Eastern Consolidated Arrange 9,000 SF Retail Lease in Prime Koreatown Corner Location
NEW YORK, NY – June 5, 2018 – The owners of Five Senses Korean restaurant will be opening a new hospitality concept in a 9,000-square-foot, tri-level space at 319 Fifth Avenue on the corner of 32nd Street after signing a lease arranged by Eastern Consolidated and PD Properties.
Harris Bulow, Senior Director, lead Eastern Consolidated’s team with Aric Trakhtenberg, Director, and Kevin Bisconti, Associate Director, negotiated the lease on behalf of the ownership with the landlord’s manager, Peter Forman of Forman Realty Management LLC, and PD Properties’ Tony Park and Stacy Gim represented the tenant.
The prime corner space offers 27 feet of frontage on Fifth Avenue and over 50 feet of frontage on 32nd Street at the crossroads of Koreatown and NoMad, steps from the Empire State Building, and one block from Herald Square.
“This is a highly visible corner location that sees a tremendous amount of foot traffic from the area’s office workers, residents, and tourists,” Bulow said. “We had significant competition for the space with over 30 offers, but the landlord selected the Five Senses Group because of the strength of their offer.”
Park continued, “Five Senses knows this location, which has solid foot traffic 22 hours per day, every day of the year, and thought it was the perfect spot for their new concept.”
Located at the base of a five-story office building, the retail space features double height ceilings on the first floor; a mezzanine; and a usable 4,501 square feet Lower Level with a 6A Use Group (eating and drinking establishment), featuring 16-foot high ceilings. The space includes a fully vented commercial kitchen and was previously leased to the restaurant Kyochon.
Five Senses is a fast-casual Korean dining experience serving modern and traditional Korean Cuisine at 9 West 32nd Street in Koreatown. More information is available at www.fivesensesnyc.com.
Powered by a highly skilled team of over 100 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types. For more information, visit www.easternconsolidated.com and follow us on Twitter@EasternConsol.
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