Monday Properties and Invesco announced that Eldon Scott, president of Urban Space, has signed a long-term lease for 10,000 s/f of retail space at 230 Park Avenue.
Urban Space will transform the Beaux Arts space into a modern food hall, showcasing between 20 and 30 regional chefs and food makers.
The new food hall will occupy a highly visible space atop Grand Central Terminal, with sidewalk frontage on East 45th Street and Vanderbilt Avenue.
In New York, Urban Space is best known for its groundbreaking pop-up food markets Mad. Sq. Eats, Broadway Bites, Dekalb Market and the Union Square and Columbus Circle Holiday Markets.
The company is the American arm of Urban Space Management, a UK company that has led the food-based re-use of many London landmarks including Old Spitalfields Market, Borough Market, and Chelsea Market. It is currently working to save the historic Smithfield Meat Market.
Anthony Westreich, CEO of Monday Properties, said, “We are absolutely thrilled to be working with Eldon Scott and his creative New York City team. I believe that our architecturally striking restaurant space at 230 Park Avenue is destined to attain legendary status as a food destination. We will revive Grand Central Terminal’s fabled dining legacy with a food hall like no other in New York City.”
Urban Space was represented in the lease negotiations by Amira Yunis and Ben Daniels of CBRE Group, Inc. Monday Properties director of leasing, Jordan Berger, represented the building owner along with the Cushman & Wakefield retail team of David Green, Steven Soutendijk and Christopher Schwart.
Scott said, “We want to combine the feeling of the traditional food hall with the tremendous food entrepreneurship and inventiveness in New York today. Our UK office has been a prime retail renovator in London for over 40 years, consistently working to uphold high standards of urban development by conserving heritage buildings and creating vibrant new places.”
230 Park Avenue is a 34-story landmark tower, with 1.4 million square feet of class A office space, complemented by midtown’s finest restaurants, boutiques and hotels. Located between East 45th and East 46th Streets, the timeless icon delivers a quintessential New York City experience, coupled with an unparalleled level of service and 21st century building systems.
