Ai Fiori restaurateur expands Italian empire to UES

New York /
Jul.July 24, 2012 10:00 AM

The restaurant group behind popular Italian establishments Marea, Ai Fiori and Osteria Morini has signed a lease for a new eatery on Madison Avenue at East 86th Street, the New York Post reported. Altamarea Group, headed by chef Michael White, will move into the former Centolire space at 1167 Madison Avenue after signing a 12.5-year lease at a blended rate of about $150 per square-foot.

The space, owned by Duell Management System, is 5,000 square feet across the basement, first and second floors, with the latter comprising most of the lease. Altamarea was represented by Leslie Siben and Ben Hahr of JDF Realty. Centolire reportedly closed after a dozen years because its monthly costs associated with rent, utilities and taxes reached an unsustainable $41,000.

Altamarea would not reveal its specific plans for the new space. It added a fourth Manhattan restaurant last month in Nicoletta, a pizzeria on Second Avenue in the East Village. [Post]


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
From left: Ace Hotel’s Brad Wilson and Omnia Group's David Paz along with 225 Bowery (Getty, Google Maps, Ace hotel, Omnia Group)
Bowery micro-hotel facing foreclosure files for bankruptcy
Bowery micro-hotel facing foreclosure files for bankruptcy
200 Park Avenue and Tishman Speyer's Rob Speyer(Tishman Speyer, Getty)
MetLife Building gets the luck of the Irish
MetLife Building gets the luck of the Irish
A photo illustration of Blackstone's Jon Gray (Getty, Blackstone)
Blackstone ramps up tenant evictions
Blackstone ramps up tenant evictions
10 Riverside Boulevard (One Waterline Square, Getty)
Holiday hangover: Manhattan’s luxe market is stuck
Holiday hangover: Manhattan’s luxe market is stuck
3 Riverside Drive (Google Maps)
Won’t anyone buy this Upper West Side mansion?
Won’t anyone buy this Upper West Side mansion?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...