Fred Astaire Dance Studios Leases First Park Slope Location

The international dance franchise Fred Astaire Dance Studios is waltzing into Brooklyn’s Park Slope neighborhood.

The school’s new lease at 508 Fifth Avenue spans 2,500 square feet of ground-floor retail space previously occupied by shoe store Bobby Sportswear. The 10-year deal’s asking rent was $72 per square foot.

The lease is the New York dance studio franchise’s sixth deal completed by Lee & Associates NYC‘s Claude Kolb.

“Fred Astaire Dance Studios has been very deliberate in its growth strategy, focusing on communities where demographics, lifestyle and disposable income align with its business model,” Kolb said in a statement. “Park Slope checked all of the boxes.”

Peter Yoon of Ripco Real Estate represented the landlord, Zita Properties.

“We were pleased to represent the landlord in securing Fred Astaire Dance Studio’s new lease at 508 Fifth Avenue,” Yoon said in a statement. “The transaction highlights the continued demand for well-located, high-quality retail and commercial space in Midtown, as established brands seek premier locations that align with their growth strategies and customer experience goals.”

The ownership group is actively growing in New York and the surrounding suburbs, according to Kolb. A seventh location is underway in White Plains.

Fred Astaire Dance Studios was co-founded in 1947 by the legendary American dancer and film star Fred Astaire. Its first location at the corner of Park Avenue and East 59th Street in Manhattan eventually grew to roughly 300 franchise locations globally, with more than 20 in New York state. Astaire sold his interest in the chain in 1966.

The newest 508 Fifth Avenue location is expected to welcome its first students in September of this year.

Zita Properties could not immediately be reached for comment.