Chipotle Nabs Space at 2 Former Boston Market Storefronts
By Nicholas Rizzi May 5, 2020 1:33 pm
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Fast-food restaurant Chipotle Mexican Grill inked deals to take over two Manhattan storefronts formerly occupied by Boston Market in Washington Heights and Hell’s Kitchen, Commercial Observer has learned.
In the larger of the two deals, Chipotle signed a 10-year lease for 2,800 square feet on the ground floor of 885 10th Avenue between West 57th and West 58th Streets, according to Winick Realty Group’s Kenneth Hochhauser, who brokered the deals for Chipotle. Asking rent was $150 per square foot.
Hochhauser said Chipotle has been eyeing an outpost in Hell’s Kitchen for years until it finally settled on the space on the ground floor of Rich International’s six-story residential building at 885 10th Avenue.
“It had the right spatial requirements — size and width — and market placement,” Hochhauser said.
Chipotle also signed a 15-year deal for 2,100 square feet at 3781 Broadway between West 157th and West 158th Streets, Hochhauser said. Asking rent was $175 per square foot.
Hochhauser said signing the deals wasn’t held up by the coronavirus pandemic, but the ban on non-essential construction has delayed the build-outs of the storefronts. Still, Chipotle plans to open both locations by the end of the summer.
The landlord of 3781 Broadway, Friedland Properties, handled the deals in house via Sylvie Shames and Sarah Fabian. Rich International was represented by Davit Mneyan of the Pinnacle Group.
Shames and Fabian declined to comment and Mneyan could not be reached for comment.
