter Yoon of RIPCO Real Estate represented the landlord, Zita Properties. The asking rent was $72 per s/f. The space was formerly occupied by Bobby Sports Wear.

 The Park Slope lease represents the sixth Fred Astaire Dance Studios location that Kolb has completed on behalf of the current franchisee, which has been actively expanding throughout New York and its suburbs. Kolb continues to work closely with ownership as the company expands throughout New York and its surrounding suburbs. He is assisting with an additional location in White Plains, which would mark the seventh Fred Astaire Dance Studios location completed through the relationship.

“Fred Astaire Dance Studios has been very deliberate in its growth strategy, focusing on communities where demographics, lifestyle and disposable income align with its business model,” said Kolb. “Park Slope checked all of the boxes. The neighborhood has exactly the type of resident base that values enrichment, wellness and social experiences, making it an ideal fit for ballroom dancing. It’s been rewarding to help this ownership group identify and secure locations that support their continued expansion throughout New York and the suburbs.”

Founded more than 80 years ago, Fred Astaire Dance Studios operates more than 140 locations throughout the U.S. and is one of the world’s most recognized dance instruction brands. The new Brooklyn studio will bring its signature ballroom, Latin and social dance programming to one of the borough’s most vibrant residential neighborhoods.

Park Slope’s strong household incomes, family-oriented atmosphere and active community have made it one of Brooklyn’s most sought-after retail corridors. The arrival of Fred Astaire Dance Studios further diversifies the neighborhood’s mix of experiential and service-oriented businesses.