Barbecue to Marry Beer in New York Observer Building
What goes good with beer? Barbecue, we’re guessing (and hoping). Hell, we’ll make it work
The New York Observer Building at 321 West 44th Street will welcome the second of two new commercial tenants with the signing last week of a Japanese Barbeque restaurant at its base.
Gyu-Kaku, a chain with more than 200 locations across the globe and two other spots in Manhattan, has inked a 15-year, 5,000-square-foot transaction for ground-floor and basement space at the Kushner Companies-owned building, brokers for Winick Realty told The Commercial Observer. The asking rent on the space was $75 a square foot annually.
The transaction near Eighth Avenue comes on the heels of another deal in May that put the New York Beer Company in the same building, meaning a pub this fall. Winick also arranged that deal.
Lori Shabtai, Kelly Gedinsky and Monica Kass of Winick represented Kushner Companies in the deal while Fuminori Yokoyama, an independent agent, represented Gyu-Kaku in the transaction. (Jared Kushner, a principal at the landlord, owns The Observer.)
“Activity is really moving west with all the new residential development, and there has been consistent foot traffic at this space,” Ms. Gedinsky said. “And, plus, who doesn’t want to be at the base of The Observer?”