Italian Bakery Bauli Signs Lease for First U.S. Location Near Union Square
By Mark Hallum October 4, 2024 4:00 pm
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Madone! An Italian baked goods brand is going from capicola to gabagool and picking New York City for its first U.S. brick-and-mortar cafe.
Bauli signed a 10-year, 2,970-square-foot lease to open a cafe at the Gordon Property Group’s 866 Broadway, according to landlord broker Ripco Real Estate, which did not disclose the asking rent.
Average retail asking rent on Broadway from 14th to 23rd streets was $338 per square foot in the second quarter of 2024, according to a recent report from CBRE.
Bauli is known for its holiday baked goods pandoro and panettone. The chain, known in Europe as Minuto Bauli, mainly serves an assortment of pandoro and coffee and has seven locations spread throughout Italy and Austria, according to its website. It’s unclear when it plans to open its U.S. outpost.
“Bauli started as a small artisan bakery and has a storied history that, after 100 years, has grown it into a worldwide company,” Ripco’s Emily Kripitz, who represented Gordon Property Group with Beth Rosen, said in a statement. “Every decision the company makes is strategic, and in opening the company’s first Minuto Bauli store in the United States, they sought the right partners to secure the perfect location.”
Aylin Gucalp and Cassie Durand of CBRE (CBRE) handled negotiations on behalf of Minuto Bauli. CBRE did not immediately respond to a request for comment.
Built in 1910, 866 Broadway is a four-story building consisting mostly of apartments.
Mark Hallum can be reached at mhallum@commercialobserver.com.
