Butterfield Market to Open 10K-SF Long Island City Location
By Abigail Nehring February 26, 2024 1:36 pm
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An Upper East Side grocery store will expand into Queens for the first time in its 109-year history.
Family-owned grocery store Butterfield Market signed a lease for 10,055 square feet on the ground floor of the residential building at 29-17 40th Avenue in Long Island City, according to Winick Realty Group, which brokered the deal for both sides.
The deal was first reported by the New York Business Journal.
Winick declined to provide the asking rent or the length of the lease, saying only that it was a “long-term” deal. The average cost to rent retail space in Long Island City is about $56.68 per square foot, according to LoopNet.
Butterfield opened in 1915 as a grocery delivery service before moving to a storefront at 1114 Lexington Avenue between East 77th and East 78th streets in 1926, according to its website and The New York Times.
The store takes its name from the Upper East Side’s old-time “BUtterfield 8” telephone exchange, which was later replaced with the digits 288.
Butterfield Market has long had a single retail presence but started to spread out in 2020. It opened a second UES location at 1150 Madison Avenue that year and, in 2022, opened a sushi market at 1102 Lexington Avenue, Patch reported. It lists additional addresses for its commissary kitchen at 346 East 92nd Street and an office at 1449 Lexington Avenue.
“We’re very excited to see this well-established business join a plethora of wonderful tenants in the Long Island City community,” said Winick’s Thomas Galo, who arranged the deal for landlords The Davis Companies, SB Development and Hazelton Capital. “It’s a huge amenity to the area and to this luxury residential building.”
Butterfield was represented by Winick’s Charles Rapuano. Rapuano declined to comment.
The 10-story building, also known as Rise LIC, contains 103 mixed-income apartments and one retail unit. Butterfield will be the only retail tenant at the property, Galo said.
Abigail Nehring can be reached at anehring@commercialobserver.com.
