The Real Deal New York

From the archives: Iron chefs forge favorable terms

Builders offer concessions to attract boldface names

July 05, 2015 01:00PM
By Catherine Curan

Douglas Durst, 34 East 61st Street and Charlie Palmer

Douglas Durst, 34 East 61st Street and Charlie Palmer

When Douglas Durst decided he wanted a signature restaurant for the Bank of America tower at One Bryant Park, he homed in on a short list of six renowned Manhattan chefs. Among these was Charlie Palmer, who founded his restaurant empire in New York City with Aureole in 1988. Palmer said initially, he felt no urgency to move from Aureole’s brownstone at 34 East 61st Street, and had turned down other offers to do so.

But after talking with Durst over dinner at the restaurant last summer, Palmer decided to hammer out a deal. His stature as a chef with a boldface name and a dedicated following allowed him to negotiate favorable terms, including reduced rent and a reconfigured space. Read the full article from the October 2007 issue after the jump.