Baekjeong Black Leases Bi-Level Restaurant Space In Midtown Manhattan From Burnett Equity

The asset involved in this transaction is a hotel located at 49 West 32nd Street in Midtown Manhattan. The property features an 8,000 square foot bi-level restaurant space, which includes two separate dining experiences. The modified gross lease is notable for its unique dining concepts, with Yangban providing a cocktail bar on the ground floor and Baekjeong offering a full Korean barbecue experience on the upper level.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: Not disclosed
• Address: 49 West 32nd Street
• Market: Midtown Manhattan
• Landlord: Burnett Equity
• Tenant: Baekjeong Black
• Broker: Danny Volk, Marc Johnson & Kayla Terzi - Vantage Real Estate Advisors
• Lease Type: Modified Gross Lease

The deal was facilitated by the brokerage team of Danny Volk, Marc Johnson, and Kayla Terzi, representing Vantage Real Estate Advisors. Each broker played a significant role in bringing together the landlord, Burnett Equity, and the tenant, Baekjeong Black, to secure this leasing arrangement for the bi-level restaurant space.