Southern Restaurant Kitchen + Kocktails Takes 20K SF in Times Square
By Isabelle Durso November 18, 2024 2:43 pm
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Southern restaurant chain Kitchen + Kocktails will open its first New York City location next year in Times Square, Commercial Observer has learned.
Kitchen + Kocktails, which serves Southern comfort food and cocktails, signed a 15-year lease for 20,000 square feet at 147-149 West 46th Street, according to landlord broker Okada & Company.
The restaurant’s lease includes retail space on the basement, ground floor and second floor, as well as office space on the third and fourth floors of the building, according to Okada’s Thomas Capuano, who brokered the deal for the landlord along with Christopher Okada.
The retail asking rent was $150 per square foot, while the asking rent for the office space above was $60 per square foot, Capuano said.
The building, about two blocks from where Broadway slices diagonally across Seventh Avenue, is owned by Montague-Lee LP, an entity tied to Korean investor Ui Kun Lee, according to The Real Deal. The company bought the property, formerly home to TGI Friday’s, in October 2018 for $22.5 million, TRD reported.
Kitchen + Kocktails opened in 2020, the brainchild of attorney and entrepreneur Kevin Kelley. It now operates five locations in Dallas, Chicago, Charlotte, Atlanta and Washington, D.C., and will open its first New York City eatery at the Times Square building in the fourth quarter of 2025, according to the brokers.
“I think this was definitely a good deal for both sides,” Capuano told CO. “We pushed this building in front of everybody possible. Activity was strong, the feedback was strong, and ultimately we were able to find a winner.”
Murro Realty’s Cosmo Montemurro and Jarrett Sharp represented the tenant in the deal. Sharp told CO the firm “worked hard to find the right space” for Kelley.
Kitchen + Kocktails will join popular restaurants in the area including Cuban restaurant Havana Central Times Square at 151 West 46th Street and French steakhouse Le Marais at 150 West 46th Street.
Isabelle Durso can be reached at idurso@commercialobserver.com.
