The Russians are coming

<i>Russian restaurateurs turn to New York City, opening eateries and eyeing future locations</i>

Leslie Siben
Leslie Siben, a broker at JDF Realty, at 41 West 57th Street
From the September issue: Forget the Tea Room. There’s a new wave of Russian restaurants coming to Manhattan, driven by economic and political uncertainty in Europe, a weak U.S. dollar, and the allure of New York’s high-profile restaurant scene. With long-term leases and multimillion-dollar renovation budgets, more and more Russians are saying “da” to New York.

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“[These restaurants] are all high end,” said Marlen Kruzhkov, an attorney and partner with Gusrae, Kaplan, Bruno & Nusbaum in New York. Kruzhkov represents three Russian restaurant groups with plans to open a combined 12 to 18 restaurants in Manhattan in the next two years.

“They’ve invested lot of money in real estate and build-outs; they have long-term plans,” he said. “These are serious leases at long-term values. They’re here to stay.” [more]

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