The rooftop bar at 230 Fifth Avenue is all the rage to many Manhattanites — so much so that the owners of the establishment are going to give it another shot in the Garment District.
Rooftop Hospitality Group leased 15,000 square feet at GFP Real Estate’s 520 Eighth Avenue, Jeffrey Gural’s firm announced this week. Asking rent on the 20-year lease was not disclosed, though it was below typical retail rates, according to the Commercial Observer.
The space is being billed as a restaurant and lounge and will echo some of the hallmarks that make 230 Fifth Avenue one of the most popular rooftop bars in New York City: The space is expected to provide views of Midtown South and Times Square.
RHG plans to install a floating deck system, kitchen space and restrooms for guests. The restaurant will have a dedicated entrance on 36th Street and GFP is extending one of the elevators to reach the roof, which will have two elevators servicing the lounge.
A rooftop spot has more cache in the evening, but there’s a plan to utilize the space during the day, too. The rooftop can serve as a meeting or amenity space for office tenants, which GFP hopes will lure more companies to lease space as landlords try to upgrade their properties.
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GFP’s David Kaye and Matthew Mandell represented both sides in the lease. The restaurant and lounge is expected to open in early 2025.
RHG’s 230 Fifth Avenue location is the largest rooftop bar in New York City, spanning 33,000 square feet. The bar isn’t hard to miss on social media, bubbling up on visitors’ profiles as consumers sip on seasonal cocktails year-round and huddle up in heated igloos during the cold winter months.
GFP has owned the 25-story, 860,000-square-foot 520 Eighth Avenue since the 1970s. Tenants at the property include Entertainment Benefits Group, the Mason Tenders’ District Council Welfare Fund and Ripley-Grier Studios.