A German bakery selling wursts, soups, salads and baked goods, which was originally slated to open two New York locations last fall, is finally moving ahead with its plans, Volker Herrmann, owner of the bakery, Landbrot, told The Real Deal.
Landbrot, which was founded by German telecommunications execs David Rothe and Hermann, will open the eateries, at 137 Seventh Avenue South in the West Village and 185 Orchard Street on the Lower East Side, both in late March, Herrmann predicted, though no dates have been pin-pointed so far. The latter space, which is at the base of the Thompson LES Hotel, has been vacant since the completion of the hotel in 2008. Rothe will permanently move to New York city to oversee the operation of the stores.
The bakery signed on for a 15-year lease on Seventh Avenue South and Charles Street in August 2010 and a10-year lease with a five-year renewal option on Orchard Street, between East Houston and Stanton streets, in January 2011. The former location, the bakery’s flagship, has a total of 3,900 square feet, while the Orchard Street eatery, which is a satellite space (meaning it has no kitchen), has around 1,400 square feet. The bakery pays around $203 per square foot and $100 per square foot respectively for the two leases, Herrmann said.
Steve Rappaport of Sinvin Real Estate brokered the deal on behalf of the tenant. The landlords represented themselves in the deal.
Rappaport said Landbrot had secured a “phenomenal” deal for the two sites.
“They were lucky enough to secure an incredible flagship for a very decent price in the depths of the marketplace,” he said. “Even at a much higher price, it would have been a great deal.”
Of the Orchard Street store, Rappaport commented: “There’s a dearth of eating places [in that neighborhood.] It will be a great amenity for [the hotel's] guests.”
Herrmann said Lanbrot would be the first eatery of its kind in New York. The bakery chose the locations downtown, he said, because of their foot traffic.
“Both areas are true neighborhoods with a social setting as well as some local office space. We should see foot traffic day and night, as well as on the weekends, versus being in Midtown where it empties out during non-business hours,” he said.
The reason for the opening date being pushed back, a spokesperson for the bakery said, arose from permitting delays with the Department of Buildings and the Landmarks Preservation Commission. The Seventh Avenue South building, which was constructed In 1937, was granted landmark status last July, meaning the bakery had to run all construction past the commission for review.
The Orchard Street location, which has been ready for several months, could not open before the Seventh Avenue South eatery because the kitchen, where the food is prepared for both stores, is in the latter location at least 10 blocks away, the spokesperson said.