Eataly Taking on SoHo With 18K-SF Location
By Nicholas Rizzi October 27, 2022 3:37 pm
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Fresh off being gobbled up by a private equity firm, Eataly is setting the table in SoHo.
The Italian food hall chain signed an 18,353-square-foot lease for space on the ground floor and lower levels of Brookfield Properties’ 200 Lafayette Street, the New York Post reported. Asking rent was $2.6 million a year, and Eataly secured a “multimillion-dollar” tenant improvement package as part of the deal, according to the Post.
A spokesperson for Brookfield declined to comment. Representatives for Eataly did not immediately respond to a request for comment.
Eataly will open its signature Italian-focused grocery store and food hall out of the base of the seven-story building at the corner of Lafayette and Broome streets in the middle of next year, the Post reported.
The SoHo spot will be Eataly’s third in the city after its outposts at 101 Liberty Street and 200 Fifth Avenue, its first in the United States.
Eataly was founded in 2003 in Tornio, Italy, and has since expanded to 44 locations around the world but struggled after it saw huge drops in sales during the pandemic. Last month, owners the Farinetti family, the Baffigo/Miroglio family and Tamburi Investment Partners sold a 52 percent stake to private equity firm Investindustrial for nearly $200 million with plans to retire debts and open new flagship stores in North America, Europe, the Middle East and Asia.
CBRE’s Joel Stephen represented Eataly in the SoHo deal while Brookfield handled it in-house via Jason Maurer along with Michael O’Neill, Alan Schmerzler, Jason Greenstone, Steven Soutendijk and Taylor Reynolds of Cushman & Wakefield. CBRE and C&W declined to comment.
The entirety of the 32,000-square-foot storefront at 200 Lafayette was formerly occupied by luxury appliance showroom Pirch, which opened in 2016 but closed a year later as the company restructured its operations, as Commercial Observer previously reported.
Nicholas Rizzi can be reached at nrizzi@commercialobserver.com.
