Award-winning Greek bakery Artopolis is expanding into Manhattan.
The Astoria, Queens favorite has signed a 10-year lease with Hidrock Realty for the 2,100 s/f 512 Broome Street in Soho.
The property is a single occupancy retail building that Hidrock acquired for $2.8 million earlier this year as part of a 1031 Exchange. The lease marks Artopolis’ first foray into Manhattan; the bakery currently has a location in Astoria, Queens.
Steven Hidary, principal of Hidrock Realty, represented the landlord in the transaction, while Yancy Foster, associate broker at Pan Brothers Associates, represented the tenant. Asking rent for the space was approximately $196 per square foot.
“After establishing itself in Queens, Artopolis was ready to expand into the Manhattan market – it just needed the right location,” said Hidary. “With this lease at 512 Broome St., Artopolis has the opportunity to transform an underutilized building in one of the city’s hottest neighborhoods into a customized, high-end bakery to serve the area’s many residents and tourists.”
512 Broome St. is located on Broome Street off of West Broadway, near many of SoHo’s celebrated art galleries, cafes, restaurants and flagship stores. The building boasts 1,100 square feet on the ground floor and 1,000 square feet in the basement. 55 Thompson, a new residential rental building, recently opened down the block and the famed 60 Thompson Hotel is steps away.