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Category ArchiveFood & Drink

Owners of ForGround Opening ‘High-End All-Day Café’ in Tribeca

The folks behind ForGround café in Midtown are opening a 1,234-square-foot ground-floor café at 112 Hudson Street in Tribeca, Commercial Observer has learned. An 832-square-foot basement space will be used for kitchen prep, storage and an office, according to Eastern Consolidated’s James Famularo who represented the landlord, Hudson Street Retail, with Eastern’s Clayton Traynham.

This will be “a first location from the same owner as ForGround, rather the a second ForGround location,” noted George Wlodarczyk of Douglas Elliman. Called Noted Tribeca, the new venue will be a “high-end all-day café and cocktail bar,” he said. Wlodarczyk along with Elliman’s Peter Gross represented the tenant in the deal.

ForGround is a café at 8 East 41st Street with ground coffee and a farm-to-table menu.

The asking rent in the 10-year deal was $150 per square foot, according to Famularo and the marketing materials for the property, which is between North Moore and Franklin Streets. The tenant will open in the next three or four months, Famularo said.

This is the second tenant the landlords’ brokers nailed down in the space within a six-month period.

“The space had sat empty since the new owners bought the retail condo from Robert De Niro five years ago, but within six months my team brought two tenants,” Famularo said in prepared remarks. He originally arranged a lease with Le Du’s Wines, but the wine shop’s relocation wasn’t approved by the New York State Liquor Authority last fall. The café deal was signed last Thursday.

Source: commercial

Cheezus: Artisanal Is Not Returning to Park Avenue (South)

Artisanal Fromagerie Bistro, which filed for bankruptcy in March 2017 shortly before it was slated to open at its new home on Park Avenue South, is no longer bowing.

Its 10,550-square-foot TF Cornerstone space (7,550 square feet at grade and 3,000 square feet—usable—in the basement) at the base of the 12-story office building at 387 Park Avenue South is now back on the market with an asking rent of $225 per square foot, a spokeswoman for the landlord told Commercial Observer. She declined to respond to questions about Artisanal but signage for the bistro was dismantled recently.

Winick Realty Group’s Aaron Fishbein, who is the broker for the retail space at the 215,000-square-foot building along with colleague Steven Baker, said they got possession of the Artisanal space in the beginning of January. He, too, declined to talk about Artisanal except to say that Barry’s Bootcamp took 4,600 square feet of the 12,150-square-foot ground-floor space and Artisanal took the balance of it, as well as the basement.

In February 2015, the landlord of 2 Park Avenue, Morgan Stanley, decided not to renew Artisanal’s lease, the same month Artisanal formed a new ownership entity with Artisanal owner Stephanie Schulman, who is romantically linked to the previous owner Vincent S. Bonfittodrory, a.k.a. Sarid Drory. As CO reported in November 2015, Artisanal signed a lease to relocate to 285 PAS from 2 Park Avenue.

The cheese-focused brasserie was initially going to open in the new digs on Park Avenue South between East 27th and East 28th Streets in summer 2016. The company filed for Chapter 11 bankruptcy in August 2016 and then again in March 2017. The latter one—in which Artisanal allegedly owes its former landlord over $3 million for unpaid rent, etc.—is still ongoing. The summer 2016 opening date got delayed to June 2017, and those plans have faded away. Meanwhile, Artisanal’s website doesn’t reflect a change in plans.

“Their plan to leave all their liabilities with the old entity did not work,” weighed in Adam Stein-Sapir, a co-managing partner of Pioneer Funding Group, which specializes in analyzing and investing in bankruptcy cases, and who is not involved in the case. “Also because of the controversy over the first filing they may have had trouble raising new money to open the second restaurant.”

The developer acquired the pre-war building in 2005 and gave it a makeover in early 2015, including a glass facade from the base to the third floor, and renovations to the lobby, elevators and roof deck featuring a glass penthouse.

A. Mitchell Greene of Robinson Brog Leinwand Greene Genovese & Gluck, the attorney for the eatery during the March 2017 bankruptcy, didn’t respond to requests for comment.

Source: commercial

Van Leeuwen Artisan Ice Cream Scoops Up Soho Space

Van Leeuwen Artisan Ice Cream will be serving its ice cream in Soho, its first location in the Manhattan neighborhood, Commercial Observer has learned.

