Villard Mansion to be Marketed Toward Retailers and Corporate Users

New York Palace

The Villard Mansion at the New York Palace Hotel, a 27,000-square-foot mansion built by railroad magnate Henry Villard in 1882, will be marketed by CBRE toward flagship retail tenants and corporate users when the property is relaunched in September, The Commercial Observer has learned.

“It is ideally suited for one tenant,” said Jedd Nero, executive vice president at CBRE, who is marketing the space on behalf of owner Northwood Investors LLC. “It is a very unique and rare opportunity that lends itself to a retail flagship type of tenancy.” Read More

Lease Beat

Pie Face Sets Up Northeast of Hudson Yards

464 Ninth Avenue has been leased by Pie Face, an Australian pie vendor.

Australian pie maker, Pie Face, closed on its sixth New York location, grabbing space within shouting distance of the Hudson Yards development.

The company will transform 464 Ninth Avenue into one of its pie kitchens, offering sweet and savory pastries, in a 1,000-square-foot corner. The company closed on the 10-year lease early last month. The asking price was $120 per square foot.

“They like the space, the like the traffic there during the day,” said CBRE associate, Robert Bonicoro, who represented Pie Face. The company intends to “aggressively” seek new locations in Manhattan with no specific neighborhood in mind. Areas in Brooklyn will also be considered if they offer adequate foot traffic and friendly rental fees. Optimal spots would be up to 2,000 square feet or as small as 500 square feet if basement space or storage is included. Read More

Lease Beat

Pie Face Expands To New Location in the Garment District


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. Read More