Newmark Retail has brokered a long-term 4,388 s/f lease for contemporary Mexican restaurant, Fonda at 139 Duane Street in Tribeca.
The new space will be located on the north block between West Broadway and Church Street and marks the purveyor’s third location in the city.
Newmark’s Managing Director Andrew Stern and Associate Mai Shachi represented the landlord, Madison Realty, in the transaction.
The address was once home to Tribeca staple Blaue Gans and most recently housed the restaurant Savida. The team at Fonda has hired award-winning architect Enrique Norten of Ten Arquitectos to design the restaurant interiors. Fonda at 139 Duane Street plans to be open by the end of the year.
Founded in 2009 by celebrated chef and cookbook author Roberto Santibañez, Fonda now operates three locations in Chelsea, Park Slope Brooklyn and now, the East Village.
“Currently, we’re seeing a lot of interest from notable food and beverage purveyors looking to Tribeca as a dining destination,” said Stern. “The neighborhood offers several second-generation spaces for restaurateurs and is experiencing a shifting change in demographics that are skewing younger due to pandemic related residential moves.”
139 Duane Street is owned by Madison Realty, a private real estate investment firm run by Henry Shalom, his sons Isaac and Billy and granddaughter Vivian Nakash. The firm’s primary focus in the region is on retail assets and was on a mission to lease this to a purveyor that would best reflect the neighborhood and add to the vibrant community.
Said Nakash, “We had several offers for the space, but we connected with Roberto from Fonda, and he believed in our shared vision for creating a neighborhood destination is what’s necessary to be successful in Tribeca.”
Daniel Rodriguez Sains of Buchbinder & Warren represented Fonda in the transaction.