Search
 

Gourmet Food Supplier to Build Wholesale/Retail Facility

NEW YORK CITY-Upper East Siders know Grace's Marketplace for its high-class take-out, but the family-owned business also supplies many of the city's restaurants and hotels. It will open a second retail store further uptown in a new building that will also house its wholesale business.

By Glen Thompson | Updated on September 17, 2002

NEW YORK CITY-Upper East Side fancy-food retailer Grace’s Marketplace has purchased a parcel of city-owned land in Harlem. The company will construct a new building to house its wholesale operations as well as office space and a ground-floor retail store to serve the Harlem community.

The 13,627-sf lot is located on Park Avenue and East 121st Street. Grace’s wholesale plant is currently located in East Harlem, at 530 East 119th St. After the new facility is constructed, the company will sell that property to the Blumenfeld Development Group to become part of East River Plaza, a 480,000-square-foot shopping center that is to include Home Depot, Costco, Best Buy, Staples and Old Navy, among others.

Grace’s owners Joseph and Grace Doria will invest roughly $2.7 million to build a three-story, 27,200-sf building on the Park Avenue site, which they purchased from the city for $136,270. In addition to housing Grace’s wholesale business, the facility will include 6,400 sf of leasable office space and a 1,900-sf street-level retail store. Grace’s operates a retail market at 1237 Third Ave.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.