Central Perk Pop-Up to Revitalize Times Square Retail Space
Manhattan’s vibrant Times Square will soon welcome a pop-up re-creation of the iconic Central Perk coffee shop from the beloved television series, “Friends.” The establishment will occupy the glass-wrapped corner at 701 Seventh Ave—also known as 20 Times Square—which has remained vacant since the building opened eight years ago. The location, situated at the intersection of West 47th Street, has long puzzled visitors due to its prime position amid hotels, theaters, and bustling restaurants.
The Central Perk pop-up, organized by Warner Brothers, aims to provide a “unique immersive retail and café experience,” as stated by Cushman & Wakefield, the firm responsible for marketing the property’s 49,000 square feet of retail space. This initiative comes in response to a challenging retail environment, as previous attempts to lease the space have faltered due to its unusual configuration and visibility issues, often obscured by adjacent food vendors.
Strategic Move to Attract Long-Term Tenants
The property’s current asset and property managers, GreenBarn Investment Group and Newbond Holdings, are optimistic that the “Friends” themed venue will stimulate interest from potential long-term tenants. According to Steven Soutendijk of Cushman & Wakefield, the pop-up represents a “one-of-a-kind opportunity for global brands looking to make a statement in the entertainment and retail capital of the world.” He expressed hope to “secure one or more long-term tenants for the entirety of the 49,000 square feet of space” at this high-traffic location.
Despite hosting a large Hershey’s store, the retail floors above have largely remained empty since the NFL Experience closed in 2018. This lack of occupancy has resulted in significant financial losses for the former owner, Maefield Development, ultimately leading to foreclosure on the property. The re-introduction of a beloved pop culture fixture like Central Perk may not only draw in tourists but also rekindle interest among retailers seeking a foothold in one of the world’s most iconic commercial districts.
As the Central Perk pop-up prepares to open its doors, it symbolizes a broader trend in retail that seeks to combine entertainment with shopping experiences. By leveraging nostalgia and brand recognition, this endeavor aims to breathe new life into Times Square’s retail landscape, which has faced numerous challenges in recent years.
With the pop-up’s anticipated launch, the future of 701 Seventh Ave may reflect a renewed optimism for retail in New York City, demonstrating the potential for innovative concepts to transform vacant spaces into vibrant community hubs.
