Lease Beat

Boston Market Signs Lease at Bronx Triangle Plaza Hub

Rendering of Triangle Plaza Hub.

Boston Market chicken restaurant chain signed a lease this week for 2,600 square feet on the ground floor at the Triangle Plaza Hub in the Bronx, Lester Petracca, the president of Triangle Equities, told Commercial Observer.

The asking rent in the Triangle Equities project was $75 per square foot and the lease was for 10 years, with an option to extend, a spokesman for Triangle Equities indicated. Read More

The Vultures

Max Brenner, Others Zero In on Vacant Crumbs Shops

1379 Third Avenue. (Crumbs Bake Shop website)

In less than 24 hours since news broke about the closure of Crumbs Bake Shop‘s chain of stores, retail brokers and tenants have been jockeying to get in on the cupcake joint’s real estate. One such brand that is hoping to land some of Crumbs’ locations is chocolatier Max Brenner.

“Max Brenner is interested in a number of Crumbs locations within its current markets of Washington D.C., Philadelphia, New York City and Boston,” Sam Borgese, CEO of Max Brenner International, said in a statement provided to Commercial Observer. “We are specifically looking at location sizes that fit our pure chocolate bar concept.” Read More

Lease Beat

Egg Sandwich Shop Slated for Nolita

151 Elizabeth Street.

A restaurant serving up classic and creative versions of egg sandwiches will be opening in Nolita, Commercial Observer has learned.

Egg Shop signed a 10-year lease for a 600-square-foot ground-floor space at 151 Elizabeth Street, which abuts the Nolitan Hotel, at 30 Kenmare Street. The asking rent was $6,400 per month plus $300,000 in key money. Read More

Lease Beat

Patsy’s Pizzeria is Coming to Brooklyn

450 Dean Street.

Manhattan’s Patsy’s Pizzeria has signed a lease to open its first location in Brooklyn, and it’s across the street from the Barclays Center.

The pizzeria, known for its iconic “old world” style pizza, took 1,400 square feet at 450 Dean Street between Flatbush and Fifth Avenues, in Park Slope, TerraCRG announced. Read More

New Developments

MTA Plans Grand Central Food Hall with Noma Co-Founder

Grand Central Terminal.

The Metropolitan Transportation Authority will consider a proposal for a 16,000-square-foot food hall inside Grand Central Terminal operated by Claus Meyer, a co-founder of the renowned Noma restaurant in Copenhagen, Denmark.

The proposal calls for a food hall in the western half of Grand Central’s Vanderbilt Hall, as well as a 100-seat Nordic restaurant in an adjoining space, according to an announcement made earlier today.  Read More

Lease Beat

Coffee Purveyor From Greece Heading to Village

30 Carmine Street.

European-influenced café and coffee bar Maza Loukouma and Espresso Bar is planning to enter the U.S. market via the Greenwich Village.

Maza signed a 10-year lease for 500 square feet on the ground floor, plus a basement for storage, at 30 Carmine Street between Bleecker and Bedford Streets. The asking rent was $300 per square foot, Eastern Consolidated said. The firm’s James Famularo and Ravi Idnani represented the landlord, 30 Carmine St. LLC, in the deal. CORE‘s Leora Aimee Hasas and John Harrison represented Maza. Read More

Lease Beat

Sweetgreen Signs Lease at 100 Kenmare Street [Updated]


SCG Retail has brokered a 10-year, 2,400-square-foot lease for health food chain Sweetgreen at 100 Kenmare Street, Commercial Observer has learned.

The Nolita quick-service eatery’s newest restaurant is scheduled to open this fall, and marks the chain’s fourth location in New York City. Sweetgreen’s New York entry strategy, in partnership with SCG, has been in the works since 2012, according to Taryn Brandes, a retail broker at SCG that is part of the team representing Sweetgreen. Read More

Lease Beat

Doughnut Plant Bringing Square-Filled Doughnuts to Prospect Heights [Updated]

245 Flatbush Avenue.

Doughnut Plant Brooklyn will be serving up crème brûlée and square-filled doughnuts in Prospect Heights come October. The company announced that it signed a deal last week with Noam Management for the 900-square-foot ground-floor space.

