Newmark Retail arranged a 13,900-square-foot lease for Stout NYC at 373 Park Ave. South in Manhattan’s NoMad neighborhood. The transaction marks the gastropub operator’s fifth Manhattan location and first on Park Avenue South.
Executive Vice Chairman Ariel Schuster, Senior Managing Director Michael Paster and Associate Jenna Kestan represented ownership, a joint venture between Olmstead Properties and Vertex, alongside in-house representatives Steven Marvin and Jonathan Bock. Henry Rossignol of CBRE represented the tenant..
Formerly occupied by Dos Caminos for more than 20 years, the leased premises comprise approximately 6,500 square feet on the ground floor, 7,310 square feet on the lower level and an additional 90-square-foot mezzanine space.
“Stout has built a strong reputation in New York over the last two decades, and opportunities for large-format, second-generation restaurant space along Park Avenue South are increasingly limited,” said Steve Marvin, Executive Managing Director & Partner, Olmstead Properties. “The operator was an excellent fit for both the building and the neighborhood, and this lease reflects continued demand from established food-and-beverage users seeking highly visible locations in Midtown South.”
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