McDonald’s has officially signed a 99-year lease for a two-story in Madison Square Park, finally returning after a messy exit back in 2005.
Shrem purchased 26 East 23rd Street in 1972, and then inked a 25-year lease with Wendy’s in 1990 that had three five-year renewal options extending it to 2030, city records show.
To make way for McDonald’s, the Wendy’s lease there was terminated in August 2012, city records show. McDonald’s is now in possession of the space, one source said.
“We are thrilled to be opening a restaurant in this location and returning to serve the Flatiron District community,” a McDonald’s spokesperson said.
The company declined to comment on the legal proceedings, other than to say, “While this matter has been resolved, the terms of the agreement are confidential.”
For full details on the deal, click here.