News: Brokerage

Modern Bread & Bagel signs 15-year lease at 248 Broome Street

Manhattan, NY Modern Bread & Bagel, the gluten-free bagel and bakery concept, is making its way to the Lower East Side. The company has signed a 15-year lease for space at 248 Broome Street, formerly home to Erin McKenna’s Bakery. This marks Modern Bread & Bagel’s fourth New York City location and seventh nationwide, continuing its rapid expansion across major markets.

The deal was arranged by Meridian Retail Leasing, with senior director Garrett Kelly and director Noam Aziz representing the landlord, while senior director Ben Biberaj and associate Desi Avidane represented the tenant. The deal underscores the continued strength of the city’s food and beverage sector, particularly in neighborhoods like the Lower East Side, where specialty concepts thrive.

“This is a fantastic addition to the Lower East Side,” said Avidane of Meridian Retail Leasing. “Modern Bread & Bagel has built a dedicated following, and their gluten-free bagels will fit perfectly in a neighborhood that appreciates innovative and high-quality food options. The fact that they’re taking over a space formerly occupied by another gluten-free bakery makes this transition even more seamless.”

The new location offers 600 s/f on the ground floor and 900 s/f in the basement, providing space for both retail and kitchen operations. Popular neighboring establishments include Eel Bar, The Ten Bells, Dudley’s, Barrio Chino, Somm Time, Sunday to Sunday, Bar Valentina, Zest Sushi Izakaya, and Mila’s Bistro. 

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

Navigating the changing landscape of hotel Property Improvement Plans and conversion brands - by Andrew Cameron

When owners are due for a significant Property Improvement Plan (PIP), they must carefully evaluate what the best course of action is. Over the past five years, major hotel brands have become significantly more flexible with their PIP schedules.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Multi-generational multifamily owners - who’s in and who’s out - by Shallini Mehra and Amit Doshi

Many long-time property owners are divesting from their rent stabilized properties at an increasingly rapid pace. This trend has gained momentum primarily due to the unyielding permanence of rent laws over the past six years and the increasing operating costs that continue to outstrip rent growth. In addition, the judiciary’s elongated timeline in processing evictions and tenant rent challenges,