Commercial Real Estate & Advisory
Commercial Real Estate & Advisory
Close on heels of taking a space on Madison Avenue, Royce inks a lease for another store at 253 Bleecker St.
Japanese chocolate company Royce is on a tear. The company, which leased space for its first U.S. outpost on Madison Avenue in November, has inked its second Manhattan deal. The tenant has signed a 12-year deal for 620 square feet in another prime location—at 253 Bleecker St., between Cornelia and Leroy streets. Asking rent for the space, which includes an additional 400 square feet of basement space, was $290 per square foot.
Though the stretch of Bleecker Street between Sixth and Seventh avenues is filled with food shops, including Amy’s Bread, Murray’s Cheese and David’s Tea, it lacked a chocolatier, according to Steve Rappaport, the Sinvin Real Estate broker who represented Royce and landlord 253 Bleecker.
Royce plans to open for business in the first quarter of 2013, shortly after the December opening of its Madison Avenue store. It replaces a souvenir and t-shirt shop on Bleecker.
“We choose Bleecker Street because we love the neighborhood,” said Royce’s Ken Romaniszyn, a partial-owner of the brand who also owns Lady M, a cake boutique. “It has that traditional West Village feel with high foot traffic.”
Kristin McCann of Sinvin was also involved in representation on behalf of both the tenant and landlord.