According to Newmark Grubb Knight Frank Retail, Pennsylvania Six, a new restaurant and bar concept from the owners of Public House, has signed a long-term lease at 31 Penn Plaza. The restaurant will occupy 4,000 s/f on West 31st St. between Sixth and Seventh Aves., and is slated to open in September.
Marc Frankel, Amy Zhen and Michael Cohen of Newmark Grubb Knight Frank Retail represented the landlord, Savanna, in a direct deal with Pennsylvania Six.
"The Pennsylvania Six concept will be a great fit for the area given Penn Plaza's dense office population and the foot traffic from surrounding hotels and, of course, Madison Square Garden," said Zhen.
Public House currently operates a variety of successful restaurant and bar concepts throughout New York, Philadelphia and Maryland, and is set to open its first Las Vegas outpost later this year.
"In addition, we are marketing a 1,500 s/f retail space at the property, also with a storefront on West 31st St.," said Zhen. Previously a full-service restaurant, the retail space at 31 Penn Plaza boasts high ceilings, gas, abundant electrical capacity and basement storage. "It is perfect for an operator also looking for the heavy morning, midday and evening activity generated by the surrounding office and growing residential/hospitality population."
About Newmark Grubb Knight Frank
A part of BGC Partners, Inc. (NASDAQ:BGCP), Newmark Grubb Knight Frank is one of the largest commercial real estate service firms in the U.S. It brings together the strategic consultative approach to creating value for clients and leading position in the New York market that are hallmarks of Newmark Knight Frank; the complementary strengths of Grubb & Ellis in leasing and management, investment sales, valuation and capital markets services; and BGC's financial strength, proprietary technology, expertise in global capital markets and deep relationships with many of the world's leading financial institutions.
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