Rose Associates Signs New Retail Lease with Melt Shop at 55 West 26th Street
Posted On July 11, 2012
Rose Associates recently signed a 10-year lease with Melt Shop at The Capitol at Chelsea, a luxury residential rental building located at 55 West 26th Street in Manhattan. The popular sandwich maker, known for its gourmet grilled cheese sandwiches, is planning a 20-seat restaurant and a large take-out counter in the 1,135-square-foot retail plaza space.
Bruce Spiegel and Bill Bergman of Rose Associates represented The Capitol at Chelsea in the lease transaction. Rose’s Commercial and Technical Services group is providing construction oversight for the restaurant. Melt Shop was represented by Alex Turboff of BCD.
“Melt Shop is a great fit for the neighborhood,” said Spiegel, a senior managing director at Rose Associates. “This area of Chelsea has a substantial residential base and it also gets significant traffic from office workers during the day.”
Located within the high-traffic corridor on Sixth Avenue between 26th and 27th Streets, The Capitol at Chelsea currently has two available blocks of retail space—a 1,250-square-foot block of prime space on Sixth Avenue and a 882-square-foot block on the north portion of the building’s public plaza. Melt Shop will join longtime retail tenants of the building including Starbucks, Serenity Spa, Valley National Bank and Pet Central.
Spencer Rubin launched Melt Shop, which opened its first Manhattan location at 601 Lexington Avenue in April 2011. While their goal is to serve the most delicious grilled cheese on the planet, Melt Shop is also known for its tomato soup, tater tots and hand-spun milkshakes.
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.