The family-run Café Aroma has leased a 2,200-square-foot retail space on the ground floor of Avenues Equity Partners' five-storey residential building at 1410 Madison Avenue in Carnegie Hill. This marks Café Aroma's sixth branch in Manhattan and its first on the Upper East Side.
The terms of the rent and the lease duration were not disclosed. Data from CBRE shows that the average asking rent for retail space on the Upper East Side in the second quarter of 2026 was $252 per square foot.
Jacob Mayer of Meridian Capital Group represented the landlord in this transaction. Shai Baradarian and Tamir Baradarian of eRealty Advisors acted for Café Aroma. The Baradarians have not yet responded to Commercial Observer's request for comment at this time.
Mr Mayer stated that 1410 Madison Avenue represents a rare turnkey restaurant space in a high-traffic Upper East Side location. It generated strong interest from operators seeking to establish themselves near Mount Sinai Hospital and the densely populated residential area of Carnegie Hill. He further explained that Café Aroma is an excellent fit for the premises and that they were pleased to have secured a lease that would enable long-term success for both the landlord and the tenant in this corridor.
Avenues Equity Partners acquired the properties at 1410 Madison Avenue and 1412 Madison Avenue in January 2025 for $6.3 million, according to property records. The opening of Café Aroma's new location underscores the appeal and potential of this retail market in the heart of Manhattan.
The establishment of another family-run café contributes to strengthening local supply and offers residents and employees of surrounding institutions an additional option for high-quality baked goods and coffee. Such lease agreements are often indicators of a stable and growing local economy.
