Brasserie Cognac Opening Third Manhattan Outpost at 461 Fifth Avenue
French restaurant chain signed a 15-year lease with SL Green Realty
By Mark Hallum July 18, 2024 2:41 pm
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Brasserie Cognac de Monsieur Ballon is opening up a third French dining establishment in Manhattan.
The chain — with locations at 963 Lexington Avenue and 517 Lexington Avenue — is opening its next eatery at SL Green (SLG) Realty’s 461 Fifth Avenue with a 15-year, 13,687-square-foot lease, the landlord announced in its second quarter earnings report.
The landlord did not disclose asking rents at the base of the 28-story building, but in the second quarter of 2024 the average asking rent on Fifth Avenue from 42nd to 49th streets was $611 per square foot, according to a report from CBRE. SL Green’s tower sits just two blocks south of this corridor on the northeast corner of Fifth Avenue and East 40th Street.
Founded in 2008 by Vittorio Assaf and Fabio Granato, Brasserie Cognac blends French and American cuisine. The tenant did not immediately respond to a request for comment.
Scott Feldberg of GPG Management negotiated on behalf of the tenant, while Newmark (NMRK)’s Ariel Schuster, Ross Berkowitz and Jason Wecker handled the deal for SL Green. Feldberg did not immediately respond to a request for comment.
Mark Hallum can be reached at mhallum@commercialobserver.com.