The ice cream company, which started in spring 2008 out of a truck on the streets of New York City, has leased 542 square feet at 145 Greene Street, also known as 160 Wooster Street, at the corner of Wooster and Houston Streets, according to Avi Akiva, a retail specialist at Kassin Sabbagh Realty. The lease is for 10 years and the asking rent was $500 per square foot, he said.

Van Leeuwen will occupy part of Ashkenazy Acquisition Corporation’s retail condominium at the building, which the investment firm acquired in October 2013 for $9.9 million. Akiva negotiated the deal for both sides, aided by Ashkenazy’s Daniel Iwanicki in-house.

“They’re one of the best ice creams around and they have a good following,” Akiva said. Van Leeuwen liked the location, the aesthetic of the building and the 30 feet of frontage on Houston Street, he added.

Upstairs are 18 residential condo units, according to CoStar Group.

Van Leeuwen has stores and trucks in the city as well as in Los Angeles, and sells its ice cream—made from scratch in Greenpoint, Brooklyn—in grocery stores.

Iwanicki didn’t respond to a request for comment and nor did anyone from Van Leeuwen.

Source: commercial

Irish Bar Tailor’s Inn Opening 13K-SF Joint in Garment District

Tailor’s Inn, a new Irish restaurant and bar concept, will be taking 12,700 square feet at GFP Real Estate’s 505 Eighth Avenue, Commercial Observer.  

The owner of the establishment signed a lease to occupy a 2,100-square-foot section of the ground floor, 1,400 square feet in the basement and 9,200 square feet on the mezzanine level of the 25-story building, located on the corner of West 35th Street. It will open in the next few weeks, the landlord confirmed to CO. The terms of the deal were not immediately clear.

Allen Gurevich of GFP (formerly known as Newmark Holdings) handed the deal for the developer and the property manager.

CO could not immediately reach the owner of Tailor’s Inn and the bar did not have a broker in the transaction.

Another recent deal at the building, Jumpstart for Young Children, a national education nonprofit, renewed and expanded its space. The organization signed a 4,632-square-foot lease for a part of the third floor, moving from a 3,500-square-foot space on the 11th floor. Gurevich, who was the only broker in this deal as well, represented the landlord in-house.

“We are delighted that Tailor’s Inn and Jumpstart for Young Children are part of our strong tenant mix at 505 Eighth Avenue,” Gurevich said in a prepared statement. “It’s not surprising to see this kind of leasing momentum at the well-located property [which] offers a host of tenant amenities.”

Other existing tenants in the 275,000-square-foot building, which was built in 1926, include nonprofit Cicatelli Associates, management and consulting firm Greystone Management Solutions and Biddle Sawyer Corporation, a supplier of chemical products.  

Source: commercial

Café Metro Opening Newest Manhattan Location in Garment District [Updated]

Fast-casual restaurant chain Café Metro will open its newest New York City location at 240-246 West 35th Street in the Garment District, where it has agreed to take 5,181 square feet of ground-floor retail space, Commercial Observer has learned.

Café Metro signed a 12-year lease last month for the location at the base of the 18-story, 165,000-square-foot building between Seventh and Eighth Avenues, according to sources with knowledge of the deal. The new eatery is expected to open next month.

Asking rent in the deal was $140 per square foot, sources said. John Cinosky of ATCO Brokerage Services represented the landlord, ATCO Properties & Management, while Stu Morden and Lucas Kooyman of Newmark Knight Frank represented the tenant.

Neil Adamson, ATCO’s chief investment officer, said in a statement that the new Café Metro’s “close proximity to Penn Station and the 34th Street/Herald Square subway terminal make it an ideal location for our tenants, visitors and on-the-go commuters.” A spokesman for NKF did not immediately return a request for comment.

Café Metro is owned by ST Management, which also operates fast-casual brands Fresh&Co and Flavors. Between the three chains, the new Garment District eatery will be the restaurant group’s 20th Manhattan location and its 21st in the city overall (including a Café Metro at MetroTech Center in Downtown Brooklyn).

ATCO acquired 240-246 West 35th Street from Robert Weisz’s RPW Group for $108 million in December 2016. The landlord subsequently completed capital improvements to the building that included a lobby renovation, common corridor upgrades and sidewalk improvements, and is currently at work on upgrading its elevators.

Other tenants at the property include the Newsday-owned free daily newspaper amNewYork, foreign language school Spanish-American Institute, fashion designer Jason Wu, fashion and eyewear design Thom Browne and bridal designer Reem.

