339 Greenwich Street
It may be taking over from Tribeca institution Bazzini Nuts, but at least Sarabeth’s Kitchen should have no trouble seducing the neighbors with homemade chocolate chip cookies.
The favorite Upper West Side brunch spot has signed a 15-year lease for a 9,000-square-foot restaurant at 339 Greenwich Street.
Bazzini, the maker of the Yankee Stadium peanuts, has had a store and factory on the spot since the 1960s. But, with increased competition from a Whole Foods down the street, it decided to close its retail location and move the nut factory to the Bronx–all to the copious dismay of Tribeca residents.
Sarabeth’s, which opened on Amsterdam Avenue in the 1980s selling homemade jam and baked goods, seemed a logical fit for the spot, Peter Braus of Sierra Realty Corporation told The Commercial Observer. “It’s a very recognizable, very iconic building,” he said, adding it was better “than some flashy, modern bistro.”
Still, the 18-month negotiation was “challenging.” The upstairs portion of the building has been converted into condos, and the developer wanted to ensure the retail tenant “was going to be respectful of the residents,” Mr. Braus added. “That narrowed the search somewhat.”
They also had to ensure they could get landmark approval to alter the space in the 1881 building.
Despite the looming organic grocer on the street, “it’s just become an extremely viable area for a business who’s primary demographic is upscale customers looking for good brunch, good lunch,” said Mr. Braus. Indeed, we suspect it won’t be long before the aroma of chocolate chubbies and lemon buttermilk bundt cake erases any painful memories of the departed nuttier.
Mr. Braus represented both the tenant and the landlord, Bazzini Co., along with Brad Schwarz.
The asking rent was around $100 a square foot, according to Mr. Braus.