PRESS RELEASE: Avison Young arranges long-term leases for two Manhattan eateriesJanuary 7, 2021
New York – Avison Young’s New York office has arranged long-term leases for two Manhattan restaurants, which include the following:
· A 15-year, 1,290-square-foot lease for iPizzaNY at 3801 Broadway, comprised of 690 square feet on the ground floor and 690 square feet on the lower level.
· A 10-year, 700-square-foot lease for AO Bowl at 82 St. Marks Place, comprised of 400 square feet on the ground floor and 300 square feet on the building’s lower level.
An Avison Young team comprised of Todd Korren, Principal and Maria Fernandez-Barragan, Associate, represented both the tenant and landlord, Dynamic Broadway Corp., in the iPizzaNY lease. For the AO Bowl lease, Fernandez-Barragan represented the tenant, and Greg Goldberg and James Famularo with Meridian Retail Leasing represented the landlord HUBB NYC.
“To succeed in this challenging market, it’s critical for retailers to identify the right location at the right price, while incorporating data to understand how today’s consumer thinks,” Fernandez-Barragan said. “Avison Young was able to leverage its New York retail experience, along with access to cutting-edge technology as a global real estate advisor, to close both transactions.”
Korren continued, “Our track record executing and closing deals combined with a creative approach to leasing served us well in negotiating favorable terms for our clients and we’re pleased to welcome both iPizzaNY and AO Bowl to their new locations.”
AO Bowl is a modern Japanese eatery/smoothie bar that, in partnership with BlendTec, introduced the world’s first commercial vacuum blender, which preserves nutrients and antioxidants. The new location at 82 St. Marks Place opens in January 2021.
iPizzaNY is a gourmet pizza restaurant with five other locations in Manhattan and this latest lease represents its continued expansion. The new location at 3801 Broadway has already opened. More information is available at www.ipizzany.com.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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