Taconic Partners and National Real Estate Advisors have reached an agreement to lease 25,000 square feet to Aldi at The Ellery, a new luxury rental building located at 312 West 43rd Street in Midtown. The German supermarket chain’s flagship store will feature an entrance on 42nd Street and is scheduled to open next year, according to the landlord.
CBRE’s Lon Rubackin, Michael Kadosh, and Bevan Cohen represented the landlord in this transaction. Esther Bukai of Ripco Real Estate acted as Aldi’s representative.
Aldi has recently announced plans to open more than 225 stores across the United States this year. Last year, the company opened nearly 120 stores, increasing its total U.S. locations to over 2,400. This expansion has made Aldi the third-largest grocery chain in the country by store count. The current openings are part of a five-year strategy aiming for a total of 800 new locations by the end of 2028.
Currently, Aldi operates stores in East Harlem, the Bronx, and three locations in Brooklyn.
The development team acquired the property near Times Square in 2018 through a 99-year ground lease. Previously, it served as headquarters for the 1199SEIU union. In 2022, Taconic Partners and National Real Estate Advisors secured a $204 million construction loan from Union Labor Life Insurance Company to build what is now a 32-story building with 330 rental units. Taconic was also involved in another significant nearby project at 525 West 52nd Street after securing $200 million in long-term debt with Mitsui Fudosan America in 2019.
Leasing for The Ellery began eleven months ago and all residential units are now fully leased. Besides retail space, amenities at the Handel Architects-designed building include spa areas, private gardens, workspaces, and a rooftop pool.
