Investor Jay Schwimmer inks full-building lease for Moishe’s bakery site

The lease at 115 Second Avenue is for 21 years, and includes an option to buy

TRD New York /
Dec.December 06, 2018 08:00 AM

1115 Second Avenue (Credit: Google Maps)

Investor Jay Schwimmer just inked a 21-year lease for the entire three-story East Village property that’s anchored by neighborhood institution Moishe’s Bake Shop, according to a city filing.

Pearl Roth Realty Inc. owns the building, which is located at 115 2nd Ave. and is home to the long-standing bakery. The property, which sits near the corner of East 7th Street, was built in 1901 and spans 3,400 square feet, according to city data. Pearl Roth has owned the property since the mid-1970s, property records show.

The lease begins in March and includes an option for Schwimmer to buy the building.

Moishe’s, owned by Moishe Perl, is a popular bakery that’s been in the location for four decades or so. It’s unclear when exactly the bakery opened. A New York Times report pegged the birth of the shop to 1974, which is different from the 1978 opening date in the store’s website. Another report from the Villager said that the bakery opened in 1972.

Schwimmer declined to comment. Pearl Roth and the owner of Moishe’s Bake Shop could not be reached.

Related Articles

250th Issue

The Real Deal celebrates 250 issues

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

Neir’s Tavern (Credit: Google Maps)

City’s oldest bar, of “Goodfellas” fame, gets last-minute lifeline

Neir's Tavern (Credit: Google Maps)

Landlord to bar owner: You don’t have to go home but you can’t stay here

729 Seventh Avenue (Credit: Google Maps)

Lawyer argued façade was safe 3 months before fatal accident

Bill Ackman, LeBron James, and Arnold Schwarzenegger with 787 11th Avenue (Credit: Google Maps and Getty Images)

Celebrity property group caught in $11M construction dispute

Renderings of The William Vale and Denizen Bushwick (Credit: iStock)

All Year’s rating outlook turns negative as bondholders reject two amendments

RXR CEO Scott Rechler and an aerial view of the site (Credit: Getty Images, Google Maps)

RXR plans 21-story LIC office building with manufacturing incentives