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
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