News: Brokerage

Resolution Real Estate leases 5,300 s/f to Bazza

Manhattan, NY Gerard Nocera, managing partner, Resolution Real Estate, a member of NAI Global, and Newmark vice chair Jeffrey Roseman and director Drew Weiss have arranged the lease for a 5,300 s/f multi-level space at 251 West 30th St. for Bazza, a new Caribbean-Mediterranean Fusion restaurant. The space encompasses the 3,641 s/f ground floor, 1,142 s/f mezzanine level, and a 500 s/f basement. The lease term is 10 years and the asking rent was $120 per s/f.

Roseman and Weiss represented building ownership, which includes Nocera, and the restaurant owner. Ownership’s counsel was Kathy Younkins, managing principal, Younkins & Schecter, a WBENC-certified law firm.

“Bazza is a new restaurant concept that aligns perfectly with an eclectically evolving neighborhood,” said Nocera. “When we acquired the building a decade ago, the area was primarily commercial, but today it is more mixed-use with residents and tourists and known for its proximity to the High Line.”

Bazza is expected to open in late Q4/2025. It is the second unit in Manhattan for the restaurant operator, who also has a Caribbean concept restaurant, Kanu Bar & Grill, in Harlem.

Weiss said, “It is important to have retail businesses that serve as amenities for the office tenants and, at the same time, draw customers from around of the area. A couple years ago, our team brought 787Coffee to the building’s other retail space. Since then, it has flourished with a strong customer base and even expanded into other locations.”

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
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
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.