Le Pain Quotidien Inks 2,941-Square-Foot Madison Avenue Deal
Billy Gray June 18, 2013, 7:45 a.m.
The international bakery and boulangerie chain Le Pain Quotidien has moved on up to Carnegie Hill after signing a 12-year, 2,941-square-foot lease at 1399 Madison Avenue, near 97th Street.
The store, already open, is the northernmost Manhattan location of Le Pain Quotidien, which also has Brooklyn and suburban offshoots. CBRE‘s Amira Yunis and Matt Krell repped the tenant. Rose Associates Senior Managing Director Bruce Spiegel and Commercial Leasing Manager William Bergman represented the landlord, MSMC Residential Real Estate LLC. Asking rent was $150 per square foot.
“This is a very well trafficked area in one of Manhattan’s leading residential neighborhoods,” Mr. Spiegel said in a prepared statement. “Le Pain Quotidien should surely enjoy having a presence here.”
The somewhat high-minded chain–organic ingredients, communal tables, Francophile appeal–was founded in Brussels in 1990 and has since developed a presence just about everywhere in Manhattan below 96th Street. There are currently 29 stores, including one in Central Park (at 69th Street) and prime areas like Rockefeller Center and 50 West 72nd Street, near Central Park West.