The NoMad area will be getting a high-end Kosher steakhouse come the beginning of next year, Commercial Observer has learned.
JTRE Holdings has leased to Prime & Wine Kosher Steakhouse a 6,000-square-foot retail condominium unit at 31 East 28th Street, 4,000 square feet of which is on the ground floor and 2,000 of which is below grade. The asking rent in the 15-year deal was $500,000 per year triple-net.
Jackie Roc-Murphy of Lee & Associates represented the restaurant in the deal. She didn’t immediately respond to a request for comment. Ephraim Setton and Ricky Braha of JTRE represented the landlord in-house.
“After an extensive search and many inquiries from prospective high-end restaurants, we decided to go with Prime & Wine because of their experience and the need for a high-end Kosher Steakhouse in this emerging NoMad/Midtown South neighborhood,” Mr. Setton said in prepared remarks.
JTRE bought the condo, which is between Park and Madison Avenues, in May for $4.2 million. Now that it’s leased, JTRE may sell the unit.
“Now that we have successfully completed our business plan and leased it to a first-class operation we are considering all options, including a sale to deploy our capital towards another project,” said JTRE company head Jack Terzi.