Hao Noodle & Tea Leases Greenwich Village Retail Space for First North American Restaurant
Walter & Samuels announced today that Hao Noodle & Tea has signed a 10-year lease, with a five-year renewal option, for 4,800 square feet of retail space at 401 Sixth Avenue between Greenwich Avenue and Waverly Place in the heart of Greenwich Village for its first North American restaurant location.
According to Walter & Samuels Chairman David I. Berley, who has owned the two-story building for over 30 years, the location features 2,400 square feet of ground-level retail space with soaring ceilings and an open kitchen, as well as 2,400 square feet in the basement and 27 feet of prime frontage.
The restaurant, whose owner has a popular brand of restaurants throughout China, will offer a fresh and natural concept that includes organic traditional Chinese noodles and tea served in a tranquil setting designed with a blend of Chinese and Western elements.
“We welcome the opportunity to provide an exciting new restaurant like Hao Noodle & Tea with its foothold in the U.S.,” said Berley, who in recent months leased Flatiron District space to popular Parisian rotisserie Le Coq Rico for its first U.S. location.
As an owner of Manhattan retail for almost 50 years, Berley has leased space to many fine restaurants, from Tony May to Quo Vadis. Added Berley: “I’ve been a Chinese food lover since my boyhood in Brooklyn. This is the next best thing to opening my own Chinese restaurant.”
Asking rent for the retail space was $200 per square foot. Lee Block, Dana Albert and Ross Burack of Winick Realty Group represented Walter & Samuels in the transaction while John C. Cinosky of ATCO represented the restaurant.
“Hao Noodle & Tea will benefit from a vibrant residential neighborhood and close proximity to NYU,” said Lee Block of Winick Realty Group, who noted that the restaurant plans to expand across the East Coast. “This was the right location for the restaurant to establish itself in New York.”
401 Sixth Avenue is located in proximity to several subway lines and area businesses, including CitiBank, Chipotle, Duane Reade, Urban Outfitters, Staples, Starbucks, Citarella, Pandora, Ricky’s and The New York Public Library.
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Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services. Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies. Winick Realty Group is highly recognized as a forerunner in the retail real estate market.