Deal highlights commercial appeal of Madison Avenue shopping district
Rosenberg & Estis, P.C., New York City’s premier real estate law firm, has successfully negotiated a 20-year lease for Robin Birley, a developer of posh London clubs, to open a much anticipated dining club at 828 Madison Avenue in Manhattan.
The agreement, which includes an option for a 10-year extension, calls for the club to occupy a two-story, 12,000-square-foot commercial space on the first floor and mezzanine levels at 828 Madison Ave., a luxury condominium tower between East 69th and East 70th streets.
Eric Orenstein, a member of Rosenberg & Estis, P.C. and leader of the firm’s Transactional Department, negotiated the lease on behalf of Reuben Brothers, owner of the Upper East Side building.
The yet-to-be-named dining club’s creation will be subject to community board approvals regarding operations and hours and local permitting reviews. In a deal that Rosenberg & Estis also negotiated, Reuben Brothers, led by David and Simon Reuben, acquired the building’s commercial space last year from Vornado Realty.
Opened in 1926 as the former Westbury Hotel, the 15-story, neo-Renaissance building at 828 Madison Avenue includes corner towers, a three-story limestone base with retail space in the first two floors, Ionic pilasters flanking bays, second-story windows with ornamental lunettes and brick upper floors. Limestone quoins flank its towers.
“With this new lease, an iconic English hospitality operator will make his first American foray in New York City,” Orenstein said. “It’s a big win for the Big Apple,” Orenstein said.
Eric Orenstein |