Newly rehabilitated retail space is available at 59 St-Columbus Circle.

In a move to more effectively manage its real estate portfolio, the MTA 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.

This is the first time that the MTA is seeking to enter into an arrangement with a private sector firm that will be responsible for subletting individual retail spaces and for maintaining adjoining public areas within the transit system.