ABS Partners Real Estate secured a 14-year, 3,050 s/f lease at 270 Madison Avenue for Drybar, the popular national chain of ‘blow dry bar’ concept salons.
Slated to open in summer 2015, the new Drybar location faces 39th Street and contains 2,050 s/f of ground-floor space and 1,000 s/f of mezzanine space.
The deal brings 270 Madison Avenue’s 20,100 s/f retail portfolio to full occupancy.
John Brod, Mark Tergesen and Dean Valentino of ABS Partners represented the landlords in the transaction, 270 Madison Avenue Associates, LLC and Independence 270 Madison, LLC.
Navin Bhutani and Steven Greenberg of The Greenberg Group represented the tenant. Asking rent for the space was $125 psf.
“With 60 feet of frontage along 39th Street, the retail space at 270 Madison Avenue met and exceeded Drybar’s expectations. The blow-dry-only salon was looking for a prominent storefront in Midtown that was minutes from Grand Central Terminal and easily accessible by busy New Yorkers and travelers alike,” said Tergesen, a senior managing director at ABS.
“We received offers from various restaurant concepts for this space, but Drybar was ultimately selected to complement the high-end liquor shop and gourmet grab-and-go eatery that are also located at the base of 270 Madison Avenue.ˮ
Sought-after lifestyle brands Muji and Charming Charlie, and international restaurant Zuma have opened in the area recently.
