10/11/2011 03:36 pm ET | Updated Dec 11, 2011

IHOP To Take Space In Chelsea's Limelight: The Real Deal

In an unconventional move raising eyebrows among retail brokers, the affordably-priced pancake restaurant IHOP is moving to Ashkenazy Acquisition's Limelight Marketplace, the former church and nightclub at 656 Sixth Avenue in Chelsea, a spokesperson for Ashkenazy told The Real Deal.

The announcement comes only weeks after an IHOP opened at 235 East 14th Street, between Second and Third avenues. That location is now projected to be among the top three grossing stores per square foot in the nation, Ashkenazy's spokesperson, Ronn Torossian, said.