Cafe Aroma Signs Lease for Upper East Side Retail Location

Avenues Equity Partners has secured a new tenant for a residential property in Carnegie Hill. Family-owned bakery and coffee operator Cafe Aroma has leased 2,200 square feet of retail space at the base of 1410 Madison Avenue. This transaction marks the brand’s first expansion into the Upper East Side and brings its total presence in Manhattan to six locations.

The space is situated within a five-story residential building. The landlord was represented in the deal by Jacob Mayer of Meridian Capital Group. Representing Cafe Aroma were Shai Baradarian and Tamir Baradarian of eRealty Advisors. Specific terms regarding the lease duration and the rental rate were not publicly disclosed.

Market data for the area provides context for the transaction. According to CBRE, the average asking rent for retail space on the Upper East Side stood at $252 per square foot during the second quarter of 2026.

Commenting on the transaction, Mayer highlighted the property’s positioning. He described the site as a turnkey restaurant space in a high-traffic area, noting that it drew interest from operators aiming to serve the dense residential population of Carnegie Hill and the nearby Mount Sinai complex.

Avenues Equity Partners acquired the property at 1410 Madison Avenue, along with the adjacent 1412 Madison Avenue, for $6.3 million in January 2025, as indicated by property records.

What to watch

• Future lease filings that may reveal the specific rental rate and lease duration for the 2,200 square foot space.
• Additional expansion activity from Cafe Aroma as it integrates the new Upper East Side location into its portfolio.
• Q3 2026 retail market reports from CBRE to monitor changes in the Upper East Side average asking rent.

Source: original release