Landry’s CEO Buys Famous Keens Steakhouse Property for $30M

The building that houses a famous New York City restaurant that has served historic figures like Theodore Roosevelt, Babe Ruth and Liza Minnelli has sold for $30 million, with the new owner taking over operation of the famed steakhouse.

Landry’s CEO Tilman Fertitta has purchased 72 West 36th Street, where Keens Steakhouse has operated since 1885, according to a Landry's spokesperson. 

Jesse Fink, who is listed as the executor of the estate of former owner Dr. George Schwarz, signed for the seller, while Landry’s Steven Scheinthal — who oversees the dining and hospitality corporation’s real estate portfolio — signed for the buyer, according to city records made public Thursday.

Under Fertitta, Landry’s will take over full operation of the steakhouse, which is one of “the most unique dining experiences in all of New York City,” Bonnie Jenkins, lead manager of Schwarz’s estate, said in a statement sent to Commercial Observer.

“We looked for a buyer that agreed to allow our team to continue to operate and manage Keens in the same tradition it has been for the past 140 years,” Jenkins said. “I believe George would be happy to know that our new owner, Tilman Fertitta, is committed to maintaining the legacy of our historic brand.”

It’s unclear who brokered the deal. A spokesperson for Keens did not immediately respond to a request for comment.

The steakhouse’s namesake, Albert Keen, set up the restaurant, originally called Keen’s English Chop House, between Fifth and Sixth avenues as a place for producers, writers and composers to convene after Broadway shows.

In 1928, New York City developer Herman Zuch bought the steakhouse and ran it until his death in 1971, the New York Times reported. Schwarz, who owned several other restaurants in the city at the time, took over Keens in 1978.

Schwarz invested $1.4 million to renovate the Midtown property four blocks from Bryant Park and preserve the steakhouse’s reputation as a beloved meeting place, the Times reported.

When Schwarz died in 2016, his trust continued to own the restaurant, and Keens took over the mortgage on the building in 2017, records show. 

Throughout the years, Keens has been frequently cited as one of the best steakhouses in the city and is known for its massive, 26-ounce mutton chop. Now, Landry’s will inherit the famous eating place.

“Tilman appreciates our old-world charm and unique museum-like dining experience, and I am grateful that we will continue to serve our community and visitors from all over the world while preserving our iconic restaurant for years to come,” Jenkins said.

Landry’s already has some experience slinging steak. The company owns Morton’s the Steakhouse and Del Frisco’s, and in 2020 dropped $45 million to purchase the storied steakhouse chain The Palm.

Isabelle Durso can be reached at idurso@commercialobserver.com.