MAC Cosmetics Signs 5,325-SF SoHo Flagship Lease at 579 Broadway, Newmark and Cushman & Wakefield Broker Deal
MAC Cosmetics has signed a 5,325-square-foot retail lease at 579 Broadway in Manhattan's SoHo neighborhood, relocating its global flagship store from 506 Broadway. Newmark arranged the lease on behalf of the landlord, Lord Shivas Properties LLC, while Cushman & Wakefield represented the beauty brand in negotiations.
Deal Details: Ground-Floor Retail and Lower-Level Space on Broadway
The leased premises at 579 Broadway comprise approximately 3,825 square feet on the ground floor and 1,500 square feet of lower-level storage and sales-support space. The space features more than 22 feet of Broadway frontage, grandfathered flagpole signage, and direct visibility along one of Manhattan's most heavily trafficked retail corridors.
British fashion retailer AllSaints is the outgoing tenant and is expected to remain at the location through the end of 2026. MAC Cosmetics is scheduled to take possession in January 2027.
Newmark's Ariel Schuster, Michael Paster, and Logan Ryan represented the landlord. Cushman & Wakefield's Mike O'Neill, Jason Greenstone, and Taylor Reynolds represented MAC Cosmetics.
"This transaction underscores the continued strength of SoHo's retail market, where premier storefronts remain highly sought after by leading global brands," said Paster. "579 Broadway's exceptional visibility, strong pedestrian traffic and unparalleled co-tenancy made it a natural fit for MAC Cosmetics."
About the Property: 579 Broadway in SoHo
579 Broadway is a five-story, approximately 58,000-square-foot mixed-use building situated on the west side of Broadway between Prince Street and East Houston Street. Built circa 1860 and renovated around 2015, the building houses loft-style upper-floor residences alongside ground-floor and lower-level retail space. The building's retail configuration — a 3,825-square-foot ground floor with an adjacent 1,500-square-foot lower level — is equipped with 400-amp, three-phase power and infrastructure suited to national retail tenants.
The property sits within a dense cluster of global retail brands, including Prada, Arc'teryx, H&M, Free People Movement, Pandora, Athleta, The North Face, Wilson, Madewell, and Aritzia. It benefits from seven-day-a-week pedestrian traffic and access to multiple subway lines.
SoHo Broadway Retail Market: Rents Near Decade Highs
MAC Cosmetics is securing its new flagship at a moment of pronounced tightening along the Broadway corridor in SoHo. Broadway in SoHo recorded a 24% increase in median asking rent in the second half of 2025 compared to the first half of the year, with median asking rents reaching approximately $726 per square foot — about 12% below the corridor's 2016 all-time peak. Retail rents near SoHo's Prince Street averaged approximately $1,408 per square foot annually in the second quarter of 2026, reflecting the premium commanded by prime Broadway frontage in the immediate vicinity of 579 Broadway.
Across the broader SoHo submarket, rents rose roughly 19% year over year, with vacancy falling to its lowest level since 2023. Availability has tightened as demand from fashion, beauty, fitness, and food-and-beverage tenants has remained sustained. The MAC transaction represents a relocation — not a net-new market entry — but it moves the brand's flagship to a higher-profile position on the corridor as competition for prime storefronts intensifies.
About the Brokers
Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm that generated revenues of more than $3.4 billion for the twelve months ended March 31, 2026, and operates from more than 185 offices with over 9,600 professionals across four continents. Cushman & Wakefield is a global commercial real estate services firm that represented MAC Cosmetics in the tenant-side negotiations.
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