Coney Island’s Stillwell Terminal, which was reconstructed from 2001 to 2005, is about to be fully leased. The last chance to rent the last vacant store in one of the world’s largest above-ground subway terminals is coming up on Friday. Proposals should be submitted to the MTA by 3pm on December 2nd. For a copy of the RFP, contact the MTA Real Estate Department.
The suggested use for the approximately 625 square foot space is retail or food. The suggested annual rent is $45,000 with a 3% – 5% annual increase over the term of the ten-year lease. That works out to be $72 per square foot, but the potential tenant may offer more or less. The tenant is responsible for building the entire interior, installing utilities and other improvements according to strict specifications set by the MTA.
Not permitted: “Video games and arcades are not allowed. Stores selling t-shirts, beach-related accessories or Asian-themed dry goods are not allowed. Any selling of ice cream, donuts, submarine sandwiches, or grocery-type items is not allowed. ATMs or typical newsstand- type items are not allowed. Store is required to be open year-round (not just in summer months).”
Arcade games are apparently banned by the MTA and the restricted items are already sold by current tenants.Stillwell Terminal shops are occupied by Dunkin Donuts/Baskin Robbins, Subway, Bank of America and a newsstand. Lola Star Boutique, Coney Island Beach Shop and Coney Island Gift Shop have the T-shirt and beach gear market covered. Gourmet Food, which sells imported chocolate, cookies and nuts, as well grocery items, opened this month.
The RFP also contains an interesting statistic: The annual average weekday station customer count –paid entry at station only, not exiting– is 12,240. Summer passenger count increases significantly. For Saturdays in June, July and August in 2009, average paid entry was 22,411.
Related posts on ATZ…
November 15, 2011: Coney Island 2012: What’s New on the Boardwalk
October 17, 2011: Popeyes Chicken Returning to Coney Island’s Surf Avenue