Lovers of Zaro's Bread Basket bagels, babka and assorted homemade treats will soon have another outlet to visit to satisfy their palettes. The 85-year-old baking institution has renewed its ground-floor lease at Sherwood Equities' 370 Lexington Ave. and will open a store there in space previously used for baking and storage.
The renewal, covering 2,900 s/f, is for a term of eight years. The new store, anticipated to open in the fall, is on the south side of East 41st St., a few doors from the corner at Lexington Ave.
"Zaro's seeks to be in well-trafficked areas, and this Grand Central District location between Lexington and Park has a steady stream of pedestrians passing by each day," said Adam Weissleder, leasing agent at 370 Lexington. "The tenant recognized it could reconfigure its existing space to supplement its very popular existing Grand Central outlet to accommodate even more customers in the district, while broadening its reach in Midtown East."
Established in 1927, the "New York Born and Bread" company has several retail shops in New York City, including within significant transportation centers, such as Grand Central Terminal, Penn Station, and the Port Authority bus terminal.
Jill Burrowes of Sherwood Equities joined Mr. Weissleder in representing the landlord.
Sherwood Equities is a New York City based, privately held real estate investment and development company established in 1952. Long known for its contribution to the development of Times Square, Sherwood has become a major player in the High Line and Hudson Yards area, as well as other parts of Manhattan. In addition to owning or developing some of Manhattan's most prominent properties, such as 2 Times Square, 1 Times Square and 1600 Broadway, Sherwood is currently expanding its acquisition and development pipeline throughout the city.
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