News: Brokerage

Famularo, Geoghegan and Idnani of Eastern Consolidated lease 1,400 s/f

Eastern Consolidated has arranged a 15-year, 1,400 s/f lease for the Eatery, a popular Hell's Kitchen restaurant that is relocating to 788 Ninth Ave. after spending 15 years at another location on the block. Eastern's real estate leasing brokers James Famularo, senior director, and Jeff Geoghegan, associate director, represented the owner, and Ravi Idnani, associate director, represented the Eatery, which is seeking to relocate because its current lease is expiring. "This lease represents the 10th deal that Eastern has arranged on the Ninth Ave. corridor in Hell's Kitchen," Famularo said. "The location was sought after by many restaurant groups because a restaurant with a fully vented kitchen previously occupied the space. The ownership thought the Eatery was a good fit because it's been a neighborhood treasure for 15 years and the restaurant was committed to operating on the block for another 15 years." "The stars were aligned on this deal," Idnani said. "The owners of the Eatery passed on other locations but when my colleagues at Eastern got this listing from the owner, they jumped on it and we got the lease signed in three weeks." This Ninth Ave. corridor offers retailers tremendous foot traffic from local residents who are eager to take advantage of the large number of excellent restaurants like the Eatery, which offers a contemporary American menu in its restaurant as well as catering and take-out services.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

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