Newmark Knight Frank (NKF) is pleased to announce that its client, Stefan Mailvaganam, has signed a 10-year lease to open the latest location of Vanguard Wine Bar at 252 West 51st Street in Midtown West. The 1,500 square foot wine bar is located near the busy Eighth Avenue Theater District. The new location is expected to open on September 7, 2018.
Newmark Knight Frank Director Harrison Abramowitz of the firm’s New York City office represented the owner, Mailvaganam, while Sean Moran, Molly Sandza and Steve Soutendijk of Cushman & Wakefield represented the landlord, 51st-Capitol Associates, LP. Rent terms for the deal have not been disclosed.
“Midtown West is a vibrant food and drink destination catering to theatergoers, tourists and corporate office workers,” said Abramowitz. “The rise of new residential buildings and influx of young professionals has made this heavily trafficked corridor an ideal spot for Vanguard’s newest location.”
Vanguard’s first location is rated a “Critic’s Pick” by New York magazine. The restaurant serves “French and American” small plates and features a robust by-the-glass wine list comprised of both Old World and New World wines.
Mailvaganam opened the first Vanguard Wine Bar in Kips Bay in late 2012 followed by locations on the Upper West Side in 2014 and Upper East Side in 2016. Mailvaganam is also the co-owner of Bar Veloce in Greenwich Village.
About Newmark Knight Frank
Newmark Knight Frank, operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals serve from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
