The Real Deal New York

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
By Mary Diduch and Christian Bautista | December 06, 2018 08:00AM

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.