The MTA is looking for a private real estate company to help it rent out 13 stores that it created as part of a massive renovation of the Columbus Circle subway station. The station gets lots of traffic — 68,000 people a day, only some of whom choose to pee in the corners. The MTA is doing this to raise some revenue so maybe we can go a year or two without having our fares hiked (please!). Sayeth the MTA:
“In a move to more effectively manage its real estate portfolio, the Metropolitan Transportation Authority is accepting proposals from real estate companies seeking to master lease the 13-store retail concourse at the recently renovated 59 St-Columbus Circle subway complex. Firms interested in bidding for the space must submit proposals by September 14th at 3 p.m.
The firm being sought would be responsible for selecting and managing subtenants for 13 stores on the mezzanine level totaling 11,500 square feet, and would bear the associated risks. The firm would also market the space to the public as a retail destination, coordinate and maintain general oversight of deliveries and waste disposal, and maintain circulation areas that are adjacent to the stores.”
The stores can be combined to allow for larger retailers. Check out the video presentation below: