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.