Real Estate

NYC’s office restaurants have never been more appetizing

New office-tower restaurants are a defining theme of the rebounding industrial market — and their upscale fare is pink haute.

There are Daniel Boulud’s just-opened Le Pavillon at SL Green’s One Vanderbilt, Daniel Humm’s deliberate luxurious eatery at L&L’s 425 Park Ave. and Danny Meyer’s upcoming Ci Siamo at Brookfield’s Manhattan West.

A large new outpost of Greek favourite Avra is coming to Rockefeller Group’s rebooted 1271 Sixth Ave. Vornado Realty Trust plans to launch a full-service restaurant known as The Landing inside Penn 1, the place it’s making a “WorkLife” facilities bundle for brand new tenants.

Those venues, in addition to Nobu at 195 Broadway and the Grill and Pool on the Seagram Building, all are distanced from the primary parts of the towers of which they’re an element — both with separate aspect entrances, divider partitions or by requiring lengthy walks from the areas the place office tenants enter.

But at 1740 Broadway, proprietor EQ is more carefully integrating its office features with a tremendous restaurant than every other landlord has accomplished in Manhattan.

Mediterranean-style, 115-seat Iris, helmed by Michelin-starred chef John Fraser, is so seamlessly woven into the foyer that tenants and shoppers arriving to satisfy them may mistake the bottom flooring for that of a lodge.

The lobby at 1740 Broadway.
Chic new restaurants entice New Yorkers again to the office. Here’s Iris’s foyer and bar space at 1740 Broadway.
Chris Ozer

“I don’t think this has ever been done before,” mentioned EQ senior vice-president Simon Wasserberger. “The restaurant, the business lobby and our private tenants’ club The Mezz on the mezzanine are all conceived as a single space. So imagine being able to meet your customers, partners and investors in this space and have them greeted as they would be in a high-level hotel.”

However, the 5,000-square-foot restaurant is completely open to the general public, with a sidewalk entrance as effectively. With a menu emphasizing dishes from Greece and Turkey, it’s presently open for dinner solely however will open for lunch quickly.

The smooth and cozy design contains wealthy wooden accents and enormous spherical cubicles. Fraser, who earned accolades on the Times Square Edition’s Terrace restaurant, Nix and the Loyal amongst others, shall be in control of all of the edibles within the tower. His company operates Iris and the opposite meals amenities beneath a 10-year administration contract with EQ.

An exterior shot of 1740 Broadway.
The splashy eatery is open to the general public at 1740 Broadway.
Chris Ozer

Like numerous different older properties, the 600,000-square-foot tower’s house owners and brokers are at battle stations as they scramble to fill all or a lot of the office area as earlier tenants transfer out.

At landmark-quality 1740 Broadway, opened in 1950 and designed by Empire State Building architects Shreve, Lamb and Harmon, EQ is making ready for the exit of L Brands in 2021.

Iris opened far forward of that point as a result of, “Replacement tenants are in the market now,” Wasserberger mentioned.

“The restaurant is our marketing campaign. I couldn’t get it open soon enough,” he added.

Many older buildings in Midtown and FiDi are present process capital enhancements to compete with newer product. Part of the development is what Wasserberger known as “an amenities arms race” as house owners primp up properties with well being golf equipment, tenants-only meals courts and different options.

But not all campaigns are equal.

“When it fails, it’s because they’re just box-checking some conveniences. For it to work, it must all work together,” he mentioned.

Therefore, 1740 Broadway’s Iris “is integrated into the entire life of the building,” Wasserberger mentioned.

“If you’re having a meeting in the building, you can have it catered by a Michelin-star chef. Under our contract with Fraser, he’s keeping a database on all our tenants and their preferences.”

If you’re having a meeting within the constructing, you may have it catered by a Michelin-star chef.

Simon Wasserberger, EQ senior vice chairman

Of course there are skeptics. One landlord whose buildings don’t have restaurants and didn’t wish to be named snickered: “Everybody’s bringing in restaurants because they think they give buildings an identity, the way the old Four Seasons did at Seagram and Le Bernardin does at 787 Seventh Ave. But restaurants can be difficult to have as tenants, and if a building is any good, you don’t need them.”

But immediately’s office tower zeitgeist clearly adores a restaurant — particularly a great one.

Asking rents at 1740 Broadway shall be within the $70s and $80s per sq. foot. A CBRE workforce together with Mary Ann Tighe and Howard Fiddle is the leasing agent, together with EQ’s Wasserberger and Scott Silverstein in-house.

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