Bua Thai Ramen & Robata Grill has signed a 4,840 square foot lease at 21 East 16th Street, New York. This expansion complements the restaurant's existing presence at 1611 Second Avenue. The property is owned by David Ellis Real Estate.
The lease term is ten years, and the stated rent for the space was $250 per square foot. The transaction was brokered by Retail by MONA, representing the landlord, and E Realty International, acting for the tenant.
Historic Location with a Future
Brandon Singer, founder and CEO of Retail by MONA, commented on the significance of the location: "Very few restaurant spaces in New York City carry the history and significance of 21 East 16th Street." He emphasised that this spot has shaped Union Square's dining scene for decades. Singer believes that Bua brings the energy, quality, and hospitality needed to write the next chapter of this history.
Max Kreinces, also from Retail by MONA, added that the Union Square market continues to attract operators seeking highly visible locations with strong foot traffic and an established customer base. He sees Bua’s concept as a good complement to both the building and the neighbourhood.
Danny Meyer operated Union Square Cafe from 1985 to 2015 at this historic location before it moved to its current premises at 101 East 19th Street. Currently, the space on East 16th Street is occupied by the Japanese restaurant chain TsuruTonTan. In addition to this leasing, Retail by MONA recently brokered Flight Club, a darts concept by State of Play Hospitality, for the building's corner retail space. Flight Club is scheduled to open this summer.
