Commercial Real Estate & Advisory

Japanese Chocolate Makes a Home on Bleecker Street

By Karsten Strauss | November 28, 2012

Japan-based chocolate maker, Royce, leased 620 square feet of space at 253 Bleecker Street on November 20. The asking price was $290 per square foot.

“Bleecker Street between Sixth and Seventh Avenues is probably the best food block in the city,” said Steve Rappaport, senior managing director with Sinvin Real Estate, which represented both the tenant and the building. “Home to Amy’s Bread, Murray’s Cheese, Grom, David’s Teas, Faiccio’s, Ottomanelli’s, Keste, Pizza Roma, and John’s Pizza, it is literally a gourmet heaven.”

Royce looked at properties “all over the village” over the course of several months, Mr. Rappaport said. “None had the intensity of traffic combined with such incredible co-tenants.”

“They had not closed on Madison (other location) yet so they were looking for a downtown location with high foot traffic,” said Kristin McCann, the Sinvin senior director responsible for showing Royce the space. The tenant was interested in a smaller space – not more than 1,000 square feet – with plenty of exposure, she added. The current tenant will vacate by the end of the year, Ms. McCann said.

Royce was founded in Sapporo, Japan, in 1983. Its factory is located in Tobetsu-cho, Hokkaido, about 19 miles north of Sapporo.