Dongbei Chinese Restaurant & Bar is expanding with the opening of its fourth location in New York City, and fifth overall. As Commercial Observer has learned, the expanding Northern Chinese culinary concept signed a lease for 2,000 square feet at 63 Cooper Square. The East Village property belongs to Matthew Rettner, as stated by the landlord's broker, Meridian Capital Group.
The asking rent for the space was $21,600 per month. The tenant has secured a 15-year lease. The mid-block commercial space is one of several smaller ground-floor retail units in a residential building on Third Avenue, between St. Marks Place and East Seventh Street.
Daniel Zacaim of Meridian Capital Group commented that Cooper Square does not see much turnover. He emphasised that, with the availability of a ready-to-occupy restaurant space, they desired a tenant who could start operations immediately. Zacaim described Dongbei's operational history as an easy recommendation to the landlord and predicted that this location would be very successful for the restaurant.
Daniel Zacaim represented the landlord alongside Noam Aziz and Carson Shahrabani. David Green and Benjamin Namdar of KSR negotiated on behalf of the tenant. Carson Shahrabani praised the impressive consistency of Dongbei's growth, with four locations in New York and planned expansion into New Jersey. This momentum gave the landlords confidence and ensured that negotiations on both sides proceeded swiftly and smoothly.
Dongbei already operates several locations in Manhattan, including at 953 Columbus Avenue on the Upper West Side, 367 West 36th Street in Midtown, and 17 Ann Street in the Financial District. There is also a branch in Downtown Jersey City. The new opening at 63 Cooper Square underscores the company's growth strategy in prominent urban locations.
