Lease Beat

New Twists in Pretzel King’s Times Square Lease

hersheys New Twists in Pretzel Kings Times Square LeaseLooks like Europe’s most neutral nation has declared a confectionery showdown: on U.S. soil no less.

Swissmaker, the so-called “pretzel pioneer,” is opening its first New York location—just down the street from Hershey’s flagship store. The candy concern has leased 1,700 square feet for 10 years, with a five-year renewal option at 723 Seventh Avenue, between 48th and 49th streets.

Stephan Bosshard started the company, best known for its roasted nuts, soft pretzels and Swiss chocolates, 28 years ago. “I had been corresponding with him for a couple of months,” Sierra Realty‘s Brad Schwarz told The Observer. “He was only going to be around for like seven days. We looked at seven or eight places, one of which he liked.” From there, Mr. Schwarz said it was as easy as submitting a proposal and scoring the space. The asking rent was $25,000 a month, and the tenant was happy to pay a good price for the one perfect spot.

The pretzel king plans on spreading his doughy hold on the city and is interested in areas with tourists and high foot traffic, such as Herald Square. But let’s not get ahead of ourselves. “He just got the keys two weeks ago,” said Mr. Schwarz.

So it looks for now like Times Square is hands down the best place to get a cavity, given that Willy Wonka also opened a candy confectionery in the Toys R’ Us in the area last fall. But, said Mr. Schwarz, only Swissmaker roasts its own nuts (not counting the gritty carts outside). “That and the pretzels.”

Landlord Farmor Realty was represented by Sam Zagoren of Square Foot Realty. The Real Deal first had news of the deal.

lkusisto@observer.com

 

 

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