Friday, June 2, 2017
The Shake Shack effect? McDonald's on 3rd Avenue at St. Mark's Place has closed after 20 years
[Photos by EVG reader MP]
Some passersby were shocked yesterday to see that the McDonald's on Third Avenue at St. Mark's Place had shut down. A sign on the door noted, "Sadly, this location is closing."
In June 2015, The Real Deal reported that real-estate investor Arthur Shapolsky was in contract to buy the corner assemblage — 23 Third Ave., 27 Third Ave. and 3 St. Mark's Place — for roughly $50 million. The site could reportedly accommodate a 41,500-square-foot commercial building or a residential one of roughly half the size.
However, Joseph Gabay, whose family owns the properties, told me last night that they have not been sold despite the continued rumors.
"McDonald’s has chosen not to renew their lease after a 20-year run," he said via email. "With the addition of 51 Astor, the dynamic of the square has changed."
As noted earlier this week, Shake Shack is expected to open later this year directly across the street in a corner space at 51 Astor Place.
"With a contemporary brand moving in like Shake Shack and McDonald's leaving the change is evident," Gabay said.
Previously on EV Grieve:
Report: Northeast corner of St. Mark's Place and 3rd Ave. fetching $50 million for development site
And what happened to the Golden Arches?