Cafe Metro coming to 42nd St

Real Estate Weekly, April 16, 2003

Soon a brand new Cafe Metro will grace the busy Grand Central intersection of 42nd Street and Fifth Avenue. Insignia/ ESG, which exclusively represents landlord Tommy Hilfiger 485 Fifth, Inc., will install the trendy lunch spot at 485 Fifth Avenue, aka 14 East 42nd St.

Insignia acted on both sides of the 20year deal. David LaPierre, managing director, and Loren Baron, associate director, of Insignia's Retail Group, together with Bruce Surry, executive managing director, arranged the 6,600-SF transaction estimated to be valued at an aggregate of $10.6 million.

"This is an ideal location for Cafe Metro," said LaPierre. "It's in the heart of the Grand Central district which enjoys some of the City's heaviest pedestrian traffic in the mornings and during lunch hour--prime times for Cafe Metro."

According to Baron, the bi-level cafe, which will occupy former Ranch One space, will be configured to offer 3,200 SF at street level and 3,400 SF below grade.

Cafe Metro has seven other operations throughout the city. "We are definitely in expansion mode," said Steve Tenedios, president and CEO of Cafe Metro. We cater to the breakfast and lunch time crowd, and we are very pleased to gain a foothold on 42nd Street in close proximity to Bryant Park, Grand Central Station and the Fifth/Madison Avenue corridor."

Subsequent to build out with its signature design, Cafe Metro plans to open in summer 2003.