Update: A previous version of this article incorrectly identified the new Café Metro at 240-246 West 35th Street as the fast-casual chain’s 20th Manhattan location. It is actually restaurant owner ST Management’s 20th Manhattan location between its Café Metro, Fresh&Co and Flavors fast-casual brands.

Source: commercial

Deli, Pizza Joint Ink Deals at TF Cornerstone’s DoBro Rental

A convenience store (in two leases) and a restaurant will take more than 4,500 square feet at TF Cornerstone’s new 714 unit rental project in Downtown Brooklyn at 33 Bond Street, Commercial Observer has learned.  

Dépanneur, a Brooklyn-based store that calls itself a “better bodega,” has signed two leases at 300 Livingston Street (the retail portion of 33 Bond Street) for two separate ground-floor spaces, according to Winick Realty Group.

The larger of the spaces, which is 1,820 square feet, will be an upscale “corner store” similar to the ones the company has in Williamsburg at 242 Wythe Avenue at North 3rd Street and in Clinton Hill at 519 Myrtle Avenue at the corner of Grand Avenue.

Dépanneur’s second space at 300 Livingston Street will encompass 1,051 square feet, and there it is working on a new concept, according to a Winick spokeswoman.

Both Dépanneur deals are for 15 years and the stores are expected to open in the second quarter of 2018. The asking rent in the deals was $125 per square foot.

Winick’s Steven Baker, Aaron Fishbein and Daniyel Cohen handled the deals for the landlord alongside TF Cornerstone’s Steve Gonzalez in-house. Ripco Real Estate’s Andrew Clemens and Ben Weiner, who represented Dépanneur in the deals, did not immediately respond to a request for comment.

In addition to the transactions with Dépanneur, fast-casual pizza restaurant Simó Pizza has signed a 10-year deal for a 1,633-square-foot space on the ground floor of 300 Livingston Street. Simó Pizza, created by Italian chef and restaurateur Simone Falco, did not have a broker in the deal. It is also expected to open in the second quarter of 2018. The asking rent was $125 per square foot as well.

“Dépanneur and Simó Pizza are ideal tenants for the unique retail mix we’re in the process of curating at… 33 Bond Street,” Baker in a prepared statement. “From a strategy standpoint, the retailers we’ve secured leases for represent the best possible value to the neighborhood. Additionally, they offer residents of 33 Bond with an amenity that positively contributes to their active lifestyles.”

Simó Pizza and the Dépanneur stores will join a 52,000-square-foot fitness concept by Chelsea Piers, which signed a lease at 33 Bond Street in July, as CO previously reported.

Source: commercial

David Chang Opening a Fuku in Brookfield Place After Tapping New Chef for Brand

Momofuku chef and restaurateur David Chang is bringing his fast-casual fried chicken chain Fuku to Brookfield Place, Commercial Observer has learned. The opening comes a month after the appointment of Stephanie Abrams, most recently a co-executive chef at Rotisserie Georgette in Manhattan, as the new chef for the Fuku brand.

In early December, Fuku will open in the food hall Hudson Eats, taking space formerly occupied by Little Muenster, according to a spokesman for the property’s landlord, Brookfield Property Partners.

Chang signed a seven-year deal for 672 square feet in the food hall at 200 Vesey Street between West Street and North End Avenue. Brookfield declined to provide the asking rent. This is Fuku’s fourth storefront in the city.

“We first opened Fuku as a fried chicken sandwich shop in the East Village in a space that has served as Momofuku’s unofficial incubator,” Chang said in prepared remarks. “It housed the original [Momofuku] Noodle Bar and [Momofuku] Ko before Fuku. At the time of opening, I don’t think we knew that Fuku would be a concept we would grow beyond that first storefront. Since then, we’ve opened a few more locations, including at major sports arenas. When the opportunity to join Hudson Eats at Brookfield Place, we knew that we wanted to be a part of the collection.”

hudson eats inside brookfield place photo brookfield property partners David Chang Opening a Fuku in Brookfield Place After Tapping New Chef for Brand
Inside Hudson Eats in Brookfield Place. Photo: Brookfield Property Partners

RKF’s Spencer Levy represented Chang in the deal and Michael Goldban and Mark Kostic worked on behalf of Brookfield in-house.

“Hudson Eats continues to evolve and keep things fresh and interesting for the community,” Kostic said in a statement. “We are excited to welcome David Chang to the property and have every confidence that our visitors will be as impressed as we are with his offerings.”

