Kaplan, Pruger, and Abramowitz of Newmark sign Starbucks to 2,061 s/f at 2360 Broadway

Manhattan, NY Newmark secured a new 2,061 s/f for Starbucks at 2360 Broadway, situated at the Northwest corner of West 86^th St. and Broadway in the Upper West Side submarket. The tenant signed a long-term lease to partially occupy a portion of the ground-floor retail space. Newmark executive managing directors Ross Kaplan and Jason Pruger, as well as managing director Harrison Abramowitz represented the landlord, Extell Development, on the transaction along with vice president, commercial leasing Aaron Cukier, who works in-house at Extell.

“With the welcoming of Starbucks to 2360 Broadway, ownership is looking forward to building a long-term relationship with the tenant,” said Kaplan. “At the epicenter of the neighborhood’s highly trafficked intersection, the outpost presents a tremendous opportunity to reposition the location for the brand.”

2360 Broadway is in one of the most sought-after areas in the Upper West Side. The location benefits from the neighborhood’s bustling amenity scene and substantial surrounding dense residential population. In addition to offering 46 ft. of frontage on Broadway and 99 ft. of frontage on West 86^th St., residents enjoy quick access to the MTA 1 subway line at the entrance/exit on 86^th St., the B and C train lines, and  are within walking distance to outdoor destinations like Central and Riverside Park.

According to Newmark Research, at the close of 3Q of 2022, Manhattan’s Upper West Side submarket continued to demonstrate strong fundamentals–closing the quarter with an 8.1% availability rate, the lowest among the submarkets and marking a decline of 190 basis points year-over-year and 50 basis points from its pre-pandemic standing.

SCG Retail’s vice president Jenna Heidenberg and managing partner David Firestein represented Starbucks, alongside store development manager John Epifanio, works in-house for Starbucks and oversees new store development in Manhattan.