Ralph Lauren's Polo Bar to Relocate in NYC With Multi-Year Rent Abatement
The high-profile restaurant is moving to a new Related Companies development, receiving at least two years of free rent as part of the deal.
Ralph Lauren's exclusive Polo Bar is set to leave its long-standing Midtown Manhattan location for a new space in a Related Companies-developed office tower at 625 Madison Avenue. The move, confirmed by sources familiar with the leasing negotiations, includes a significant rent concession of at least two years of free rent for the popular restaurant.
The Polo Bar, a venue known for attracting celebrities and high society since its opening in 2015, will occupy the ground floor of the new 53-story building, which is expected to be completed in the summer of 2029. This relocation marks a departure from its current Fifth Avenue-adjacent spot. The developer is also reportedly in talks with Ralph Lauren to expand the brand's presence in Palm Beach, following the recent opening of a Polo Bar in London.
The inclusion of The Polo Bar is seen as a key factor driving leasing interest in the new 625 Madison Avenue tower. Other prospective tenants include General Assembly and software investment firm Veritas, which are nearing lease agreements. An undisclosed tenant is also in close proximity to finalizing a lease for the building's top two floors.
Industry observers note the increasing importance of prominent restaurants and retail spaces as amenities for office tenants in New York City, particularly for new developments and major building repositionings. The new location is expected to offer The Polo Bar a larger dining space than its current, more intimate setting.
While the move promises more capacity, some regular patrons have expressed concern about whether the new venue will retain the distinctive atmosphere of the original location. The current restaurant's downstairs dining room is often described as a "cave-like" space, contributing to its unique ambiance. Securing a reservation at the existing Polo Bar has long been considered a challenge, requiring insider knowledge or persistent efforts.
