Bread & Butter Leases 13K-Plus Square Feet in Midtown West [Updated]
Deli and grocery joint Bread & Butter is opening its third location with a new branding concept, according to chain owner Terence Park of VI Group.
“We are putting in new Bread & Butter 2.0. We have developed new branding for Bread & Butter and this will be our third location with the new branding concept,” Park told Commercial Observer. “The other two locations are 462 Seventh Avenue and 401 East 34th Street.”
Bread & Butter has taken 13,436 square feet at APF Properties’ 25 West 56th Street between Fifth Avenue and Avenue of the Americas, which has an alternate address of 24-26 West 57th Street, CoStar Group shows. The space includes 5,248 square feet on the ground floor, 4,196 square feet on the mezzanine level and 3,992 square feet below grade, according to CBRE marketing materials.
This location will be larger and higher end than the original Bread & Butters, “catering to the Plaza West clientele,” said CBRE’s Amira Yunis, who noted there will be a larger seating area with a greater array of food. Yunis represented both sides in the deal along with CBRE’s Anthony Stanford.
The lease is for 15 years, CoStar indicates. The asking rent was $1 million per year, a source with knowledge of the deal said.
There are three Bread & Butter locations employing the old design and logo in Manhattan—at 419 Park Avenue South, 303 Fifth Avenue and 14 East 44th Street. They are known for selling an eclectic mix of food options from sandwiches to salads to stir fry and ramen.
Park also last month signed a deal to bring specialty grocery store Hudson Market to the Durst Organization’s rental building Helena 57 West at 601 West 57th Street, for its second Manhattan location.
Update: This story was edited to include comments from the tenant and broker Amira Yunis, as well as an alternate address for the eatery.