Danny Volk, Marc Johnson and Kayla Terzi of Vantage Real Estate Advisors, on behalf of Regal Ventures, arranged a 15-year lease at 25 Broad St. with acclaimed restaurateurs Stylianos Kakavelis and Jake Schneider of SK Hospitality Group. The group will take over a 15,000-square-foot bi-level restaurant space at The Broad Exchange Building, formerly home to Bobby Van’s Steakhouse.
The lease at the primarily residential building reinforces the Financial District’s transformation into a dynamic, lifestyle-driven neighborhood, according to Vantage. SK Hospitality’s plans include a full-service Pan-Asian restaurant on the ground floor and, on the lower level, an upscale Latin fusion restaurant and lounge that incorporates the space’s historic walk-in bank vault.
Vantage said that with an asking rent of $1.0 million per annum, the transaction reflects the growing demand for experiential dining destinations in Lower Manhattan. The venue is slated to open later this year.
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