The North Face Relocating Soho Store to Much Bigger Digs on Broadway

By Lauren Elkies Schram via CommercialObserver.com on December 31, 2018

Outdoor sports apparel giant The North Face has signed a lease for 13,000 square feet at 584-588 Broadway, the current home of Express clothing store, Commercial Observer has learned.The deal, signed last week, includes about 7,000 square feet on the ground floor and 6,000 below grade, sources with knowledge of the deal told CO. The lease is for 10 years and the taking rent was about $200 on the ground and $50 for the basement space.

The North Face will relocate its store at 139 Wooster Street,where it has about 4,000 square feet on the ground and some basement space, to Olmstead Properties’ 584-588 Broadway, a 12-story, 226,000-square-foot office building between Houston and Prince Streets. Express’ lease expires on Jan. 31 and The North Face will take possession of the space in March, the sources said.

Steven Marvin of Olmstead Properties represented the landlord in-house in the transaction, and JLL‘s Michael Hirschfeld, Matt Ogle and Brian Hirschfeld represented North Face. Marvin and Michael Hirschfeld didn’t immediately respond to a request for comment.

Link: https://commercialobserver.com/2018/12/the-north-face-retail-lease-584-588-broadway-olmstead-properties/

These NYC retail deals are vying to be the city’s best

By Lorn Weiss via TheRealDeal.com on May 21, 2018

An important Midtown East location — the connected 761 Lexington Ave. and One Beacon Court, former home to Le Cirque — is getting a major new tenant. Aqua Restaurant Group is opening its first North American restaurant there: Hutong, which serves northern Chinese cuisine. Paul Berkman of JLL represented London-based Aqua. Berkman, along with colleagues Michael Hirschfeld and his son, Brian, pursued the off-market space for their client with building owner Vornado. Its chairman, Steve Roth, then collaborated with Aqua on a dramatic design worthy of both the restaurant and the building.

https://nypost.com/2018/05/21/these-nyc-retail-deals-are-vying-to-be-the-citys-best/

Vornado brings in acclaimed London restaurant to former Le Cirque venue

Va TheRealDeal.com on May 16, 2018

Vornado Realty Trust has inked a deal with the group behind one of London’s hottest restaurants to open a dining concept in the former Le Cirque space at 731 Lexington.

Aqua Restaurant Group, a London-based firm with 25 eateries in Hong Kong, Beijing and London will move into the 18,750-square-foot space with a pricey Chinese restaurant by the end of the year, according to the New York Post. The restaurant will be modeled after Hutong, which occupies the 33rd floor of the Shard tower in London.

The former Le Cirque, a famed celebrity hot spot, closed last year. The new restaurant will feature an entrance off the cobblestone court yard from East 58th Street, a space shared by the Bloomberg Tower, and luxury condos at One Beacon Court.

Aqua was represented by Michael Hirschfeld, Brian Hirschfeld, Paul Berkman and Davie Berke of JLL in the lease deal. Vornado’s chairman, Steve Roth is said to have been personally involved in the negotiations, according to the Post. The deal was signed discreetly last year. 

Link: https://therealdeal.com/2018/05/16/vornado-brings-in-acclaimed-london-restaurant-to-former-le-cirque-venue/

Hot UK restaurant to open in ex-Le Cirque space

By Lorn Weiss Via TheRealDeal.com on May 15, 2018

A celebrated restaurant with northern Chinese cuisine that gets raves at The Shard in London will be opening in the former Le Cirque space, The Post has learned.

The London-based Aqua Restaurant Group quietly signed a lease at the end of last year with Vornado Realty Trust for an 18,750-square-foot spot in which to install its Hutong concept eatery.

When it opens at the end of this year or in early 2019, the restaurant will have an entrance from the spacious cobblestone courtyard off East 58th Street, where both the Bloomberg Tower at 731 Lexington Ave. and the One Beacon luxury condominium also have lobbies.

Michael Hirschfeld, Brian Hirschfeld, Paul Berkman and Davie Berke of JLL represented the restaurant group.

Steve Roth, Vornado’s chairman, worked closely with Aqua’s David Yeo and his partner, Richard Ward, on every aspect of the deal and architecture for its very first North American restaurant.

Aqua was founded 15 years ago and now has 25 venues across Hong Kong, London and Beijing.

The advent of the restaurant was revealed but went unnoticed during a Vornado conference call that merely mentioned it achieved higher rents.

Link: https://nypost.com/2018/05/15/hot-uk-restaurant-to-open-in-ex-le-cirque-space/

The Top 10 NYC Retail Leases in May

By Lucas McGill via TheRealDeal.com on May 5, 2018

May’s top 10 retail leasing deals were just over half of April’s in terms of square footage.

The 10 biggest retail lease deals signed last month totaled just over 165,000 square feet, down 145,000 square feet from April’s total of over 310,000 square feet. The largest retail lease in April was inked in Hell’s Kitchen.

3) Aqua Restaurant Group, 731 Lexington Avenue, Plaza District – 18,750 square feet

The London-based restaurant group inked a lease for 18,750 square feet of retail space at 731 Lexington Avenue, the former Le Cirque. Michael Hirschfeld, Brian Hirschfeld, Paul Berkman and Davie Berke of JLL represented the tenant. The landlord of the building is Vornado Realty Trust.

Link: https://therealdeal.com/2018/06/05/the-top-10-nyc-retail-leases-in-may/