A neighborhood supermarket chain appears to be expanding.
Gourmet grocer Westside Market has purchased a large retail space at 2250 Broadway on the Upper West Side for $32.5 million, according to a deed that was recorded May 5 and became public Tuesday. The seller was TPG Angelo Gordon, an alternative investment firm.
The commercial condo off West 81st Street is the former home of an RKO vaudeville theater. It now houses a Staples, and previous tenants have included home goods and clothing stores.
Westside Market has seven existing locations in Manhattan, according to its website. A location nearby the new purchase, at 2171 Broadway, closed in 2017. Two other locations are further up the boulevard, one at West 98th Street and another at West 110th Street. The company leases at several locations, according to news reports, but it’s unclear whether it has ever purchased a site.
Ioannis “John” Zoitas, founder of the family-owned chain, signed the deed for the buyer, officially Westside 2250 Broadway LLC.
Zoitas, a Greek immigrant, opened the first Westside Market on West 110th Street in 1977. News profiles of the chain have highlighted the quality of the produce, neighborhood feel and prepared foods.
It’s unclear whether Westside Market is planning to open another location in the newly purchased site. The company did not respond to requests for comment by press time. Other smaller retail sites in the area rent for $100 to $135 per square foot annually, according to listings on LoopNet.
TPG Angelo Gordon bought the site in 2022 for $27 million. Doug Profenius, a real estate principal for the company, signed the deed for the seller. A spokesperson for the company declined to comment.
