Alicart Group's Tasty Trek to a New Space Near Times Square
Company: Alicart Restaurant Group
Building: 1430 Broadway
Lease Term: 10 + years
Lease Type: New Direct Lease
Delivery conditions: New Building Installation
Landlord: Steinberg & Pokoik
The Challenge
The Alicart Group manages the administrative functions for renowned restaurants including Carmines, Virgil’s, and Mermaid. They were determined to secure one of the most competitively priced leases within close proximity to Carmines in Times Square. Their needs included better economic terms, the ability to expand, a long-term lease, and a building quality upgrade.
The Solution
The solution was found at 1430 Broadway—a corner unit in a 350,000+ square foot building located at the intersection of Broadway and 40th Street. The landlord agreed to construct a brand-new, custom-made space tailored to the Alicart Group’s specifications.
The Outcome
After previously orchestrating a move into a smaller sublease space, this latest relocation enables Alicart to consolidate all their employees into a more spacious and upgraded office. This new office is located on the 22nd floor of 1430 Broadway, offering 7,000 square feet of raw space. The strategic position near Times Square perfectly supports their operations, enhancing both business efficiency and employee cohesion. The ten-year lease includes the landlord delivering a custom new building installation, ensuring the space is perfectly tailored to meet Alicart's specific needs.
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