Little Muenster opened in Hudson Eats in June 2014, and closed this summer after Brookfield let the company out of its lease, the Brookfield spokesman said. A representative for Little Muenster didn’t immediately respond to a request for comment.

This summer, the third—and largest—Fuku opened at 110 Wall Street, serving a wider menu with salad and bowls.

The two Downtown Fuku’s won’t cannibalize each other, the brand’s broker said.

“It really just made sense,” Levy said in a statement. “Augmenting the already successful food hall at Brookfield Place with a brand equally as popular as Fuku is a win-win for everyone. In terms of locations, every Fuku has a unique twist and 110 Wall Street and Brookfield are really in two distinctly different markets with a different customer base. Hey, now Fuku has views of both rivers!”

The menu at Hudson Eats Fuku will be similar to the one on Wall Street, changing with the seasons, a spokeswoman for Chang said.

“Fuku was started with a menu of only three food menu items, but we’ve learned that our guests want options for every day of the week—not just spicy fried chicken sandwiches,” Chang stated. “As the concept continues to expand, I’m excited to have [Abrams] on board to lead the culinary team and bring new ideas and flavors to Fuku.”

Chang’s brands are proliferating the city. Last month, he signed a lease for a 4,000-square-foot Momofuku Noodle Bar on the third floor of the Time Warner Center.

Source: commercial

Apple Orchard Owner to Open Craft Beer-Inspired Taproom in Crown Heights

An owner of the seventh-generation Wilklow Orchards, an apple orchard located in Highland, N.Y. since 1855, has signed a deal in Brooklyn for its first hard cider-based taproom in the Big Apple, Commercial Observer can first report.

Albert Wilklow, an heir of the 200-acre orchard, inked a 1,100-square-foot retail space on the ground floor of 585 Franklin Avenue between Pacific Street and Atlantic Avenue in Crown Heights for Bad Seed Cider Company.

Bad Seed Cider will have 20 rotating taps, servicing cider made with apples from the more than 150-year-old farm, and other craft beverages from the Hudson Valley region area. It will also offer baked goods and artisanal cheeses. The asking rent in the 10-year deal was about $65 per square foot.

“Franklin Avenue in Crown Heights is a really strong, exciting destination and strip now for a lot of new concepts,” Peter Schubert of TerraCRG, who represented Bad Seed in the lease, told CO. “A lot of new concepts are being tested with success.”

5bs Apple Orchard Owner to Open Craft Beer Inspired Taproom in Crown Heights
Inside of the Bad Seed Cider Brooklyn location. Photo: TerraCRG

Tri State Commercial Realty’s Jeremy Nowak and Shlomi Bagdadi handled the deal for the landlord, 585 F, LLC. Nowak and Bagdadi did not immediately return a request for comment.

The cider will be produce upstate and served, along with food, at the taproom. Bad Seed Cider, which has its original taproom at the orchard, will sell exclusive flavors at the Brooklyn site and classic ones, such as ginger cider and India pale cider.

Wilklow chose to open the first New York City taproom in Brooklyn because the family started retailing their apples at local markets in the borough in the 1980s. Thanks to that effort the farm—which had previously been wholesale only—was able to stay afloat.

“I always joked that Brooklyn was my second home because I was there two days a week growing up,” Wilklow said. “You can sell more apples on a street corner in Brooklyn than in Highland in a week. By doing that the farm really turned around.”

As for selecting Crown Heights, the neighborhood is close to one of the farmers’ markets, Fort Greene Park Greenmarket, where the orchard sells its apples.

In addition to Fort Greene Park Greenmarket, the Wilklow Orchards sells its produce at Grand Army Plaza Greenmarket and at the Staten Island Ferry Whitehall Terminal Greenmarket in the Financial District.

Wilklow and his childhood friend and business partner Devin Britton started Bad Seed Cider four years ago because turning apples into cider allows them to sell more merchandise over a longer period of time.

“Doing farmers’ markets and selling fresh produce that we do, there is a lot of risk involved” because the apples rot after a while, Wilklow said. “The type of cider that we make it’s a lot like making wine. You can package it and a year later it will only be better. It’s not going to go bad on you.”

Source: commercial

What Does Chick-fil-A Have Cooking for Its 12K-SF, Five-Story FiDi Eatery?

Next year, Chick-fil-A will be opening its third restaurant in Manhattan—the company’s largest-ever and the first one outside of Midtown. The lease was signed in 2016, but the company has announced details about the new digs this week.

