Leases  ·  Retail

Dos Toros Relocating to East 78th Street Condo Building

reprints


Dos Toros Taqueria is relocating on the Upper East Side. 

The prolific Mexican chain — which has 18 outposts in Manhattan — will move from 1111 Lexington Avenue around the corner to a new space at 150 East 78th Street, a new Robert A.M. Stern-designed condo building developed by Midwood Investment & Development, according to the landlord. 

SEE ALSO: WeWork Ditches Big Gas Company Tower Lease in Downtown L.A.

The San Francisco-style eatery inked a 1,565-square-foot, 15-year lease for the new store, which will open in early 2024, according to a Midwood spokesperson. The landlord declined to disclose the asking rent for the space, but average asking retail rents nearby on Third Avenue hovered around $236 per square foot, CBRE’s latest market report shows. 

Ron Bondy at Midwood represented the landlord in-house, along with Ripco Real Estate’s Emily Kripitz and Beth Rosen. Craig Hantgan at Esquire Properties represented Dos Toros. The Ripco brokers and Hantgan didn’t immediately return requests for comment.

“We are thrilled that 150 East 78th Street will be home to a new Dos Toros Taqueria as the chain expands its footprint across Manhattan,” Bondy said in a statement. 

Dos Toros will join French pâtisserie Angelina Paris and Italian gelateria and chocolate shop Venchi, both of which are already open, at 150 East 78th Street. 

The 16-story condo tower was completed last year and holds 25 apartments ranging from studios to six-bedrooms. Asking prices in the nearly sold-out property have run the gamut from $900,000 for a 412-square-foot studio to $35 million for a six-bedroom, nine-bath penthouse.

Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.