Manhattan, NY According to The Durst Org., Sparks Steak House has signed a 15-year lease for 22,924 s/f on the ground and basement levels at 210 East 46th St. in 733 Third Ave. Sparks, a family-owned business, celebrated their 50th anniversary in 2016, and the restaurant has been at the East 46th St. location for the past 40 years.
“Sparks has been a neighborhood staple since the late 1970s,” said Jonathan Durst, president of The Durst Org. “They are a New York institution, our oldest East-Side tenant, and we are thrilled with their success in the competitive restaurant business and are pleased they will remain in our portfolio.”
The deal was direct with Sparks, and The Durst Org. was represented in-house by executive vice president Tom Bow and director Ashley Gee.
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.