Dunkin' Donuts opened their 500th store in New York City. 

The milestone was celebrated with free coffee, prizes and donuts. The store presented the opening with a ribbon-cutting ceremony Tuesday morning.

"New York kind of captures the feeling of Dunkin' with the speed, the buzz and the positive vibe that comes out, so we really feel great about the New York," Dunkin' Brands CEO Nigel Travis told the New York Daily News at the new West 42nd St. 

Travis had some help presenting the opening for the new location. Travis was joined by former NFL players Carl Banks of the New York Giants and Greg Buttle from the New York Jets. The popular athletes helped by handing out team-designated donuts, and Dunkin' memorabilia, such as coffee mugs. 

The two also gave away board games with prizes such as donuts and coupons for Baskin Robbins ice cream. 

"When it comes to coffee, Dunkin' Donuts is first as far as I'm concerned," Buttle told the Daily News. "Great stuff."

The event featured bagpipes and drum band. Inside the pink and orange balloon-filed café, guest were treated with donuts shaped in the number 500 and java coffee. 

"We love New York City. We've been here since 1958," Travis told the Daily News. "We're the biggest retailer in terms of location in New York, so New York is really important to us."

The new location comes with a bit of a futurist style.  According to the Daily News, the new Dunkin' Donuts café features a digital menu with doubt graphics. The store also has table top seating and free Wi-Fi. 

"When its not busy like this, people can come here and relax, or they can come in the morning and pick their coffee and breakfast sandwich to go," said Travis told the Daily News.  

Travis told reporters the location was perfect because the store was not far from Time Square and the area is known to be very busy. 

According to the Daily Meal, at the end of 2012, the well-know franchise had over 10,500 Dunkin' Donuts stores worldwide, including 7,000 in the United States. Dunkin Donuts can be found in over 32 countries. They serve over 70 types of doughnuts, along with hot and cold coffees drinks, bagels, breakfast sandwiches and other baked goods. 

Dunkin Donuts parent company, Dunkin' Brands Inc., also franchise Baskin-Robbins, according to the entrepreneur.com. 

"We feel good about this; it's exciting," Travis said.