PRESS RELEASE: Avison Young arranges long-term leases for two Manhattan eateries

iPizzaNY secures 1,290-square-foot lease at 3801 Broadway and AO Bowl takes 700-square-foot lease at 82 St. Marks Place

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.