Dunphy of Rockrose arranges lease to M. Wells

April 09, 2012 - Shopping Centers

43-15 Crescent Street, Long Island City - Queens, NY

Patricia Dunphy, Rockrose Development Corp.

Rockrose Development Corp. has signed a 10-year lease that will provide a new home for the M. Wells restaurant in Long Island City. The new restaurant will be a steakhouse theme, and is scheduled to open in late fall.
The restaurant will be located in a now-vacant commercial garage space owned by Rockrose Development Corp. at 43-15 Crescent St. There will be several unique and unusual features to the space.
The original M. Wells, which was far smaller in size yet bursting with culinary ambition, opened in summer 2010 in a former Long Island City diner located nearby at 21-17 49th Ave. at 21st St. It was the creation of Quebecois chef Hugue Dufour - who had partnered in Montreal's Au Pied de Cochon - and his Queens-raised wife Sarah Obraitis.
The restaurant skyrocketed to fame with a two-star review from The New York Times in April 2011, followed by a five-star review that summer from Time Out New York. It was named Best Restaurant of the Year by Bon Appetit Magazine.
The restaurant, which The Times called "a diner in name only," featured menu items ranging from the signature egg and sausage sandwich on a house-made English muffin, to entrees of bone marrow and snails, pickled pig tongue, beef tartare, meatloaf, brains, and "anything with foie gras."
Then, after being in business for just over one year, the restaurant closed in August 2011. The owners cited business disagreements with their landlord as the reason for their closing, but they vowed to return to Long Island City in a new location as soon as possible.
This new Long Island City location in Court Sq. will allow M. Wells' devotees access to the restaurant in just seven minutes from Midtown Manhattan.
Justin Elghanayan, Rockrose Principal, said, "From the day they closed, we wanted to help Hugue and Sarah find a new home. The dramatic high ceilings and loft-like qualities of the mechanics' garage turned out to be ideal. "
Patricia Dunphy, Rockrose senior vice president, said, "Soon a new M. Wells will open in Court Sq., where we plan on developing approximately 2,000 new apartment units. M. Wells will be a tremendous addition to the neighborhood, as well as a regional destination for extraordinary food and an adventurous menu."
She said, "Its talented owners have a dream that we are excited to help them fulfill."
M. Wells was represented in the lease negotiations by Adam Cohn, Esq. Dunphy represented Rockrose in-house.
About Rockrose:
Rockrose Development Corp. is a family owned and operated real estate company with four decades of experience. The company's visionary outlook and hands-on approach as an owner, developer and manager has established it as an industry leader that sets New York's standard for quality real estate. Rockrose has earned a reputation for architectural distinction, sensitivity to the community and creative management. Many of Rockrose's projects have received favorable public reviews and design awards by landmarks and other governmental agencies. There are approximately 2,800 units in Rockrose's residential-rental portfolio. Rockrose is perhaps best known for developing the trophy office property, Carnegie Hall Tower.

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