New York , NY – August 18, 2011 – (RealEstateRama) — Rose Associates, Inc. recently signed a 15-year lease with Potbelly at the Metropolis, a property located at 150 East 44th Street in Manhattan. The popular sandwich maker is now open and operating in the 2,462-square-foot space, which was formerly occupied by Benvenuto Café and is adjacent to a Chipotle restaurant.
Bruce Spiegel and Bill Bergman of Rose Associates, Inc. represented the Metropolis in the lease transaction. Potbelly was represented by Jeff Roseman, Mark Frankel and Benjamin Birnbaum of Newmark Knight Frank.
“The Metropolis space is just off of Lexington Avenue on 44th Street, a location that allows Potbelly to introduce itself to thousands of office workers and midtown residents,” said Spiegel, a senior managing director at Rose Associates who leased the building’s only other retail space to Chipotle in 2003. “This was Chipotle’s first restaurant in Manhattan, and the location proved hugely successful for launching the brand in this market.”
Added Spiegel: “These two restaurants complement one another nicely, with a similar price point and demographic appeal.”
Potbelly, a Chicago-based gourmet sandwich maker, entered the Manhattan market earlier this year with two other locations – 101 Maiden Lane and 501 Seventh Avenue. Founded in 1977, Potbelly has more than 200 locations in 12 states and Washington, D.C.
About Rose Associates, Inc.
Based in New York City, Rose Associates, Inc. is a developer, manager and marketer of premium residential, commercial and retail properties. Rose offers a variety of expert services including pre-development consulting, property development, property management, residential marketing, retail and commercial leasing, financial services, construction supervision, project management, and asset management.
PRESS CONTACT:
Shea Communications
Richard Shea (212) 627-5766
