70 Greenwich Avenue
With 555 million cupcakes consumed last year, the nation should be satiated in terms of butter cream frosting.
Apparently not, because Jersey-based Cupcake Stop has just signed a five-year lease at 70 Greenwich Avenue. Like its treats, the 16-month-old company’s new 450-square-foot store will be small. But at least it’s temptingly close to N.Y.U. kiddies about to enter sugar-fueled finals season.
The company drove its first cupcake truck into the city last year after founder and recent law school grad Lev Ekster discovered the only thing the city needs less than another cupcake is another lawyer.
On the company’s Web site, Mr. Ekster cheerfully declares an aversion to setting up a permanent locale: “Instead of being limited to a brick and mortar location, and wanting to share the delicious creations with everyone, CupcakeStop was born,” says the site.
But now Mr. Ekster has revealed to Crain’s he’s always secretly wanted to go steady. “When I dreamed up this business,” he said, “my idea was to have a beautiful brick and mortar location, but initially, the finances weren’t there so we went the local truck route.”
The asking rent was $120 a square foot, and the deal closed near that, according to Crain’s, which first had news of the lease.
Ryan Abramow of JDF Realty Inc. represented the tenant. The landlord, Thomas M. Graham & Co., was represented in-house.