Lease Beat

Pie Face Expands To New Location in the Garment District

pie face Pie Face Expands To New Location in the Garment District

The decorated pies of Pie Face.

Australian company Pie Face is expanding its chain of meat and fruitpies stores.The company inked a 15-year lease for a 1,400-square-foot ground floor space at 1407 Broadway, between West 38th and West 39th streets. The bakery, known for its pies decorated with stenciled-on smiling faces, is expected to open a 24-hour café in March next year, said CBRE broker Robert Bonicoro, who represented Pie Face in the deal.

The asking rent for the space–which is located in a 42-story office building designed by renowned architect Ely Kahn in 1950–clocked in at $250 a square foot.

The co-founder of Pie Face is Atlanta native Wayne Homschek, who relocated to Australia more than 20 years ago. There, he co-founded Pie Face, which specializes in selling iconic Australian meat pies. Today, the company boasts more than 70 locations across Australia.

At the beginning of the year, Mr. Homschek brought his pies to the United States. The first New York location opened in January at 1691 Broadway, near the corner of 53rd street. A second store opened at 509 Third Avenue, between 34th and 35th streets in Murray Hill.

“They are acquiring new locations,” said Mr. Bonicoro, adding that the new store in the Garment District is meant to “capitalize on the heavy office density and exposure of Broadway.”

The company is in the process of finalizing other deals for two locations that are due to open in December and February in the Penn Plaza District and Chelsea, respectively.

Joshua Gettler and Matthew Gorman of New Street Realty represented Chicago-based landlord Lightstone in the deal for the space at 1407 Broadway.

apirolo@observer.com

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