New York & Tri-State + Midtown New York + Hospitality | November 7, 2023

Starbucks Renews Midtown Lease at 515 Madison

Starbucks Corporation has renewed its 2,600-square-foot lease for another 10 years at 515 Madison Ave in Midtown.

The building, known as the DuMont Building, is a 42-story, 370,000-square-foot class A building built in 1932 and designed by John H. Carpenter. 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.

Martin McGrath of GFP Real Estate represented the landlord, GFP Real Estate, while David Firestein of SCG Retail/The Shopping Center Group represented Starbucks. “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.

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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