Lease Beat

Kosher Restaurant La Brochette Signs 10-Year Lease With Plans to Gut Renovate Murray Hill Restaurant Space

Grill

La Brochette, a new kosher steakhouse and restaurant, is coming to Murray Hill, The Commercial Observer has learned.

The tenant has signed a 10-year, 4,680-square-foot lease at 340 Lexington Avenue, where the restaurant takes the place of former kosher steakhouse La Carne Grille, which occupied the property for years and was a go-to hangout for the kosher-eating community.

The restaurant is slated to open its doors in the spring of 2013, said Christopher Okada of Okada & Company, who represented the tenant (Francis Leung, also with Okada & Company, represented the landlord). Read More

Sales Beat

10 Maiden Lane Snapped up for $7.1 Million by Chinese Syndicate

10-12 Maiden Lane (photo courtesy of Property Shark)

A Financial District building has been purchased for $7.1 million by a syndication of local Chinese buyers, who will turn the mixed-used property into a new hotel development, it was announced today.

The new owners of 10-12 Maiden Lane will develop the 13,709-square-foot property into a 49,000-square-foot limited-service hotel “as soon as possible,” said Chris Okada, president and CEO of Okada Properties, which represented the buyers in the deal. Read More