Key Food Expands on Upper West Side by Almost 10K SF
By Mark Hallum January 21, 2022 2:59 pm
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A Key Food on the Upper West Side is upgrading its facility and expanding to 14,000 square feet at 725-733 Amsterdam Avenue and West 96th Street, The Real Deal first reported.
Its existing store is up the block at 755 Amsterdam Avenue and clocks in at about 5,000 square feet, while the new store will occupy 10,000 square feet on the main level of 725-733 Amsterdam Avenue and 4,000 square feet in the basement, according to Greg Parassio of Booth Capital, who represented both the proprietor, Flavio Urgiles, and the landlord, Agus Holdings.
Urgiles has signed for a 15-year lease at 725-733 Amsterdam where the business will pay $100 per square foot, according to Josh Agus of Agus Holdings. It is unclear whether this was the asking rent or taking.
“As a family-run real estate investment company we are passionate about finding New York City metro area locations to match with successful supermarkets,” Agus said in a statement. “We are always seeking out the best ‘banners/supermarket brands’ for these sites and care to find operators that put in the time, energy and resources to make their location a success.”
The store plans to relocate by January 31 from the current location at 755 Amsterdam.
Key Food will join Plant Shed, a boutique gardening store that doubles as a café, on the block. The grocery store will be able to offer a greater range of products as well, such as a sushi bar, The Real Deal reported.
“The owner of this Key Food is precisely that. He is sincere to the core and works around the clock to ensure his customers are satisfied. This standard holds across all our investments and lease-up strategy,” Agus added.
The Key Food brand was founded in Brooklyn in 1937 and now has scattered locations across the northeast states and Florida.
Mark Hallum can be reached at mhallum@commercialobserver.com.
