Want To Open A Restaurant In Lower Manhattan? Bookmark This List Of Readymade Spaces.
It’s a great time to open a restaurant in New York City, as business owners and real estate agents are predicting deals on rent will lead to a surge of new ventures. One of the huge perks of opening an eatery right now, they say, are so-called “second generation” spaces, real estate that was already built out for a restaurant before that business closed or relocated. That saves new restaurants lots of time and upfront costs adding things like venting and kitchens.
“No one is asking for the kind of rents they did in 2019,” Melt Shop co-owner Spencer Rubin told The City. “That reduction in operating costs and reduced capital costs of opening in second-generation restaurant spaces means that New York is preparing for one of the best opportunities for restaurant openings in a long time.”
For those interested in the dining scene below Chambers Street, the Downtown Alliance has compiled a spreadsheet of all the available second-generation spaces on the market right now in the neighborhood. You can find information about the total square footage, the previous tenant and what kind of build-out it has, along with broker contact information and other notes.
The list has about 40 locations, ranging from 600 square feet to 11,000 square feet. Maybe you’ll be featured on this page before too long.