Rose Associates, the exclusive retail leasing agent for The Shops at Peter Cooper Village and Stuyvesant Town, has announced that it recently signed a new 10-year lease with Starbucks for a 2,200 s/f space on the southeast corner of First Avenue and 23rd Street in Manhattan.
The lease is for a portion of a larger space that was formerly a Chase Bank branch. This new Starbucks location will be in addition to their store in Stuyvesant Town.
Bruce Spiegel, senior managing director for Rose, and William Bergman, commercial leasing manager for Rose, represented Peter Cooper Village and Stuyvesant Town in the transaction. David Firestein of The Shopping Center Group represented Starbucks.
Rose is currently marketing the inline portion of the property looking for a complementary use providing another service to the neighborhood. The remaining space at 400 East 23rd is comprised of approximately 2,400 s/f of street level retail, 2,100 s/f of mezzanine space, and 3,250 s/f of basement space.
“The East 23rd Street and First Avenue location is the prime corner of Peter Cooper Village. The critical mass of area residents, hospital, and medical offices make it appealing to quality service retailers” said Bruce Spiegel, senior managing director at Rose.
Last month, Starbucks signed a lease with for an 879 s/f shot at W&H Properties’ 250 West 57th Street. The deal is part on the continuing with the repositioning of the building’s retail. Starbucks will replace a pizza shop on the ground floor, where the coffee chain will join T.J. Maxx, AT&T, and Duane Reade.
Founded in 1971 as a single store in Seattle, Starbucks now has nearly 18,000 retail stores in 60 countries.
David Firestein represented Starbucks in the W57th Street lease. Joanne Podell and Ian Lerner of Cushman & Wakefield represented the landlord.