Rose Associates, Inc., Signs 2,462 S.F. with Potbelly at 150 East 44th Street
Posted On August 16, 2011
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, Rose Associates is a developer, owner and operator of premium residential properties. From planning a new development to managing day-to-day property operations, the Rose 360 Platform offers a full range of services designed to maximize the value of real estate. The firm oversees more than 26,000 units across New York, with approximately $2 billion in projects under development. Rose recently opened the historic skyscraper 70 Pine Street, which the firm is transforming into a luxury rental property with 644 residential units, 132 extend-stay apartments and a destination restaurant/lounge occupying the top four floors.