Numerous new restaurant leases are “bringing vibrancy back” to downtown, according to a new CBRE survey.
The study said streets were “noticeably busier” over the summer and argued that over 100 recently signed restaurant leases bode well for the future of the district.
The restaurant boom is undeniably good news in Times Square, as well as parts of East Midtown and Midtown South (not included in the report), where more white-collar workers are employed
back to the desk – if not on Friday.
CBRE noted that numerous restaurants are opening on Lexington Avenue “in parallel with the strong office market on Park Avenue,” where availability is just 10.7%, compared to the mid-city average of 19.6%.
Many of the planned openings were first reported in this column.
These include Jean-Georges Vongerichten’s Four Twenty Five, appropriately located at 425 Park Ave.; Simon Kim’s Asian-inspired venues at 550 Madison Ave.; Michael White’s Italian eatery at 520 Madison Ave.; and David Burke’s Park Avenue Kitchen at 277 Park Ave.
So many new restaurants are scheduled to open in the next six months that it’s difficult for even a long-time industry observer to keep track.
The attack is underway.
Monte Carlo-based Rampoldi at 49 W. 64th St. and Chef Franklin Becker’s Point Seven in the Met Life Building, both large eateries, opened last week after the reborn Delmonico’s at 56 Beaver St. in FiDi.
In the works are massive Taiwanese spot Din Tai Fung in the former Mars Room at 1633 Broadway; Simon Oren’s Acadia at 101 W. 57th St.; and Aqua Group’s massive Italian-Japanese combo at 902 Broadway in Nomad
But CBRE also notes that new restaurants haven’t yet restored as much “vibrancy” to downtown, where office availability is a staggering 28%.