Taqueria Hits a Park Avenue Micromarket
A rapidly expanding New York City-based Mexican restaurant chain recently has joined the battle for midtown lunchers’ wallets. Choza Taqueria has inked a 10-year lease at the base of 100 Park Ave., between East 40th and East 41st streets. And although the competition seems fierce, the eaterie’s owners see each block in the area as its own micromarket—with this one being ripe for the taking.
“(East) 41st Street is untapped,” said Ross Burack of Winick Realty Group, who represented Choza, referring to the block where the eatery plans to open this spring. The 1,000-square-foot space, facing East 41st Street at the base of the building, will be the outlet’s third location after opening stores in the West Village and the Flatiron district. The asking rent was $150 per square foot.
In the new space, chef Dominic Giuliano will churn out creations styled after the fare from roadside taco stands in northern Mexico, to office workers who crowd the sidewalks each day at lunchtime. According to Mr. Burack, these workers typically don’t stray far. Instead, they tend to stay within a short radius of their buildings, which is why some restaurants have numerous locations in the neighborhood. Eventually, Choza hopes to not only attract clientele from several class A office buildings in the area, but also draw foot traffic from Grand Central Station, one block north. The hope is to build a loyal following that has already stretched lines out the door of its West Village location, according to Mr. Burack.
Jeffrey Roseman of Newmark Grubb Knight Frank represented landlord SL Green Realty Corp. in the deal.
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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.