Eastern Consolidated Arranges Lease on Ninth Avenue in Hell's Kitchen for Indian Restaurant Group
NEW YORK, NY – April 7, 2017 – A 30-year-old family-run Indian restaurant group is opening its fourth location in Manhattan at 788 Ninth Avenue in Hell’s Kitchen, marking the 16th lease Eastern Consolidated’s Retail Leasing team has arranged on Ninth Avenue’s “Restaurant Row.”
The 10-year, 1,400-square-foot lease for the new restaurant called Badshah was negotiated by Senior Director and Principal James Famularo and Director Jeff Geoghegan, who represented the landlord, and Director Ravi Idnani, who represented the tenant.
“This was a unique situation because we leased the space before it was vacant,” Famularo said. “When we heard it might be coming available, we jumped into action because Ravi was looking for space on Ninth Avenue specifically for this restaurant group.”
The restaurant group, comprised of executive Chef/Owner Lala Sharma, his sons Abishek and Abim, and Co-Owner Sandeep Singh, currently operate three Indian restaurants— Surya at 154 Bleecker Street, which is a Michelin starred restaurant; Swagat at 411 Amsterdam; and Lala Sahab at 489 Columbus Avenue.
The owners have over 30 years of experience in the restaurant and hospitality business and a history of operating successful businesses.
Idnani continued, “The owners wanted to be on Ninth Avenue because they loved the energy and non-stop foot traffic that the commercial corridor offers 24-hours a day. They fell in love with the space and we signed the deal even before the previous tenant gave back the keys. Chef Sharma and his partners plan to build out the space quickly and open this Spring.”
Geoghegan added, “Ninth Avenue between 52nd and 53rd Streets is a particularly desirable location because of the abundance of fabulous restaurants nearby such as the Meatball Shop, Southern Hospitality, and OBAO to name just a few. Rents are still affordable on Ninth Avenue, which is why the retail strip is so attractive to restaurants. Ninth Avenue also serves as a bridge between the new luxury residential towers located to the west and Theater District and high-rise office buildings and hotels patronized by tourists on the East.”
In addition to arranging the retail lease at 788 Ninth Avenue, Eastern Consolidated’s Retail Leasing Team has arranged leases for 15 other businesses and restaurants on the commercial corridor including Kings of Kobe at 790 Ninth Avenue; Rice Burger at 746 Ninth Avenue; D Square Café at 714 Ninth Avenue; Chaan Teng at 700 Ninth Avenue; Little Italy Pizza at 696 Ninth Avenue; Southern Hospitality at 645 Ninth Avenue; OBAO at 647 Ninth Avenue; City Sandwich at 649 Ninth Avenue; Wrapido at 673 Ninth Avenue; Fuel Grill & Juice Bar at 683 Ninth Avenue; Casa Agave at 693 Ninth Avenue; Uni K Wax at 695 Ninth Avenue; and Atlas Social Club at 753 Ninth Avenue.
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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