The 15-foot wide fried chicken chain’s restaurant will span the entire 12,000-square-foot building at 144 Fulton Street between Broadway and Nassau Street. Three of the floors are for dining, seating 140 people, and two are for food preparation, according to a press release. The first through fourth floors will be connected by a staircase.

chick fil a 3 What Does Chick fil A Have Cooking for Its 12K SF, Five Story FiDi Eatery?
Rendering of the new Chick-fil-A at 144 Fulton Street. Image: Chick-fil-A

Some of the eatery’s features include a rooftop terrace, the second-ever at a Chick-fil-A, natural light via skylight and floor-to-ceiling windows on each level. (Only three of the company’s 2,100-plus U.S. restaurants boast skylights.)

“There were a couple things benefiting us—first, there’s an open courtyard behind the building, and second, we have no tenants upstairs,” Nathaniel Cates, the design manager for restaurant development at Chick-fil-A, said in prepared remarks. “We took advantage of the courtyard by adding a large window in the back of the restaurant, and since Chick-fil-A has the whole building, we brought in natural light through a skylight.”

chick fil a 2 What Does Chick fil A Have Cooking for Its 12K SF, Five Story FiDi Eatery?
Rendering of the new Chick-fil-A at 144 Fulton Street. Image: Chick-fil-A

There will be a semi-private section for group trainings and meetings. And because of its close proximity to the World Trade Center site, the designers “drew designs for the front of the building to be stacked fully with glass windows, with elements built into the façade that give a subtle impression of the Twin Towers—one on each side of the restaurant,” the company said in the release.

Crown Acquisitions acquired the retail building at 144 Fulton Street, which sits next door to the Fulton Center, for $25 million in late July 2015, as Commercial Observer previously reported. At the time, it housed a souvenir store.

chick fil a 4 What Does Chick fil A Have Cooking for Its 12K SF, Five Story FiDi Eatery?
Rendering of the rooftop of the new Chick-fil-A at 144 Fulton Street. Image: Chick-fil-A

Chick-fil-A is a relative newcomer to New York City. Last April, Chick-fil-A opened its second standalone and franchisee-run eatery at 1180 Avenue of the Americas at West 46th Street, just nine blocks north of its first one in the city. That one opened in October 2015 at 1000 Avenue of the Americas at West 36th Street. The company has plans to have around 20 locations in New York City, as CO has reported.

Source: commercial

Shake Shack to Open 27K-SF HQ and Flagship Restaurant in the West Village

How about a new office with those fries?

Burgers, fries and shakes joint Shake Shack has signed a 27,000-square-foot lease for a new headquarters and flagship restaurant at 225 Varick Street in the West Village, according to a news release from Cushman & Wakefield.

burgers Shake Shack to Open 27K SF HQ and Flagship Restaurant in the West Village
Shake Shack burgers.

The new digs, at the building between Clarkson and West Houston Streets, will feature a test kitchen, according to the release. A C&W spokeswoman declined to disclose the asking rent in the 15-year deal.

Shake Shack’s test kitchen and training center will be in the lower level, the restaurant will occupy a portion of the ground floor and the offices will be on part of the third floor. It plans to relocate its headquarters from its current 10,066-square-foot digs at 24 Union Square East between East 15th and East 16th Streets in spring 2018. The new restaurant will open in mid-2018.

“Shake Shack selected a high-visibility, flexible, moderately priced location and space, with an innovative and talented ownership team to grow its global business,” Mark Weiss of C&W, who represented Shake Shack, said in a prepared statement.

A CBRE team led by Paul Amrich handled the deal for Trinity Hudson Holdings, the landlord of the property. A spokeswoman for CBRE didn’t not immediately return a request for comment.

primaryphoto19 Shake Shack to Open 27K SF HQ and Flagship Restaurant in the West Village
225 Varick Street. Photo: CoStar Group

The first Shake Shack opened as a permanent kiosk in Madison Square Park in 2004. Today there are 134 Shake Shacks around the world, 75 of which are company-owned and 59 that are licensed, according to the company’s second-quarter earnings report made public in August.

The burger chain became a public company in January 2015 with Meyer as its chairman of its board.  The company’s stock price is currently around $32, higher than its initial public offering price of $21 per stock. Revenue in the second quarter of 2017 surged 37.4 percent to $91.3 million, compared with the same three months last year when it was $66.5 million.

At the 376,749-square-foot building at 225 Varick Street, Shake Shack will join existing office tenants such as the National Audubon Society and Workman Publishing.

Source: commercial