August 10, 2023 9:00 AM
Newmark Retail announces the firm secured a new 4,167-square-foot retail lease on behalf of 124 Seventh Avenue ownership, HUBB NYC, at their single-story retail property in Manhattan’s Chelsea neighborhood. The lease welcomes tenant Terra Mediterrania (“Terra”)–an efficient service restaurant (“ESR”) debuting an entirely new category of dining for New Yorkers with bold Mediterranean flavors. The brand signed a long-term lease to occupy the entire building.
Newmark Vice Chairman Ariel Schuster, Senior Managing Directors Ross Berkowitz and Darrell Rubens and Associate Gabriel Staab represented ownership on the lease transaction, while Associate Director Mai Shachi was the sole tenant representative.
“In knowing the tenant’s requirements for the space and the demand in the neighborhood, we recognized an inherent alignment between the branding and single tenant occupancy opportunities provided by 124 Seventh Avenue and Terra,” said Shachi. “We are very excited for New York City to get to know the brand and enjoy their delicious food while dining in a great atmosphere.”
Terra broke onto the Manhattan restaurant scene last month, bringing a roster of efficiencies. Upon entering the space, guests are met with smart kiosks that use ATMOS, a new-to-market point-of-sale technology, to streamline the ordering process, aggregate information about ordering trends and optimize the menu with a complete list of ingredients, allergens and photos. Designed with clean energy and consistency in mind, the food is prepared in a 100% electric kitchen, offering speed and precision.
Located at 124 Seventh Avenue, between 17th and 18th Streets, the former Le Pain Quotidien-occupied outpost benefits from a roster of area amenities, including world-class neighbors Cafeteria, EQ3, Safavieh Home Furnishings, The Commons Chelsea and Williams and Sonoma. In addition to in-restaurant dining, Terra offers direct-to-door delivery service on the ESR’s website, DoorDash, UberEats and GrubHub.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of June 30, 2023, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with over 7,400 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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