News: Brokerage

The Bromley Companies announces Levain Bakery to open new location at 122 Fifth Ave.

Manhattan, NY The Bromley Companies, developer of a diversified national portfolio, announced that the bakery Levain Bakery has signed on to lease space at 122 Fifth Ave., an 11-story, mixed-use project. The newly reimagined 122 Fifth Ave. is also home to retailers including Pandora, Parachute Home and athleisure brand Allbirds. The landmarked office tower reached completion earlier this month.

Founded in 1995 by Pam Weekes and Connie McDonald as a small bread shop on the Upper West Side, Levain Bakery has become a renowned destination. Levain operates eight bakeries within New York City and also has locations in Chicago, Boston, the Greater Washington DC area, and most recently opened their first West Coast bakery in Los Angeles.

As part of its lease, Levain Bakery will occupy 3,000 s/f at the base level of the office component of 122 Fifth Ave., adjacent to the 18th entrance of the building – a location for residents, visitors and businesses in the Flatiron neighborhood. The bakery is expected to open Q1 of next year. Levain was represented by Newmark, while Bromley was represented by Cushman & Wakefield. 

"Levain Bakery is a key piece to the puzzle in our vision of creating a premier office destination where our tenants can look forward to their commute and the seamlessness of it all,” said Nicholas Haines, CEO of Bromley Companies. “The amenity package at 122 Fifth represents modern amenities that we believe blend the conveniences of home with the professionalism of the office that will encourage workers to want to be in person. We are thrilled to welcome Levain to office tenants, visitors and neighbors of the Flatiron district.”

Through a $100-million dollar investment, Bromley Companies has elevated the offering of the project with the addition of a rooftop pavilion and terrace to the building, expanding it to 300,000 s/f.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,