Mediterranean Restaurant Pixida to Open 16K-SF Eatery at 245 Fifth Avenue
By Isabelle Durso October 31, 2024 4:09 pm
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A new Mediterranean restaurant is coming to town.
Pixida, which will offer a full menu of Greek cuisine, has signed a 20-year lease for a 16,129-square-foot, multi-level space at the Moinian Group’s 245 Fifth Avenue in NoMad, according to the landlord.
The new restaurant at the corner of Fifth Avenue and East 28th Street is set to open during the fourth quarter of 2025, Moinian said.
“The addition of Pixida symbolizes a number of significant milestones for 245 Fifth Avenue as we add a renowned culinary concept to the region and reach full retail occupancy at the property,” Moinian’s Gregg Weisser, who brokered the deal for the landlord, said in a statement. “The building’s unparalleled and accessible location continues to attract best-in-class businesses, and we look forward to Pixida opening its doors in the neighborhood.”
The asking rent was not disclosed, but a report from CBRE found retail rents in Manhattan averaged $716 per square foot during the third quarter.
Lee & Associates NYC’s Brad Schwarz and Olivia Hwang also brokered the deal for the landlord, while Compass’ David Graff represented the tenant. Graff did not immediately respond to a request for comment.
Upon its opening, Pixida will join other tenants at the 24-story, 321,527-square-foot building such as health food restaurant Avo, national bank Valley Bank and furniture manufacturer The Hon Company.
“245 Fifth Avenue presented a rare opportunity to secure a prime corner space in NoMad,” Schwarz said in a statement. “Pixida’s commitment to this location complements the neighborhood’s established retail tenants and adds a dynamic new offering that enhances the building and local community.”
Also at the NoMad tower is drink company Siete Bucks Spirits, which produces Dwayne “The Rock” Johnson’s tequila brand Teremana Tequila. Siete Bucks took 4,500 square feet at the property in January, as Commercial Observer previously reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
