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
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Stephen Klym (Rabih Chebab)
Warburg Realty taps veteran BHS exec to run Tribeca office
Warburg Realty taps veteran BHS exec to run Tribeca office
The Real Deal's Hiten Samtani and Urban Green Council CEO John Mandyck
Breaking down New York real estate’s path to sustainability
Breaking down New York real estate’s path to sustainability
85 Jay Street in Dumbo and 515 West 29th Street in Chelsea (Photos via Winick, SCDA Architects)
Here are the new developments offering the most buyer incentives
Here are the new developments offering the most buyer incentives
Glenn Sanford (Photo courtesy of eXp Realty)
The Closing: Glenn Sanford
The Closing: Glenn Sanford
(Getty, iStock)
Buyers hunt Hamptons, North Fork homes — often in vain
Buyers hunt Hamptons, North Fork homes — often in vain
arrow_forward_ios

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

Loading...