Curtain closes on the Four Seasons at
280 Park

The high-end restaurant took on sizeable debt for relocation and was hit with a #MeToo scandal

TRD New York /
Jun.June 10, 2019 11:15 AM
The Four Seasons at 42 East 49th Street and Four Seasons managing partner Alex von Bidder (Credit: Four Seasons Restaurant)

The Four Seasons at 42 East 49th Street and Four Seasons managing partner Alex von Bidder (Credit: Four Seasons Restaurant)

If the Four Seasons can’t make it, who can? That’s the question weighing on the minds of many high-end restaurateurs and landlords following the news that the power lunch institution is going to close for good on Tuesday.

The Four Seasons was betting on being able to pull in enough customers to fill their 299-seat dining room, but fell short. Even on the final Saturday the Four Seasons was open, some tables were empty, according to the Wall Street Journal.

Managing partner Alex von Bidder said that investors had made the decision to close. “We were not doing enough business to satisfy them,” he said, according to the New York Times.

The restaurant took out close to $40 million in debt to open at SL Green Realty and Vornado Realty Trust’s 280 Park Avenue, not long after Aby Rosen booted them from the Seagram Building.

Another possible explanation for the restaurant’s recent fizzle is the bad optics its managing partner Julian Niccolini received when he pleaded guilty to a misdemeanor assault charge in connection to a female customer. The Four Seasons moved to distance itself from Niccolini, firing the previous co-owner in 2018, but the public is not so quick to forgive in the age of #MeToo.

Industry professionals also say that younger consumers are less interested in the idea of a “power-lunch,” and favor more casual options. Some restaurants are making the move to food halls, where the rent is much more reasonable. Greenwich Village Italian restaurant Dell’anima closed when it faced a 35 percent renewal increase, only to reopen in a West Midtown food hall.

As for Rosen, he still remains bullish on fine dining. His replacements at the Seagram Building, the Grill and the Pool, have received strong reviews, and he recently announced that Le Jardinier led by chef Alain Verzeroli will anchor his condominium tower at 100 East 53rd Street. Rosen also said earlier this year that he would be bringing a restaurant to the Chrysler Building, which he recently bought with partner Sigma Holding GmbH for $151 million. [WSJ, NYT] — Georgia Kromrei


Related Articles

arrow_forward_ios
Aby Rosen and Lever House at 390 Park Avenue (Credit: Getty Images, Google Maps)

Aby Rosen hands over Lever House to Tod Waterman and Brookfield

Aby Rosen hands over Lever House to Tod Waterman and Brookfield
Aby Rosen of RFR Realty and the Chrysler Building (Getty; iStock)

Aby Rosen is bringing back the Chrysler Building’s observation deck

Aby Rosen is bringing back the Chrysler Building’s observation deck
Beny Steinmetz and a rendering of The XI at 76 11th Avenue (JACK GUEZ/AFP via Getty Images; BIG)

Mining company asks court to reveal Beny Steinmetz’s NYC real estate plays

Mining company asks court to reveal Beny Steinmetz’s NYC real estate plays
Aby Rosen and the Chrysler Building (Credit: Lev Radin/Pacific Press/LightRocket via Getty Images)

Aby Rosen seeks to rework Chrysler Building ground lease

Aby Rosen seeks to rework Chrysler Building ground lease
RFR Realty’s Aby Rosen with 1600 Broadway and 900 Third Avenue (Credit: Getty Images, Google Maps)

Aby Rosen ditches $600M in building buys

Aby Rosen ditches $600M in building buys
The Chrysler Building and Aby Rosen (Credit: Rosen by Sean Zanni/Patrick McMullan via Getty Images)

Retail tenants disappearing from Chrysler Building

Retail tenants disappearing from Chrysler Building
RFR Realty's Aby Rosen, 900 Third Avenue, and Paramount's Albert behler (Credit: Getty Images, Google Maps)

Aby Rosen in talks to buy Paramount’s East Side tower for $400M

Aby Rosen in talks to buy Paramount’s East Side tower for $400M
RFR Realty's Aby Rosen, Brookfield's Ric Clark and the Lever House at 390 Park Avenue (Credit: Getty Images and Google Maps)

Aby Rosen’s new landlords move to take control of Lever House

Aby Rosen’s new landlords move to take control of Lever House
arrow_forward_ios

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

Loading...