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.
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
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