The ownership company behind the well-known New York restaurants Friedman’s Restaurant and Pastrami Queen has acquired a retail co-op on Manhattan’s Upper West Side. This is with the intention of establishing a new restaurant there. This is according to information from the Commercial Observer.
The restaurant group, operating under the LLC Mountain View Acquisition, purchased the 5,000 square foot retail unit at 541-555 Amsterdam Avenue for US$4.1 million. This was confirmed by the buyer's representative, Lee & Associates NYC.
The location currently houses Barney Greengrass, a long-established Upper West Side restaurant and fish store, as well as Hudson & Charles, a butcher shop also offering sandwiches and groceries. Both businesses will remain in their current locations after the sale's completion, as stated by Lee. The new owner plans to open another Friedman’s Restaurant branch in the already vacant unit of the retail co-op.
At least seven Friedman’s locations already exist in Manhattan, including the original site in Chelsea Market. The chain offers a variety of food and drinks, including breakfast classics, sandwiches, and burgers.
Peter Braus of Lee & Associates NYC, who represented the buyer, stated that the group is expanding its presence in a top Upper West Side location, while simultaneously keeping a New York institution intact and operating for years to come.
Brandon Polakoff of Avison Young represented the seller, a family LLC operating as 176 West 87th Leasehold. Polakoff did not immediately respond to a request for comment from the Commercial Observer.
