Taconic Partners and National Real Estate Advisors have inked a deal to bring the discount supermarket chain Aldi to Midtown.
The German grocer signed a lease for 25,000 square feet at the new luxury rental building at 312 West 43rd Street, known as The Ellery. The flagship location will have an entrance on 42nd Street and is expected to open next year, according to the landlord.
CBRE’s Lon Rubackin, Michael Kadosh and Bevan Cohen represented the landlord in the deal. Ripco Real Estate’s Esther Bukai represented Aldi.
The deal comes on the heels of Aldi announcing plans to open more than 225 stores in the U.S. this year. Last year, Aldi opened nearly 120 stores, bringing the total number of locations to over 2,400 and making it the third-largest grocery chain by store count in the U.S. The openings this year are part of a five-year plan by Aldi to add 800 locations in total by the end of 2028.
The grocer currently has locations in East Harlem, the Bronx and three in Brooklyn, according to its website.
The developers took over the Times Square-adjacent property in 2018 via a 99-year ground lease. The site used to be the headquarters of the 1199SEIU union. In 2022, they landed a $204 million construction loan from Union Labor Life Insurance Company to build a 32-story, 330-unit building. Taconic was also part of a big neighboring project as well, locking in $200 million of long-term debt alongside Mitsui Fudosan America for 525 West 52nd Street in 2019.
Leasing for The Ellery kicked off 11 months ago and the building is fully leased, according to the landlord. In addition to the retail space, the Handel Architects-designed building will have spa areas, private gardens, workspaces and a pool on the rooftop.
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