This rare opportunity at 72 Kenmare Street provides a fully built-out restaurant space with a prime location in the Nolita neighborhood of Lower Manhattan. The space spans a total of 644 square feet on the ground floor with an additional 480 square feet on the basement level. The space is currently occupied by Japanese restaurant, SAITO, and will be delivered in excellent condition.
The lease at 72 Kenmare Street runs through the end of January 2031, with an included renewal option for an additional five years. This allows restauranteurs to secure premium space for their operations with fantastic lease terms. The monthly rent for a term beginning in 2025 is just $11,845.79, with 3% annual increases. Key money for the lease assignment totals $180,000.
Nolita, short for "North of Little Italy," is a charming neighborhood in the Lower Manhattan neighborhood of New York City. Bounded by Houston Street to the north, Bowery to the east, Broome Street to the south, and Lafayette Street to the west, Nolita offers a unique blend of historic charm and modern flair. As of the latest data, Nolita has a population of approximately 6,000 residents. The neighborhood is known for its diverse and affluent community, with a median household income notably higher than the New York City average. This affluence is reflected in the area’s upscale boutiques, trendy eateries, and well-maintained residential buildings. Nolita boasts a rich cultural tapestry, influenced by its Italian American heritage and contemporary urban lifestyle. The neighborhood’s streets are lined with historic buildings, art galleries, and independent bookstores, offering residents and visitors a vibrant cultural experience. The neighborhood is a culinary hotspot, home to several acclaimed restaurants, including Lombardi’s Pizza, The Musket Room, and Estela.
