Peter Cancro, the owner and CEO of Jersey Mike’s Subs — a submarine sandwich franchise with 750 stores nationwide including two in Manhattan — purchased a condominium home at the Marquand for $15.7 million, according to city records filed today.
Cancro nabbed a 3,838-sqaure-foot unit with four bedrooms, five full bathrooms and one half bath. Located at 11 East 68th Street, the home has 10-foot ceilings, a bay window and fireplace in the master suite and a private elevator, according to the listing.
There’s another fireplace in the living room that’s sculpted out of Travertine marble.
Madeline Hult Elghanayan and Sabrina Saltiel of Douglas Elliman had the listing for the spread, which hit the market last October asking $15.4 million. A spokesperson for the brokerage did not immediately comment on the transaction.
Jersey Mike’s offers a selection of hot and cold subs, such as the Jersey Shore’s Favorite with provolone, ham and cappacuolo and Philly cheesesteaks.
The company is based in Manasquan, New Jersey. The original Mike’s was founded in 1956 as a neighborhood sandwich joint in Point Pleasant, New Jersey. Cancro, who grew up in Point Pleasant and worked at this location part-time, bought the store for $125,000 in 1975 during his senior year of high school.
A Jersey Mike’s spokesperson did not immediately respond to a message seeking comment. — Zachary Kussin