Taconic Partners and National Real Estate Advisors have secured a lease agreement with Aldi, the German discount supermarket chain, for a 25,000-square-foot retail space at The Ellery, located at 312 West 43rd Street in Midtown. The new store will serve as Aldi’s flagship location in the area, with its entrance planned on 42nd Street. According to the landlord, the opening is scheduled for next year.
CBRE’s Lon Rubackin, Michael Kadosh and Bevan Cohen acted on behalf of the landlord during the negotiations. Esther Bukai from Ripco Real Estate represented Aldi in finalizing the deal.
Aldi recently announced plans to open over 225 new stores across the United States this year. This expansion follows last year’s addition of nearly 120 locations, bringing Aldi’s total U.S. presence to more than 2,400 stores and making it the country’s third-largest grocery chain by number of locations. The ongoing openings are part of a five-year initiative aiming to add 800 new stores by the end of 2028.
Currently, Aldi operates several locations in New York City, including East Harlem, the Bronx, and three stores in Brooklyn.
The development site for The Ellery was previously home to the headquarters of the 1199SEIU union before Taconic Partners and National Real Estate Advisors took control through a 99-year ground lease in 2018. In 2022, they obtained a $204 million construction loan from Union Labor Life Insurance Company to develop a 32-story building with 330 rental units. Taconic has also been involved in other nearby projects, such as securing $200 million in long-term debt with Mitsui Fudosan America for another residential property at 525 West 52nd Street in 2019.
Leasing for The Ellery began about eleven months ago and all residential units are now fully leased. The Handel Architects-designed building features amenities including spa areas, private gardens, workspaces and a rooftop pool.
