Bareburger Signs Its Biggest Lease Ever, in East Midtown
Lauren Elkies Schram March 9, 2015, 1 p.m.
Bareburger is taking a monster-size bite out Manhattan with the organic, all-natural burger chain’s biggest eatery ever, at 251 East 52nd Street between Second and Third Avenues, in space formerly occupied by Opal Bar & Restaurant, Commercial Observer has learned.
“This is the latest example of Bareburger’s tradition of operating in New York’s most desirable neighborhoods,” said Bareburger’s broker JP Sutro, a director at Lee & Associates NYC, in prepared remarks. “After three years of searching for the perfect Midtown East space, we are excited to bring the largest location to an area bustling with employees and tourists.”
The 5,000-square-foot lease on the ground floor and lower level marks Bareburger’s 17th location in New York City. The deal is for 15 years and the asking rent was $175 per square foot, Mr. Sutro said. The burger company is slated to take occupancy in late spring with the main dining hall on the ground floor and an additional bar and more seating downstairs.
Michael Cohen, then at Newark Grubb Knight Frank and now at RKF, represented the landlord, California-based M West Holdings. Mr. Cohen didn’t immediately respond to a request for comment.
The 1920 walk-up apartment building has 16 units spread over five stories. The building is comprised of 12,018 square feet, according to PropertyShark. Opal closed in July 2014.
Barburger has 30 locations in the U.S. and Canada since opening the first restaurant in June 2009 in Astoria, Queens.