Starbucks Coffee has re-signed a 3,425-square-foot lease on Columbus Avenue and West 86th Street, Commercial Observer has learned.
The coffee chain took a 10-year renewal with a one- to five-year option for its 2,425 square feet on the ground floor and 1,000 square feet in the basement at 540 Columbus Avenue.
David Firestein of SCG Retail negotiated the deal for Starbucks directly with the landlord, T&J Realty Company.
Starbucks, which has 260 locations in New York City of which 205 are in Manhattan, opened at the location in 1997. The coffee behemoth is planning to bring two new types of stores to Manhattan, a grab-and-go concept as well as a slow bar, as Commercial Observer previously reported, but this location will remain a traditional Starbucks, Mr. Firestein said.
Mr. Firestein declined to provide the asking rent.