The Parlour Midtown opens in Infinity Real Estate-owned property

According to Infinity Real Estate LLC, an Infinity Group Co., The Parlour Midtown, a 7,000 s/f Irish "Gastro-Steakhouse" has opened its doors at 247 W. 30th St. - a mixed-use loft office property owned and managed by Infinity Real Estate. Since signing a lease in late 2009, John Kelly and Sean McCarthy (also of the Parlour West Side 86th St.) have carefully crafted what they describe as 'the next generation of the Irish Bar.' Designed by Ireland-based Berington Group Interior Design, the space features 20 ft. ceilings, a 20 seat black granite bar top and plush leather banquettes throughout. Between the main floor dining and bar area, the mezzanine, and the private party room downstairs, the facility houses 220 guests. The signature artistic element of the restaurant is oversized satirical portraits of famous Irishmen like Oscar Wilde and Bono (of U2 fame), which round out the bold, yet understated Irish theme. Now open for lunch and dinner, The Parlour Midtown, led by French-Canadian chef Jacques Belanger will offer standard Irish fare (fish and chips, shepherd's pie), along with more unique bar snacks (crispy duck gizzards, smoked salmon boxty), and a high-end line of steaks, lamb, and fish. On tap, Guinness is served beside local IPAs from New York breweries and renowned wine expert Andre Compeyre, pairs the pub's menu with a great selection of wine. Daryn Mayer, on her experience at The Parlour Midtown, said "The Parlour space is fabulous, the food is delicious. I like the brand concept of a gastro spin on the Irish pub. The diverse menu gives the restaurant the ability to market their culinary uniqueness to all who enjoy excellent food and drink, fair prices, along with a welcoming staff in a magnificent Midtown space." The opening of The Parlour Midtown adds another exciting element to a property that has recently seen the completion of a $3 million capital improvement program. During that same period, over 30,000 s/f of space was leased to a diverse tenant mix ranging from PR firms to post-production companies, further solidifying W. 30th Street and the Midtown South/Penn Plaza market as a desirable location for the creative tenant. 247 W. 30th Street is a mixed-use loft office property located in the Penn Plaza/Midtown South neighborhood in Midtown Manhattan. Since being acquired in June, 2008 by Infinity Real Estate and Katz Properties, the 67,500 SF property has undergone an extensive capital improvement program featuring new elevators, electrical and fire safety systems, energy-efficient windows, lobby and façade restoration, and new tenant corridors. Purchased for $15.85M, the property was 90% leased at closing, with average in-place rents around $17 PSF. Less than 24 months later, occupancy is at 100%, and the building is anchored by the 7,000 SF upscale Irish Bar and Restaurant, The Parlour Midtown. Average rents over that period have increased by 30%, to $24 PSF, and over 30,000 square feet of space has been leased. Long home to the city's garment and light manufacturing trades, 247 W. 30th Street is representative of a neighborhood transitioning from a manufacturing-driven local economy into an attractive location for the City's artistic and creative class. 247 W. 30th Street is now home to some of New York City's premier boutique public relations, design, media, and production firms. The property is managed by Infinity Real Estate's property management subsidiary, Infinity Office Properties. About Infinity Real Estate Infinity Real Estate is a New-York-based private real estate owner, investor, and operator focused on the acquisition, redevelopment, and re-positioning of commercial properties across select U.S. markets along the East Coast, the Mid-West and Central States. Infinity Real Estate is the property acquisitions, development, and management unit, owned and operated by the Infinity Group. The Company currently operates approximately 40 commercial properties and development projects in 13 states. Infinity Real Estate's principals have led or have directly transacted in over $2.5 billion of real estate related investments, representing over 75 asset or project acquisitions or developments, as well as several private corporate deals. The Company has established a strict investment discipline centered on active management of all its projects.