25,000 Square Feet, 32 Spaces in Center of New York’s Premier Business District
Grand Central Madison Third Busiest Commuter Rail Hub in the Country
View Photos of Event
View Video of Panel Discussion
The Metropolitan Transportation Authority (MTA) today released a Request for Proposals (RFP) seeking a developer to bring retail and dining to the Long Island Rail Road (LIRR) Grand Central Madison. With 32 retail units available across 25,000 square feet of space, the master tenant would curate and manage a diverse and lively collection of retailers. The number of LIRR passengers traveling through Grand Central Madison has continued on a positive growth trajectory since GCM’s 2023 opening, currently running as high as 66,000 on the busiest weekdays (Tuesday-Wednesday-Thursday).
“This is an amazing opportunity for the right operator: 25,000 square feet of retail in a controlled environment in the very heart of the biggest business district in the country,” said MTA Chair and CEO Janno Lieber. “Part of the success of Grand Central Madison is the added convenience for 66,000 travelers headed to East Midtown. And we want to increase that convenience – and the excitement – with exciting and innovative shops, restaurants, and brands like we have upstairs.”
The announcement was made as a panel of experts hosted by the MTA in Grand Central Madison discussed the current retail market and highlighted the history between retail and the transit environment, and its impactful role in the economy and the public realm. Moderated by Hiten Samtani, Founder of Ten31 Media, panelists were MTA Chair and CEO Janno Lieber, President and CEO of Grand Central Partnership Alfred Cerullo, Vice Chairman of CBRE Retail Andrew Goldberg, and SVP of Development for BXP Rich Monopoli. Speakers discussed the adoption of the 2017 East Midtown Rezoning plan which marked a significant milestone in cementing the area’s position as a premier business district, encouraging new, state-of-the-art office construction, and street-level infrastructure, open space, and local landmarks.
“Nearly thirty years ago today, the MTA and Metro-North Railroad had a vision to transform landmark Grand Central Terminal from a transit hub for hundreds of thousands of daily commuters into a retail and dining destination for millions of New Yorkers and visitors to access and enjoy. And that mission was accomplished once the Terminal’s renovation was completed, and it continues today,” said Grand Central Partnership President and CEO Fred Cerullo. “And now with the spectacularly successful launch of Grand Central Madison, the MTA and the Long Island Rail Road are looking to replicate this winning blueprint by soliciting proposals to activate and manage the retail space in Midtown’s newest destination.”
“As the neighborhood continues to evolve into a 24/7 district for office workers, shoppers, diners, residents and visitors, a diverse retail mix will add to the area’s growing popularity. We've seen the importance of creating a highly amenitized community and are excited to see plans progress in the area,” said Rich Monopoli, Senior Vice President of Development at BXP. “343 Madison offers a compelling opportunity given its prime location just steps from Grand Central Station, an area that continues to attract substantial capital investment and is a vibrant district for both businesses and visitors.”
“Grand Central has always been the center of the hub,” said Vice Chairman of CBRE Retail Andrew Goldberg. “We are looking for local businesses, and if you go around and walk through what Grand Central currently is, you’ll see that it is a mix. And we love local businesses that can do something New York centric.”
With the resurgence of commuters passing through the 700,000 square foot terminal, there is a growing demand for mixed-use retail and dining establishments. Last month, Tracks Raw Bar & Grill became the first restaurant to sign a lease to operate in Grand Central Madison and is expected to open this year. A survey conducted by the MTA last summer revealed a majority of commuters are traveling five times a week, 71% of users who previously traveled through Penn Station frequented its retail, and almost half of commuters, 47%, responded they would consider skipping a train for retail.
When it opened in January 2023, Grand Central Madison became the first terminal to connect the LIRR, Metro-North Railroad, and subway (,,, and lines) all under one roof, with access to ten bus routes just a few steps outside. Upon opening, Grand Central Madison quickly surpassed major iconic facilities like Boston’s South Station and Chicago Union Station to become the third-busiest commuter railroad hub in the country.
For more information on the RFP and how to submit a proposal, please visit https://enterprise.nymta.info/MTA_Real_Estate_RFP/