First retail tenant signs at 485 Fifth

Real Estate Weekly, June 28, 2006

PBS Realty Advisors, LLC announced that Starbucks has signed a lease agreement for 1,800 s/f of space at 485 Fifth Avenue, a Belfonti Capital Partners property.

The lease represents the first retail tenant on the building's roster since Belfonti Capital Partners purchased 485 Fifth Avenue to redevelop into one of the first luxury properties in the heart of Midtown.

With an all new glass facade and 17-foot ceilings, the building currently has 10,628 s/f of multi-level available retail space. Located across from Bryant Park and the New York Public Library, neighboring retailers include Sean John and Coach.

PBS Realty principals John Brod and Laura Pomerantz represented Belfonti in the transaction, and continue to market the remaining available retail space. David Firestein of Northwest Atlantic represented Starbucks.

"This is an important emerging area in the city, as better retailers are moving south on Fifth Avenue," said Brod. "We are pleased to be working with Belfonti on this project and look forward to helping them build a roster of quality retail tenants for this exceptional property."