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345 Park Avenue

Cyril Lignac Signs Lease For Bar Des Pres At 345 Park Avenue With Rudin Management Company
LEASEDRetail

Cyril Lignac Signs Lease For Bar Des Pres At 345 Park Avenue With Rudin Management Company

345 Park Avenue

Building Size

22,000 SF

Asset Type

Retail

Closing

Apr 5, 2026

AI

The property involved in this transaction is located at 345 Park Avenue, Manhattan. It is a retail asset with a total area of 22,000 square feet, specifically situated on the ground floor. This property is set to debut in 2027.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 345 Park Avenue
  • Market: Manhattan
  • Landlord: Michael Rudin & Samantha Rudin Earls - Rudin Management Company
  • Tenant: Cyril Lignac

This transaction involves Michelin-starred French chef Cyril Lignac, who is opening his first New York outpost, Bar des Pres, within this retail space. The deal illustrates a significant addition to the culinary landscape of Manhattan as it will include two other concepts in the same location.

Players

Samantha Rudin Earls

Rudin Management Company

Broker

$949.9M

vol

12 deals

Broker

Michael Rudin

Rudin Management Company

Landlord

$2B

vol

22 deals

Landlord
Cyril Lignac

Cyril Lignac

Tenant

1 deal

Tenant

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93