Ciccio’s, a new Italian café owned by first-time Italian restaurateur Giacomo Romano and an experienced American restaurant architect Sam Leung, will open its first location at Square Foot Realty-owned 190 Avenue of the Americas in the heart of Soho.
Julia Maksimova of Square Foot Realty represented Ciccio’s in the deal. Howard Aaron and Aaron Gavios, also of Square Foot Realty represented the landlord in-house.
Ciccio’s will occupy 750 square feet of a mix-use building, with retail stores taking up the bottom floor and residential occupying floors two through six. According to Ms. Maksimova there are currently two other stores occupying the space: Soho Organics, an upscale hair salon, and a no-name 25-year-old antique store.
The asking rent on the 10-year lease was $104 per square foot, and according to Mr. Gavios of Square foot Realty, they received a sum very close to the asking price. Mr. Giacomo and Mr. Leung were given four months free rent and were allocated $200 to upgrade their space, a space previously used by an antique store. There was no renewal option in the deal.
The new restaurant intends to specialize in Mr. Giacomo’s Tuscan cuisine in a family-friendly environment. The duo decided on the space between Vandam and Spring Streets to give their restaurant a more relaxed environment and offer a little taste of Italy.
“They wanted [their restaurant] to slow things down a bit, they didn’t want to be in an area with all of the hustle and bustle,” said Mr. Gavios, Tenant from Square Foot Realty. “This is a perfect street for that with the wide sidewalks and benches, it’s almost a park-like setting.”