Mogull has a STK in The Grace Deal

Published January 20, 2010

The ONE Group will the open New York City's second STK, the hospitality group's famed "steakhouse with sex appeal," t\in the Grace Building at 42nd Street and 6th Avenue. STK Midtown will be situated on the ground floor of the building, co-owned by Brookfield Properties and The Swig Company, LLC, which houses corporations such as HBO and Interpublic Group. "We are excited about welcoming STK to the Grace Building, and feel it will be a popular dining destination for the building's corporate tenants, as well as Midtown's residents and visitors," said Ed Hogan, national director of retail leasing for Brookfield Properties, which manages the building. STK's lease is for 9,000 s/f of ground-level restaurant space situated on the 43rd Street side of the Grace Building. Kim Mogull of Mogull Realty represented STK in lease negotiations. Brookfield was represented in-house by Ed Hogan. "With the debut of STK at The Grace Building, the downtown vibe has officially entered Midtown in the classiest way possible. This is just the beginning--we're sure to see a wave of downtown restaurants to follow," said Mo gull, noting that STK also leased an outdoor kiosk in the plaza area, where rents are $400 psf. Rents for the restaurant space are $100 psf, according to Mogull. The ONE Group currently owns and operates six restaurants and lounges in New York City and three restaurants and lounges in Los Angeles. The ONE Group also recently opened STK Miami in the Gansevoort South Beach, where it also operates all food and beverage services for the hotel.