A New York Metropolis hospitality group identified for its fashionable restaurant chains has picked up a West Village nook spot made famous on the small screen.
Group Hospitality, which oversees restaurant manufacturers Boucherie, Olio e Più and Omakase Room, purchased the property at 87 Seventh Avenue South for $7.3 million, The Actual Deal has realized.
The property final traded in 2018, when an entity tied to David Heiden’s Nice Neck-based W. Monetary, paid $13.3 million for the restaurant house and a neighboring residential property. The house has sat vacant for the reason that commerce, internet hosting pop-up occasions together with New York Style Week reveals.
Situated on the nook of Seventh Avenue South and Barrow, the property spans over 4,000 sq. toes, which features a second ground with personal outside house. The positioning has 170 toes of wraparound frontage, in keeping with advertising and marketing supplies.
Colliers’ Zach Redding, Dylan Kane and Sarah Brief marketed the property solely. The property had been asking $6.8 million.
In 2023, TRD reported {that a} Japanese restaurant signed a 15-year lease on the property, however the tenancy by no means materialized after the restaurant’s capital companion backed out of the deal, in keeping with a supply accustomed to the matter.
The Group didn’t reply to a request for remark, and it’s not clear what its plans for the location are but. The Group already operates all three of its manufacturers within the West Village, and a supply accustomed to the deal prompt they could be bringing a brand new idea to the world.
The acquisition comes as eating places navigate an increasingly competitive leasing market, with some hospitality teams turning to ownership in high-demand areas.
A companion at Michelin-starred Italian Rezdôra, for instance, bought the restaurant’s dwelling at 27 East twentieth Road for $7.25 million in 2018, and added two extra properties, at 86 College Place and 12 East twelfth Road, within the final yr.
Proudly owning actual property provides eating places the “flexibility and delight of possession that leasing doesn’t,” Colliers’ Kane mentioned in an announcement.
The previous Sushisamba house is on the identical block as Boucherie West Village (99 Seventh Avenue) and across the nook from Olio e Più and Omakase Room (3 Greenwich Avenue and 14 Christopher Road, respectively). Property information point out that the Group doesn’t personal these present areas.
The Group Hospitality launched in 2010 with its West Village Olio e Più location, and has since expanded to its three manufacturers in a number of cities, together with Miami, Chicago and Washington, D.C. In New York, the restaurant group operates its manufacturers throughout 9 areas.
Regardless of its long-time emptiness, the nook at 87 Seventh Avenue had a brush with fame following repeat appearances by its one-time tenant, Sushisamba, in HBO’s “Intercourse and the Metropolis.”
The clubby Japanese fusion restaurant leased the house in 2000. After changing into a staple on the present, the restaurant turned a go-to vacation spot, to the chagrin of the restaurant’s neighbors.
The Division of Buildings cited the property for overcrowding on the roof, which at that time was adorned with an unapproved makeshift tent, and then-owner Alex Varveris racked up over $8 million in fines from the town as he refused to put in a everlasting construction on the second story and not using a renegotiated lease.
In 2007, Varveris signed a take care of the Landmarks Preservation Fee to pay a fraction of the fines and filed permits for an enclosed roof with the DOB. The second-story house opened later that yr and was operated by Sushisamba till it closed the situation in 2017.
Correction: This text has been up to date to replicate that Sushisamba’s former house final bought in 2018, in a mixed take care of a neighboring residential property.
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