Lease Beat

Vanguard Wine Bar Opens in Kips Bay After Signing 12-Year Lease

Vanguard Wine Bar has signed a 12-year lease for an 850-square-foot space at 530 Second Avenue in Kips Bay, between East 29th and East 30th Streets, The Commercial Observer has learned.

The bar and restaurant, which features a full liquor license and menu, quietly opened its doors late last week to friends and family.

shutterstock wine Vanguard Wine Bar Opens in Kips Bay After Signing 12 Year Lease

(Shutterstock.com/Christian Delbert)

“There was a great opportunity in Kips Bay’s restaurant scene for an establishment like Vanguard Wine Bar,” said Dean Valentino of ABS Partners Real Estate, who represented the tenant along with Jay Einbender and Mark Tergesen, all managing directors.  “It was designed to offer patrons a truly differentiated and international food experience that provides an alternative to the bars and pubs that are prevalent in this area.”

Ownership looks to capitalize on the foot traffic in the neighborhood, boosted by the nearby AMC Loews at 570 Second Avenue, and now the recent opening of Fairway Market’s newest location at 550 Second Avenue, Mr. Valentino told The Commercial Observer.

“The location was their key there,” Mr. Valentino said.  “They felt they would be able to establish a niche there because of the fact that there isn’t anything like that in the area… this is a nice comfortable neighborhood place, with a local feel that’s far and away from the chain restaurants.”

The 850-square-foot property is a solo venture by Stefan Mailvaganam, who is co-owner of Bar Carrera in Greenwich Village and Custom American Wine Bar in Williamsburg.   A renovation transformed the space from an “old, worn out pizza shop,” to a darkened, quaint ambiance featuring rich, dark woods.

The wine bar will serve a variety of old and new French and American wines.  The menu, created by Soa Davies (formerly of Le Bernardin), features a variety of small-plates, highlighting cuisine from the two countries and meant to complement the wines.

“The chef has created a nice, detailed little menu for them – this is more than just wine and cheese,” Mr. Valentino said.

Ann La Centra and Josh Siegelman from Winick Realty Group represented the landlord.

“It’s a great addition to the neighborhood and it will bring new life to the space,” Mr. Siegelman said.

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