The MKF Group has leased the former H&H Bagel Factory at 639 West 46th Street to the event company, Metropolitan Pavilion.
Now, the once dilapidated building will be transformed into a state-of-the-art “destination location,” similar to the company’s space at 125 West 18th Street and will allow for simultaneous events.
The two-story, 25,000 s/f property has 14 ft. ceilings throughout, a modernized façade and rooftop access. Once renovated, it will include cutting edge audio, video and entertainment technology and contemporary style. Architect David Feldman is coordinating the renovations.
MKF bought the building in February 2012 when it was overrun by garbage, vermin infestations and had a number of building code violations. It was most recently used as a mobile food cart commissary and had previously filed for bankruptcy.
After MKF took title to the property, it evicted holdover tenants and, in January 2013, the company began meeting with Metropolitan Pavilion, signing the tenant after a two-week, fast-track lease negotiation process.
The transaction was handled by Adam Smith, director of real estate at MKF. Jesse Rubens of Murray Hill Properties represented the landlord. John Belitsky and Michael Duncan of Abraham and Martin represented the tenant.
“We acquired the property to serve as a forerunner of change on the West Side,” said Smith. “Metropolitan Pavilion is the perfect tenant for this space. They innovated their concept in the Ladies’ Mile Historic District in Chelsea when the area was still up and coming, and are eager to contribute to reinvigorating this new Manhattan neighborhood.”The renovations are expected to be complete by November this year.