Shnay of Sierra Realty arranges 8,000 s/f; Danziger, broker, assists

Sierra Realty Corp. has arranged a new home for patissiere François Payard at 116 West Houston St., between Thompson and Sullivan Sts., in Greenwich Village, according to Peter Braus, executive vice president and principal of the full-service-based real estate firm, and exclusive leasing agent for the building. It will be the iconic pastry chef's first foray into the culinarily resplendent neighborhood, a bastion of gourmet chocolatiers and patissieres with such time-honored destinations as Patisserie Claude, Lafayette French Pastry Bakers and Li-Lac Chocolates. Sierra's Ruth Shnay represented Payard, along with independent broker Nevin Danziger, in the negotiations for the 15-year lease of the 8,000 s/f space, which will house both a bakery/confectionery and café. Sierra is the exclusive leasing representative for the landlord of the 30,000 s/f, Y&H Realty. The firm has overseen its transformation from a vacant building to a fully leased office building. "This remarkable pastry chef is about to have a new home in a neighborhood renowned for its great culinary personalities," said Braus. "Moreover, his presence here is a testimonial to our repositioning this former manufacturing building into a hip office building, filled with creative firms and great retail." François Payard began his New York career at Le Bernardin and Restaurant Daniel, where he earned the prestigious James Beard Association "Pastry Chef of the Year" in 1995. Two years later, he opened Payard Patisserie and Bistro on Lexington Ave. and 73rd St. Currently, he has locations in Brazil, Japan and Las Vegas, as well as a shop-in-shop on the fourth floor of Mauboussin, at Madison Ave. and 63rd St. Founded in 1953, Sierra Realty Corp. provides commercial and multi-family property management services, office and store leasing, advisory services to building owners and tenants, real estate consulting services and invests for its own accounts. The firm currently manages 50 buildings, comprising 2,000 residential units and approximately 600,000 square feet of office and retail space.