Naya to Open Ninth NYC Location This Year at 1177 Avenue of the Americas
By Mark Hallum October 8, 2024 12:55 pm
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Office workers at Silverstein Properties’ 1177 Avenue of the Americas better get ready for some baba ganoush.
Middle Eastern quick-service restaurant chain Naya signed a 3,120-square-foot lease to open a location in the Midtown building, the ninth location the chain will open in New York City this year, according to tenant broker Cushman & Wakefield (CWK).
The landlord did not immediately provide the asking rent or the length of the lease, but the average retail asking rent along the nearby corridor of Fifth Avenue between 42nd and 49th streets was $583 per square foot in the third quarter of 2024, a report from CBRE shows.
“This flagship lease is just one part of a larger story,” C&W’s Neil Seth, who negotiated on behalf of the tenant alongside Kenji Ota, Jennifer Konefsky and Kathryn Cruz, said in a statement. “Over the past nine months, we have successfully represented Naya in eight leases as part of their expansion strategy in the New York metro area.”
Newmark (NMRK)’s Richard Gelber and Gary Alterman negotiated on behalf of Silverstein Properties, but the brokerage did not immediately respond to a request for comment.
Naya was founded in 2008 by Hady Kfoury and is looking to open 200 stores across the country by 2030, with plans to launch 12 by the end of the year, QSR Magazine reported.
Other tenants in the 50-story between West 45th and 46th streets include law firm Faegre Drinker Biddle & Reath, which signed a deal for 42,394 square feet in July, and the YMCA Retirement Fund, which took 24,640 square feet in January.
Mark Hallum can be reached at mhallum@commercialobserver.com.
