E
ight years after 701 Seventh Ave. (20 Times Square) opened, its glass‑wrapped corner at West 47th Street remained empty, even though it sits amid hotels, theaters, restaurants and bright lights. The unusual shape and the fact that the space was often hidden behind a dozen hot‑dog stands made it unattractive to retailers and food merchants.

    Cushman & Wakefield, hired to lease the building’s 49,000 sq ft of retail space—including the under‑3,000 sq ft ground‑floor corner—has turned the vacancy into a Warner Bros. recreation of Central Perk from the sitcom “Friends.” The pop‑up will offer an immersive café and retail experience, showcasing the corner’s potential to future tenants. Steven Soutendijk of Cushman & Wakefield called it a “one‑of‑a‑kind opportunity for global brands in the entertainment and retail capital of the world.”

    Property managers GreenBarn Investment Group and Newbond Holdings hope the “Friends” attraction will draw attention to the space and encourage long‑term leasing of the entire 49,000 sq ft property. The goal is to secure one or more permanent tenants and demonstrate the site’s viability.

    The building already houses a large Hershey’s store, but most of its second, third, and fourth‑floor retail and basement areas have stayed vacant since the NFL Experience closed in 2018. The loss of rental income weakened former owner Maefield’s balance sheet, ultimately leading to foreclosure.

    By reimagining the corner as a pop‑up café, the developers aim to prove the location’s value and attract lasting tenants, turning a long‑standing vacancy into a vibrant retail destination.