Spinoso tapped to strengthen Grand Central Station’s retail curation
The Spinoso Real Estate Group, which has been on a quick pace of increasing its management portfolio, has now landed control of the retail space in New York City’s Grand Central Station.
The city’s Metropolitan Transportation Authority (MTA) has contracted Spinoso REG to provide retail property management, lease administration, property accounting, tenant coordination, construction management, specialty leasing, and public relations and promotional activities for both Grand Central Terminal and Grand Central Madison.
“Spinoso Real Estate Group is thrilled to take on the assignment of managing these iconic NYC assets, stated Carmen Spinoso, CEO and founder of Spinoso REG. "Our team truly loves the work we do. We are excited to bring a fresh perspective and creative approaches to drive maximum value of these iconic properties for the MTA, the NYC community, and its visitors.”
The new Grand Central Madison station, located below Grand Central Terminal, was created to divert a large portion of Long Island Rail Road traffic from Penn Station on the West Side of Manhattan to Grand Central Station on its East Side
Penn Station is the nation’s busiest railway station, while Grand Central terminal is the second-busiest.
“Enclosed retail centers are highly complex,” Spinoso said. “We plan to expand and strengthen the current retail environment and fill it with community-centered events and world-class shopping, dining, and entertainment experiences for all.”
Syracuse-based Spinoso REG is one of America’s most prodigious mall redevelopers and property managers. Through its 30-plus years in business, it claims to have managed, leased, and/or repositioned 98 large-scale retail-based properties encompassing more than 84 million sq. ft., and it reports having onboarded 9 new third-party assignments onto its platform since the beginning of 2024.
In 2023, the company reported having executed more than 2,500 leases adding up to 7.7 million sq. ft. of space — the equivalent of nine super-regional malls.
