Lease Beat

Shake Shack Takes (Second) Bite Out of Midtown East

Shake Shack burgersBurger chain phenom Danny Meyer is opening a second Shake Shack in the Grand Central area.

The burger joint will open in the 4,774-square-foot, ground- and lower-level spaces formerly occupied by Qdoba Mexican Grill at 600 Third Avenue, between 39th and 40th Streets, in a 15-year lease. The eatery is slated to open in the fall. 

The other Shake Shack in the neighborhood opened late last year inside Grand Central Terminal’s dining concourse.

Established in Madison Square Park in 2004, the casual burger restaurant has locations on the Upper East Side, Upper West Side, Battery Park City, and at Citi Field and JFK Airport. Shake Shack is expected to open a third Brooklyn location at Two Trees’ One Old Fulton Street in Dumbo in the middle of this year, Commercial Observer reported. 

Andrew Goldberg and Matthew Chmielecki of CBRE represented Shake Shack in the deal at 600 Third Avenue, and Andrew Wiener and David Berkey of L&L Holding Company, which owns the building, represented the landlord. Shake Shack declined to provide rents, but sources said that retail rents in the area range from $250 to $400 a square foot.

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