News: Brokerage

Atco Properties & Management welcomes Patiala Indian Grill at 240 West 35th St.

240 West 35th St.

New York, NY ATCO Properties & Management announced it has finalized a 12-year, 3,665 s/f lease for Patiala Indian Grill at 240 West 35th St., an 18-story, 165,000 s/f office building in the Garment District. 

Patiala will move into the retail space previously occupied by Café Metro on the building’s ground floor and a portion of the mezzanine level in spring 2022. This will be the second location for Patiala, which will continue to operate its restaurant at 371 West 34th St.

Patiala joins a notable retail line-up at 240 West 35th St. that includes Latin American restaurant Café Nunez and Irish pub Jack Doyle’s. With the new lease, the building’s retail spaces are now 100% occupied.

“We are thrilled to welcome another fantastic dining option to our building at 240 West 35th St.,” said Kate Hemmerdinger Goodman, co-president of ATCO Properties & Management. “Given our outstanding location just south of Times Square, Patiala will be a great amenity for our tenants and the neighborhood.”

Jean Bates at Capital Real Estate Advisors represented Patiala in the transaction, while Kate Goodman represented building ownership in-house. Asking rent was $150 per s/f.

Built in 1924 and renovated in 2019, 240 West 35th St. features a refreshed lobby with new elevators, as well as a complete façade and roof restoration. Major office tenants at the property include Diptyque, the Citizens Budget Commission (CBC), The New Group, and Fidelus Technology. According to Goodman, current available office spaces in the building range from 500 s/f to a full floor of 10,100 s/f.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,