Manhattan, NY Equity Office has signed a new 15-year lease with The Little Beet at 5 Bryant Park, its 34-story class A office tower in Midtown.
The Little Beet is a multi-unit restaurant that offers a variety of healthy, gluten-free culinary options inspired by local, seasonal and wholesome ingredients. Founded in 2014 in NYC, The Little Beet is run by NYC-based restaurant group Aurify Brands, which builds, owns and operates a network of category-leading restaurant concepts, including Melt Shop, Fields Good Chicken, MAKE Sandwich, and Five Guys. Under the new lease, The Little Beet will occupy 1,686 s/f on the ground level of the building beginning in the second quarter of 2018.
Equity Office completed a substantial capital improvement program at 5 Bryant Park in late-2015, which included the revitalization of the building’s retail spaces and construction of a new storefront.
The Little Beet was represented by Ben Birnbaum of Newmark Knight Frank. Equity Office was represented in-house by Zachary Freeman and Scott Silverstein, as well as by Eric Gelber and Jordan Kaplan of CBRE.
Built in 1958, the 680,000 s/f tower boasts convenient access to 11 subway lines, the PATH train, and commuter lines at Grand Central Terminal, Penn Station, and Port Authority Bus Terminal. Notable tenants include Seamless, HOK Architects, Movable Ink, and TJX.
What noteworthy transactions or deals from this year best exemplified key market trends or shifts? I would like to say there was an outstanding transaction for me this past year but 2024 was more a culmination of long-term relationships, most of which continued to transact. Deals were smaller in many cases but we saw robust leasing both on the agency side as well as on the tenant side.