Vornado Realty Trust and LeFrak welcome the return of Le Colonial with 9,600 s/f lease
Manhattan, NY Vornado Realty Trust and LeFrak today entered an agreement with Le Colonial to open a new restaurant at 50 West 57th St., marking the acclaimed French Vietnamese concept’s anticipated return tothe city. This new location is expected to open summer 2027.
Under a 15-year lease, Le Colonial will create a new dining destination across 9,600 s/f located between Fifth and Sixth Ave. in the heart of Midtown. The restaurant will feature 215 seats, offering indoor and outdoor seating, a full bar and lounge, and private dining. In addition, Le Colonial signed a companion office lease to house its New York City offices on the building’s entire seventh floor.
Founded in 1993 by celebrated restaurateur Rick Wahlstedt and partners, Le Colonial introduced New York City to upscale fine dining French Vietnamese cuisine, the first of its kind in the country. Drawing inspiration from the seductive spirit and vivid flavors of 1920s Saigon, the restaurant quickly became a Midtown hotspot. Over the past three decades, Le Colonial has expanded to locations across Chicago, Houston, Atlanta, Lake Forest, Delray Beach, Naples, and Denver, earning a loyal following for its cuisine, attention to detail, and classic atmosphere.
“Le Colonial first opened on 57th St. more than three decades ago, so this neighborhood has always felt like home to us,” said Rick Wahlstedt. “Having lived in New York for over 40 years, it feels incredibly meaningful for me to return here with my partner Joe King and bring Le Colonial back to its roots in a new format that reflects how the brand has evolved over the years. We’re also excited to partner with Frederick Lesort, a longtime New York restaurateur, as we begin this next chapter and welcome guests back to 57th St.”
“We are pleased to welcome Le Colonial back to New York City where its famed story began,” said Vornado executive vice president and co-head of Real Estate Glen Weiss. “Surrounded by five-star hotels, trophy office towers and luxury retailers, Le Colonial’s return reaffirms this 57th Street corridor as one of Manhattan’s premier dining destinations.”
Le Colonial was represented by Gary Trock at Retail Advisory Services. Vornado was represented in house by a team led by Jason Morrison, Vornado SVP Retail Leasing.