SK Hospitality Group Takes 15K SF at 25 Broad Street for Two New Restaurants
By Isabelle Durso June 26, 2025 12:04 pm
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SK Hospitality Group will open two new restaurants in the Financial District later this year.
The firm, which manages hospitality venues across the globe, has signed a 15-year lease for 15,000 square feet on the lower level and ground floor of Regal Ventures’ retail condo at 25 Broad Street, according to landlord broker Vantage Real Estate Advisors. Asking rent was $1 million per year.
SK Hospitality’s new bi-level space — which will be run by restaurateurs Stylianos Kakavelis and Jake Schneider — will be split into two restaurants: a modern pan-Asian eatery on the ground floor, and an upscale Latin fusion restaurant and lounge on the lower level, which used to be a walk-in bank vault, Vantage said.
“We’re excited to welcome SK Hospitality Group to 25 Broad Street,” Joey Cohen, co-founder of Regal Ventures, said in a statement to Commercial Observer. “This isn’t just another address. It’s a landmark property with history, scale and a front-row seat to the neighborhood’s evolution.”
Vantage’s Danny Volk, Marc Johnson and Kayla Terzi brokered the deal for the landlord, while Yangzi International Realty’s David Chkheidze and Jonathan Stotter represented the tenant.
Chkheidze and a spokesperson for SK Hospitality did not immediately respond to requests for comment.
SK Hospitality will take over the retail condo at the building on the corner of Broad Street and Exchange Place — also known as the Broad Exchange Building — from previous tenant Bobby Van’s Steakhouse, according to Vantage.
The Greece-based hospitality firm manages hotel brands including Wyndham and Minos and has offices in the U.K., Germany and Thessaloniki, Greece, according to its website.
SK Hospitality will join several other tenants at the Financial District building, including medical laboratory Speedy Sticks and financial consultant Elite Advisor Consulting.
Regal Ventures bought the property’s 20,000-square-foot retail condo from LCOR in January 2020 for $10.5 million, the New York Post reported at the time.
Isabelle Durso can be reached at idurso@commercialobserver.com.
