The Real Deal New York

Retail condo leased to celebrity chef Jean-Georges Vongerichten asks $9M

July 22, 2011 10:10AM

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A high-profile Tribeca retail condominium, designed by famed architect Richard Meier and currently leased to celebrity chef Jean-Georges Vongerichten, has hit the market for $9 million, according to Crain’s.

The 23,800-square-foot space at 66 Leonard Street, owned by Yitzchak Tessler of Tessler Developments, is comprised of an 8,000-square-foot ground floor restaurant space and two equally-sized floors beneath. While currently empty, it is being considered for a new restaurant concept by Vongerichten, whose lease expires in 2019. It previously housed Japanese eatery Matsugen.

The space can be delivered empty, Eastern Consolidated, which is marketing the condo, said, or with the option of keeping Vongerichten as a tenant.

“What’s happening here in this corner is exactly what happened in Soho and the West Village 20 years ago,” said Eastern Consolidated senior director David Schechtman. “Large buildings and cavernous ground floors are being converted to high-end residential and retail use, and this is a corner in the epicenter of that action.” [Crain's]

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