Italian chocolatier Venchi is opening its first standalone retail location in New York City after inking a lease for 3,000 square feet at 861 Broadway near Union Square. Venchi signed a 10-year deal for its space at the base of the four-story mixed-use building between East 17th and East 18th Streets, according to a press release from Newmark Knight Frank, which represented the company in the transaction.

The chocolatier is expected to open the location—which spans 1,500 square feet on the ground floor and another 1,500 square feet of lower-level basement space—in early November. Asking rent in the deal was $360 per square foot, according to sources with knowledge of the deal. NKF’s Ross Kaplan and Derek Koelsch represented Venchi in negotiations, while landlord Transworld Equities had no outside broker representation.