Wendy’s Serves Up New Flatiron District Outpost
By Celia Young July 14, 2022 1:11 pm
reprints
Wendy’s is dishing out a new location in the Flatiron District at 24 West 23rd Street.
The fast-food chain gobbled up a 12-year deal for a 2,500-square-foot, ground-floor space at the base of the four-story building between Fifth Avenue and Avenue of the Americas, according to Tower Brokerage’s Haz Aliessa, who represented Wendy’s in the transaction. Asking rent was $200 per square foot.
Wendy’s bacon-topped burgers will replace the Pret a Manger sandwich shop that occupied the space before closing during the pandemic, according to Aliessa. Aliessa did not immediately respond to a question on when Wendy’s would open.
The new location will be Wendy’s second on 23rd Street after it opened a restaurant at 112 East 23rd Street last spring, just two avenues east of the new outpost. Aliessa said Wendy’s was drawn to the block’s high foot traffic, and it wasn’t alone. The area below Madison Square Park saw an uptick in food tenant leases last year, including the first-ever New York City Dippin’ Dots at 24 East 23rd Street and a 5,000-square-foot Popeyes at 14 East 23rd Street.
The 10,000-square-foot office building serving as Wendy’s new home is owned by Tyrell Limited, part of the Rustan Group of Companies, which runs the Philippines department store chain Rustan’s. Tyrell also houses its headquarters at the property.
RSNY Realty’s Chandru Ramnani brokered the deal for the landlord. Ramnani did not immediately respond to requests for comment.
Celia Young can be reached at cyoung@commercialobserver.com.
