Schnipper’s Signs Lease at 570 Lexington
Schnipper’s Quality Kitchen has signed a lease to occupy 3,021 square feet of ground level retail and storage space at 570 Lexington Avenue, The Feil Organization announced today, confirming previous published reports that the fast-casual restaurant was eyeing the space.
Known for its burgers, fries, shakes and other old-fashioned American-style offerings, the restaurant will open in the fourth quarter of 2013, joining upscale restaurant Mr. K’s at the property.
“We wanted a tenant that would be an amenity for the building and the area,” said Brian Feil, VP of Leasing at the firm, in a statement. “There are not a lot of fast-casual restaurants in the area and Schnipper’s will be perfectly situated to serve this prestigious Lexington Avenue corporate corridor.”
Winick Realty Group President Steven Baker represented the restaurant, where asking rents were $300 per square foot.
“We are very happy to be part of Schnipper’s Quality Kitchen’s New York expansion,” Mr. Baker said in the statement. “They are a quality tenant who will be an excellent addition to the neighborhood.”
Mr. Baker did not return calls seeking comment in time for publication and Mr. Feil could not be reached for immediate comment.
Created by Hale & Hearty founders Andrew and Jonathan Schnipper, Schnipper’s Quality Kitchen features traditional American fare, including burgers, salads, tacos, wraps and milk shakes.
The 50-story, 450,622-square-foot art deco building owned and managed by The Feil Organization features a signature tower with a crown of limestone Gothic spires and brickwork accented with filigree decoration and lightning bolt motifs.
When it was designed in 1931 (completed in 1932) by Cross and Cross, the property was known as the RCA Building, and the crown sought to depict the electricity of the now defunct Radio Corporation of America’s (RCA) radio waves.
Neighborhood attractions include the Waldorf-Astoria, MetLife Building, Rockefeller Center, St. Patrick’s Cathedral and St. Bartholomew’s Church.
Construction and insurance litigation firm Fabiani Cohen & Hall LLP signed a renewal and expansion for 24,000 square feet of space at the building in January, as reported in The Commercial Observer.