The new shop, which has about 60 feet of frontage on Flatbush Avenue, will take the space formerly occupied by Mexican restaurant Yummy Taco at 245 Flatbush Avenue between Bergen Street and Sixth Avenue. Read More

Sales Beat

Williamsburg Home to Output Dance Club Trades Hands for $7.4M

Output at 74 Wythe Avenue.

The northside Williamsburg building that houses Output nightclub sold last Thursday for $7.4 million, Commercial Observer has learned.

The club is expected to “continue normal operations as per a long term lease that is in place,” said Jacob Sacks, one of the two principals of Cayuga Capital Management, which sold the building with capital partner, Latus Partners. The buyer is a New York City-based family with extensive real estate holdings, Mr. Sacks said, declining to get more specific. Read More

Cool Treats

First Manhattan Dairy Queen Opens Today

DQ NYC 14th Street. (Facebook)

After a slight delay, the first Manhattan Dairy Queen will open today at 10 a.m., according to an announcement by the Berkshire Hathaway-owned company. The 54 West 14th Street location had originally been scheduled to open on May 27, as Commercial Observer previously reported.

“Our fans have been requesting that we open in Manhattan so we are thrilled to finally be here. We invite everyone to celebrate with us today and enjoy DQ signature treats and our full food menu,” said John Gainor, the president and chief executive of International Dairy Queen, in a prepared statement. Read More

Lease Beat

Sugar Factory Signs Sweet Deal at Barclays Center

Barclays Center.

Come September, Barclays Center will be home to New York City’s second Sugar Factory. The Las Vegas-based cafe and sweetery chain signed a lease on May 15 for 4,000 square feet on the ground floor of the arena, Commercial Observer has learned.

The asking rent in the 15-year deal at the major sports and entertainment venue, at 620 Atlantic Avenue, was $200 per foot, a source with knowledge of the deal said. Read More

Food & Drink

Smashburger Expands Franchise Agreements in Manhattan, Queens

Classic Smash. (Smashburger)

Smashburger has expanded its agreements with franchisees in both Manhattan and Queens, the company announced yesterday. The agreements call for a total of 14 new restaurant locations in New York City.

The Denver-based fast-casual burger chain has expanded its agreement with Smash Partners to open 10 new restaurants in Manhattan. As reported by Commercial Observer, Smash Partners signed a 5,432-square-foot lease for the first Smashburger location in Manhattan earlier this year. The restaurant, which is located at 10 West 33rd Street, opened last month. Read More

Mortgage Observer

Delshah Refinances UES Home of Petaluma

1356 First Avenue. (PropertyShark)

Santander Bank has provided an $11.5 million loan to Delshah Capital to refinance existing debt on the mixed-use property at 1356 First Avenue on the Upper East Side, Mortgage Observer has learned. The seven-year loan carries a rate of 4.05 percent.

The refinancing will allow Delshah to pursue buyouts of rent stabilized tenants in the building and explore the possibility of developing additional floors based on the property’s unused air rights, according to a statement by Michael Shah, the principal of Delshah Capital. Read More

Lease Beat

Anderson Cooper’s BF Snags W’burg Spot for Bar, Eatery

Anderson Cooper, left, and Antoine “Benjamin” Maisini. (Just Jared)

CNN anchor Anderson Cooper‘s long-time boyfriend Antoine “Benjamin” Maisani is opening a fourth New York City gay bar, this time in Williamsburg, Commercial Observer has learned.

Mr. Maisani, business partner Pablo Raimondi, and Chris Canon are partnering to open the new bar and restaurant at 617 Grand Street near Leonard Street, apparently to cater to the Williamsburg clientele. They took over the space occupied by Ooba restaurant, lounge and bar and the location is currently under construction. Read More