Many factors go into a restaurant’s decision about where to open, but this one might be uniquely “organic.”
Casual-Italian mini-empire Rosemary’s just signed a lease at the Durst Organization’s 825 Third Ave., a 1960s-era, 535,000 square-foot office tower at East 50th Street now in the midst of a $150 million upgrade program.
Rosemary’s owner Carlos Suarez was drawn to the spot by confidence in troubled Third Avenue’s commercial future and the belief that his eatery is “the perfect fit” for East Midtown –an area he said that “lacked the warmth” of his other locations in the West Village and Stuyvesant Town.
But another “motivating factor” was what Suarez called “an alignment of values” between Rosemary’s and the environmentally-minded Durst family, which is a partner in a foundation that operates McEnroe Organic Farm upstate — one of the state’s largest organic harvest and meat farms.
Rosemary’s parent, Casa Nela Hospitality Group, had its own upstate farm that serviced its restaurants, but closed it a few years ago. The new eatery creates an opportunity for collaboration with the McEnroe farm.
Although there’s no firm deal yet, “We’re heading up there for a meeting on Aug. 5,” Suarez said.
The eatery will have 3,000 square feet with160 indoor seats and 50 more on an outdoor patio. The asking rent was $250 per square foot, according to Durst EVP Tom Bow and senior managing director Ashlea Aaron.
The tower was developed in 1969 by the Durst Organization, then headed by founder Seymour Durst. Improvements include a beautified public plaza with seats and landscaping; a new lobby in white onyx, white onyx, white oak and perforated metal; and advanced, sustainability-driven infrastructure expected to result in LEED Gold certification.
Bow said it’s currently 34% leased to newly-signed tenants such as Toyota Tsusho America, law firm Beveridge & Diamond, National Bank of Egypt and Gotham Asset Management.
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