Represented Phraya Thai
Phraya Thai Signs Lease for Upper East Side Retail Space
The retail space spans 1,500 square feet and was listed with an asking rent of $180 per square foot. The lease agreement is a significant milestone for Phraya Thai as it expands its presence in the city.
Phraya Thai is known for its authentic Thai cuisine and has gained a loyal following since its opening. The restaurant offers a wide range of dishes, including traditional Thai curries, stir-fries, and noodle dishes. With its prime location on the Upper East Side, Phraya Thai is expected to attract a steady stream of customers.
Nathan Aballi, Solomon Sharaby, and Samuel Chera of KSR played a crucial role in the deal, representing both the tenant and the landlord. Their expertise in the New York City real estate market and their strong relationships with clients helped facilitate a smooth transaction.
Cho Zen, the landlord, is a well-known real estate company with a portfolio of properties in New York City. The company focuses on acquiring and managing retail spaces in prime locations. The lease agreement with Phraya Thai is a strategic move for Cho Zen, as it adds a popular restaurant to its portfolio.
The Upper East Side is a highly desirable neighborhood for both residents and businesses. It is known for its upscale residential buildings, prestigious schools, and world-class museums. The area is also home to a vibrant retail scene, with a mix of luxury boutiques, high-end restaurants, and local businesses.
The lease agreement between Phraya Thai and Cho Zen is a win-win for both parties. Phraya Thai gains a prime location to expand its business, while Cho Zen adds a popular restaurant to its portfolio. The deal is a testament to the strength of the New York City real estate market and the resilience of the retail sector.
Overall, the lease agreement between Phraya Thai and Cho Zen is a positive development for the Upper East Side. It brings a new dining option to the neighborhood and contributes to the vibrancy of the local retail scene. With the expertise of brokers Nathan Aballi, Solomon Sharaby, and Samuel Chera, the deal was successfully executed, benefiting all parties involved.