Real Estate Weekly
Image default
Deals & Dealmakers Retail

ABS Partners cooks up some deals for city chefs

ABS Partners Real Estate has secured three new restaurant leases.

Kingsley, a new contemporary American restaurant by owner and chef Roxanne Spruance, signed a 10-year, 2,400 s/f lease at 190 Avenue B in the East Village.

Dean Valentino and Mark Tergesen of ABS Partners represented both the landlord and the tenant in the transaction. Asking rent was $125 psf based on the ground floor.

Udon Noodle Bar, a Japanese restaurant by Huey Cheng, the owner of Kura, the East Village’s top sushi restaurant, signed an eight-year, 1,200 s/f lease at 342 East 6th Street.

Kura in the East Village
Kura in the East Village

Valentino and Tergesen represented the landlord, Matel Realty, while Tracy Hanna and Karma McDermott of SKH Realty represented the tenant. Asking rent was $135 psf.

And Yura on Madison, a specialty gourmet café, signed a 10-year, 1,628 s/f lease at 1350 Madison Avenue. The restaurant will be relocating from East 92nd Street to the corner of East 96th Street and Madison Avenue this fall.

Valentino, Tergesen and Keith Lipstein of ABS Partners represented the landlord, while Seth Weinstein of ABC Realty represented the tenant. Asking rent was $165 psf.

“Each restaurant brings a unique factor to its respective area. The East Village is a hotspot for foodies, which is why Kingsley and Udon Noodle Bar — two restaurants owned by bourgeoning chefs — valued space in the neighborhood to establish their brand,” said Valentino.

“For Yura on Madison, it was important to the owner to stay in a convenient, nearby location, which we were able to achieve by securing a space just blocks up the Avenue.”

(Visited 1 times, 1 visits today)

Related posts

Standard makes $38M bet senior housing in Atlantic City

REW

CT investor strikes two-state facilities deal with cannabis operator

REW

Woodmont sells southeastern industrial property for $18M

REW