The ‘Cake Boss’ is coming to the Port Authority Bus Terminal. The New York Post reported that the Hoboken-based bakery, made famous by a TLC reality show, has signed a $4.3 million lease for 2,774 square feet on the bus terminal’s ground floor. The deal lasts for three-and-a-half years and requires the “Cake Boss Cafe” to spend $2 million on upgrades to the store.
The baker’s New Jersey store, called Carlo’s Bake Shop, has become a tourist attraction and draws lines around the block on some days. Port Authority expects this location to draw similar crowds and charged the cafe the highest rent ever for a bus terminal space.
The store might be the bakery’s first entrant into the New York City market, but as The Real Deal reported in its June issue, it’s already well-known among the city’s top real estate players. Many, including Tishman Construction and the LeFrak Organization, commission Buddy Valastro’s shop to create elaborate cakes for their media events. [Post]