Less than a year after the closing of a Baked by Melissa pass-through window on Spring Street, the mini-cupcake specialists are returning with a window on the same street, a source with intimate knowledge of the deal told Commercial Observer.
Baked by Melissa launched its bite-size cupcake business in the city with a window at 80 Spring Street in March 2009. That shop closed on July 21, 2014 before a construction project at Broadway and Spring Street commenced, as Grub Street previously reported. Now, Baked by Melissa will be setting up a new window at JTRE‘s 63 Spring Street at the corner of Spring and Lafayette Streets.
JTRE purchased the building last year for $15 million, as CO previously reported, and then spent $3 million renovating it. The renovations are almost complete, the source said.
The cupcake giant, which has made a name for itself for its quarter-tall cupcakes with flavors like tie-dye and peanut butter & jelly, has leased the 50-square-foot space for 12 years at $4,500 per square foot, the source indicated. The five-story, 6,000-square-foot building is otherwise vacant, but it will house retail on the ground floor and office upstairs.
Ricky Braha of JTRE represented the tenant and Jack Terzi of JTRE represented his company in-house in the deal. JTRE declined to comment.
Baked by Melissa has 12 locations, mostly in Manhattan.