New York MTA seeks developer for Grand Central Madison retail business
NEW YORK — The Metropolitan Transportation Authority is seeking a developer to serve as master tenant to fill the 25,000 square feet of retail and dining space at Grand Central Madison, the Long Island Railroad Terminal in Manhattan that opened in 2023. “This is an amazing opportunity for the right operator: 25,000 square feet of retail in a controlled environment in The Metropolitan Transportation Authority (MTA) is seeking a developer to fill the 25,000 square feet of retail and dining space at Grand Central Madison, the Long Island Railroad Terminal in Manhattan. The MTA CEO, Janno Lieber, described this as an "amazing opportunity" for a developer in a controlled environment in the heart of the largest business district in the country. The announcement was made during a panel discussion at the MTA about the current retail market and the relationship between retail and transit. A total of 32 retail spaces are available on the station concourse.
Published : a month ago by in Business
NEW YORK — The Metropolitan Transportation Authority is seeking a developer to serve as master tenant to fill the 25,000 square feet of retail and dining space at Grand Central Madison, the Long Island Railroad Terminal in Manhattan that opened in 2023.
“This is an amazing opportunity for the right operator: 25,000 square feet of retail in a controlled environment in the very heart of the biggest business district in the country,” MTA CEO Janno Lieber said in a press release announcing the Request for Proposals for a developer. The announcement came as the MTA hosted panel discussion Tuesday at Grand Central Madison to discuss the current retail market and the relationship between retail and transit.
A total of 32 retail spaces are available on the station concourse — built in Grand Central Terminal’s former Madison yard, which gave the station its name. Later opening of the retail space was part of the original schedule when the station opened last year. The first restaurant to sign a lease to operate at the facility, Tracks Raw Bar & Grill, did so last month and is expected to open this year. The MTA says up to 66,000 people are now traveling through the station on Tuesdays, Wednesdays, and Thursdays, its busiest days.
More information on the RFP is available here.