Dongbei Chinese Restaurant & Bar is opening its fourth location in New York City and its fifth overall, Commercial Observer has learned.
The growing Northern Chinese dining concept signed a 2,000-square-foot lease at 63 Cooper Square, an East Village property owned by Matthew Rettner, according to landlord broker Meridian Capital Group.
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Asking rent for the space was $21,600 per month, and the tenant signed a 15-year lease. The midblock site is one of several small commercial spots on the ground floor of a residential building along Third Avenue between St. Marks Place and East Seventh Street.
“Cooper Square doesn’t have a ton of turnover, so when a turnkey restaurant space becomes available there, we want a tenant who can hit the ground running,” Meridian’s Daniel Zacaim said in a statement. “Dongbei’s operating history made this an easy recommendation to the landlord, and I think this location is going to perform very well for them.”
Zacaim represented the landlord alongside Noam Aziz and Carson Shahrabani, while David Green and Benjamin Namdar of KSR negotiated on behalf of the tenant.
The KSR brokers did not immediately respond to a request for comment.
“What’s impressive about Dongbei is the consistency of their growth — four locations in New York plus a New Jersey expansion in the works,” Shahrabani said in a statement. “That kind of momentum makes landlords comfortable, and it made this negotiation move quickly and smoothly on both sides.”
Dongbei has Manhattan locations at 953 Columbus Avenue on the Upper West Side, 367 West 36th Street in Midtown and 17 Ann Street in the Financial District, as well as a spot in Downtown Jersey City.
Mark Hallum can be reached at mhallum@commercialobserver.com.
Dining and Cooking