Positioning Retail Real Estate for a New Generation

July 23, 2018

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Levin Management Brings Macchiato Espresso Bar to Paramount Building

Coffee Shop Inks Third-Floor Lobby Lease at Iconic Manhattan Office Tower

NEW YORK, N.Y., July 23, 2018 – Commercial real estate services firm Levin Management Corporation (LMC) has negotiated a lease with Macchiato Espresso Bar at 1501 Broadway in New York City’s landmark Paramount Building. The approximately 1,800-square-foot coffee shop/wine bar commitment comes on the heels of a multi-million-dollar renovation at the iconic, 33-story Times Square office property.

A growing New York City brand, Macchiato Espresso Bar will soon open its fourth location – featuring lounge-style space for meeting and gathering – in the Paramount Building’s newly redesigned third-floor lobby, according to LMC Leasing Representative E.J. Moawad, who arranged the long-term lease. LMC also oversaw the comprehensive capital improvement project as owner’s construction representative.

“Today’s landlords increasingly are thinking outside the box when it comes to enhancing tenant quality of life,” said Moawad. “Macchiato Espresso Bar adds to the desirability of the Paramount Building and will be a fantastic on-site amenity. This stylish eatery is a terrific complement to the fresh, modern work environment that has been created here.”

Macchiato Espresso Bar was founded to bring the essence of a true Espresso Bar to New York City. Utilizing the freshest ingredients, the chain is known for its ambiance, quality and customer service. Along with hot and cold coffee drinks, wine and beer, menu items include a selection of baked goods, breakfast offerings and made-to-order sandwiches and salads.

Situated in the heart of the Theater District and Times Square, the Paramount Building is located on Broadway between 43rd and 44th streets. The recent renovation program included the relocation of the building’s main entrance from Broadway to 43rd Street and introduced a fully redesigned lobby with higher ceilings, striking escalators and Art Deco finishes in keeping with the building’s original architectural charm. The project also included replacing the Paramount Building’s 1,500 windows, new elevator cabs, building system updates, and the full renovation of common corridors and bathrooms.

For more than 65 years, LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The firm today maintains a diversified, retail-focused portfolio of approximately 100 properties totaling 14 million square feet in the Northeast and Mid-Atlantic states, offering leasing, property management, financial management and reporting, construction and development, lease administration, marketing services, and acquisition and disposition consulting services. LMC’s capabilities continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.

Read 474 times Last modified on Tuesday, 24 July 2018 14:37