Danny Meyer shacks up with Vornado at Penn Station

Popular burger chain taking 2,500 sf in station's underground concourse

New York /
Apr.April 06, 2016 09:02 AM

Can I get an expensive burger with my commute? The answer will soon be yes — Shake Shack inked a 10-year lease for a 2,500-square-foot space at Vornado Realty Trust’s retail corridor at Penn Station.

The popular burger chain, founded by restaurateur Danny Meyer, will open in the station’s underground concourse.

Asking rents were $500 per square foot, according to the New York Post.

CBRE’s Andrew Goldberg, Matt Chmielecki and Preston Cannon represented Shake Shack, and Ed Hogan represented Vornado, in-house, the tabloid reported.

In October, The Real Deal reported that Meyer‘s Shake Shack was checking out a 11,500-square-foot, two-story building at 661 Driggs Avenue in Williamsburg.

Vornado has been upping the retail and food game at Penn Station with the opening of Pennsy, an upscale 8,000-square-foot Food Court at 2 Penn Plaza, once the home of Borders.

In its March issue, The Real Deal took a look at Vornado’s investment in the area, where the real estate investment trust owns 8 million square feet of office and retail space. [NYP, 2nd]Dusica Sue Malesevic


Related Articles

arrow_forward_ios
Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)
Free and clear: Vornado pays off debt at 220 CPS
Free and clear: Vornado pays off debt at 220 CPS
Vornado chairman and CEO Steven Roth, and 608 Fifth Avenue (Credit: Getty Images)
“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call
“Negative surprises”: Vornado execs talk retail struggles on Q2 earnings call
Steven Roth, CEO of Vornado and 640 Fifth Avenue (Credit: Getty Images and Vornado Realty Trust)
Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue
Bank of China issues $500M to Vornado in refi of 640 Fifth Avenue
478-482 Broadway and 155 Spring Street with KPG Funds founders Gregory Kraut and Rod Kritsberg (VNO, KPG)
Office developer is buyer of Vornado’s Soho buildings
Office developer is buyer of Vornado’s Soho buildings
Andrew Cuomo with the Port Authority Bus Terminal, Penn Station, and AirTrain JFK (Getty, ajay_suresh via Flickr, Ad Meskens/Wikimedia)
Three key Cuomo projects now on Kathy Hochul’s plate
Three key Cuomo projects now on Kathy Hochul’s plate
Governor Kathy Hochul (Getty, iStock)
Kathy Hochul faces tough decisions on real estate
Kathy Hochul faces tough decisions on real estate
Vornado CEO Steve Roth and 770 Broadway (VNO, Wegmans)
Wegmans to replace Astor Place Kmart
Wegmans to replace Astor Place Kmart
Joe Tsai and 220 Central Park South (Getty)
Joe Tsai revealed as buyer in $157M 220 Central Park South condo deal
Joe Tsai revealed as buyer in $157M 220 Central Park South condo deal
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...