Restaurant Chain Opens New Manhattan Location
After the closing its Lower East Side eatery, Calexico will occupy 4,700 square feet in a mixed-use East Village property owned by MGM Management.
By Corina Stef
99 2nd Ave.
MGM Management has signed Calexico to a 4,700-square-foot, 10-year lease at a mixed-use building in downtown Manhattan. The Cal-Mex restaurant chain has closed its Lower East Side location in order to move to the East Village, planning to take up space in the asset’s ground floor and basement. The restaurant will open in the first quarter of 2019 and the asking rent was $25,000 per month. Calexico’s New York City footprint includes four storefronts, a cart in SoHo and a Barclays Center outpost.
According to PropertyShark, the five-story building totals 8,400 square feet. It is situated at 99 2nd Ave. near bars, cafes, retailers and theaters. Multiple bus stations and the Astor Place subway station are within walking distance.
Newmark Knight Frank Managing Director Jared Lack, who recently brokered a retail lease for a seafood chain in the Kips Bay neighborhood, represented the landlord in the transaction. Tower Brokerage Managing Director Hazm Aliessa acted on behalf of the tenant.
“The East Village is a prime location for a restaurant and 99 2nd Ave. is in the thick of the downtown restaurant scene with a large amount of foot traffic,” an MGM Management representative said in a prepared statement.
Image via Google Street View
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