SK Hospitality Group Signs 15-Year Lease At 25 Broad Street In Manhattan For $1M/year

The retail asset located at 25 Broad Street is situated in Manhattan’s Financial District. This property spans an area of 15,000 square feet and has an asking rent of $1,000,000 per year. SK Hospitality Group has secured a 15-year lease for this space, which was previously occupied by Bobby Van’s Steakhouse.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,000,000/year
• Lease Term: 15 years
• Landlord: Regal Ventures
• Tenant: Stylianos Kakavelis & Jake Schneider - SK Hospitality Group
• Brokers: Danny Volk, Marc Johnson & Kayla Terzi - Vantage Real Estate Advisors

The landlords, Regal Ventures, are engaging in a long-term commitment with SK Hospitality Group, who plans to open two distinct restaurant concepts in the leased space: a modern pan-Asian concept and a Latin fusion lounge. The brokerage team from Vantage Real Estate Advisors was instrumental in facilitating this transaction.