National Asian Fusion Chain Inchin’s Bamboo Garden Landing in NYC on PAS
By Lauren Elkies Schram August 14, 2017 10:30 am
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Inchin’s Bamboo Garden, which fuses Chinese and Indian “feel good” street food, is opening its first eatery in New York City on Park Avenue South, Commercial Observer has learned.
The franchise restaurant will take the space previously occupied by Hale and Hearty at 432 Park Avenue South between East 29th and East 30th Streets, according to information provided by Newmark (NMRK) Knight Frank. The 10-year lease is for 2,786 square feet (2,178 square feet of it at grade for retail and 608 square feet on the lower level for back-end support).
NKF’s Tom Citron and Ethan Berenzweig brokered the transaction for the tenant, while the landlord, Samco Properties, was represented in-house.
The asking rent for the deal was $200 per square foot, and the restaurant will open in the fourth quarter.
“Inchin’s Bamboo Garden provides a fresh take on food from traditional cultures,” Citron said in prepared remarks. “432 Park Avenue South is an excellent location for their first representation in New York City, and we are truly looking forward to seeing the restaurant thrive as it has in their other American cities including Washington, D.C., and Seattle.”
Inchin’s Bamboo Garden has 18 locations in a myriad of states from California to Georgia to Texas to New Jersey, its website indicates.
The property at 432 Park Avenue South is a 16-story, 129,424-square-foot office building, Costar Group shows. Hale & Hearty quietly closed its location there and and at two other Manhattan spots last December when the leases expired and the soup company faced rising real estate costs, as CO previously reported.
The Pan-Asian franchisee chose Park Avenue South for “the seven-day traffic with [technology, advertising, media and information] office tenants and the young professional residential population,” a NKF spokesman emailed.
