MAGNOLIA BAKERY, IGNAZIO’S PIZZA AND MORE SET TO OPEN IN COLUMBUS CIRCLE SUBWAY MALL

02-market

The new mall set to open next year in the Columbus Circle subway station has already signed tenants for more than half of the 30 spaces, including food shops like Magnolia Bakery, DUMBO pizzeria Ignazio’s Pizza, Joe’s Coffee and Dylan’s Candy Bar, and various accessories stores. Other outlets that have been named as tenants include Bluwire Electronics, Weekday Wines, Specs, and souvenir shop Studio Manhattan, according to Crain’s and the Times.

A real estate company called Oases RE run by Susan Fine will sublease the spaces from the MTA, which will make a guaranteed minimum in rent: “A 30-year deal for the 15,000-square foot space will net the agency at minimum $1.25 million annually through a mix of rents and revenue sharing,” the Times reported.

The subway mall offers “preferential rents of $275 to $425 a square foot, about one-third the going rate above ground.” About 80,000 people per day pass through the subway station. The underground mall will stretch South from the center of the station at Columbus Circle to the subway entrances at 57th and 8th avenue.

The mall is expected to open next summer, and about 40% of the spaces are still available. To inquire about renting one, contact Lindsey Harris at 774-262-6095. We first wrote about this project here.

140909 Storefront

NEWS, OPEN/CLOSED | 10 comments | permalink
    1. webot says:

      First, I think this will be a good thing and smart to focus on quick services in a subway corridor. I don’t know how much hanging out, casual shopping in a subway station people are going to do. Hopefully the plan will improve the experience for all riders and add funds to the MTA.

      That said, this comment is very misleading:”The subway mall offers “preferential rents of $275 to $425 a square foot, about one-third the going rate above ground.”

      Rents in the $900 psf and above are not charged in the neighborhood , EXCEPT perhaps in prime spots in Time Warner Center.

      Second, that is very high rent, period. the stores will have to be tiny and/or due big business to support that.

    2. Lisa says:

      What is the responsibility related to trash?
      And rodent control?
      Will it be the MTA or the above cited “Oases” or individual stores?

      It is likely that new commercial – food and non-food – will generate quite a lot of trash, in the immediate area of the shops as well as subway platforms etc when people discard their coffee cups or pizza boxes…

    3. Frank V says:

      Isn’t trash and rodent control the reason that food service was discontinued back in the eighties – we had Nedicks, through subway stores in Union Sq., Times Sq. 34th Street selling hamburger, hot dogs Ice cream & nuts

    4. AC says:

      MTA is finally capitalizing on the volume of pedestrian traffic that flows in that corridor. Anything to keep the cost of a ‘token’ low! With regards to trash and other nonsense, hopefully the traveling (and eating public) is much smarter than those of the 70’s. Its our earth, our house, and we need to do our part in keeping this place clean. Whether its above or below ground.

      • Lisa says:

        Hopefully that will be true.
        But trash is a concern.
        It seems, since about 2009 or so, that there has been an increase in trash in NYC – overflowing trash in trash cans on corners, in Central Park, more trash on subway tracks. Seemingly more people eating on the subway. Also seemingly more people in general, tourists etc, in NYC, walking around with Starbucks,etc that has to be discarded somewhere.

    5. UWSsurfer says:

      Why not have a similar food court inside the
      empty space last occupied by Food Emporium
      near Lincoln Center?

      The spaces could be small like Urban Spoon
      food tents in Times Square. Although, the prices are way too high at those tents.

      The vendors could get small business loans
      through the SBA, the city or private investors. Instead of buying a food truck, the chefs could have a tiny restaurant on the UWS!

      We are burned out on all of the current take out options.

      The food court should only have one or two anchor big chain restaurants, like Baja Fresh.

      The other booths should be the new incredible food entrepreneurs in the city.

      The Food Network, Bravo, and the producers
      of the cooking contest shows like Top Chef could finance booths.

      Who wouldn’t want to be able to eat food made
      with Top Chef winner Christine Ha’s recipes?

      Food trucks park in mid-town, Chelsea and Tribeca. We don’t get many up on the UWS.

      It is a win-win for everyone. It also helps
      the residents in the restaurant delivery deadzone near Lincoln Center.

    6. Lucien Desar says:

      This is good news for that area. In parts of Canada there are a lot of underground stores since they have terrible weather for 1/2 of the year. Shoppers can spend all day underground without being out in the elements. It will be handy for commuters passing through to other boroughs at night.

    7. CeeCee says:

      I agree with Webot – $275-$475 a sq. ft. is way too high. Can only imagine what a slice of pizza will cost! Right out of the gate that’s the first thing that needs adjusting.