An expected move of Eataly’s corporate headquarters closer to its flagship Italian market at 200 Fifth Ave. remains “pending,” raising questions about whether it’s somehow due to delay at its 41,000 square-foot satellite at 4 World Trade Center.
The great Italian food market/restaurant complex is poised to move its offices to 45 W. 23rd St., next door to 200 Fifth. It will grow to 14,000 square feet from 3,000 square feet at 45 E. 20th St., and hopes to move this summer.
The relatively small deal was widely expected to have closed by now. Could the fact that it hasn’t be related to Eataly’s continued, frustrating inability to take possession at 4 WTC, where Mario Batali, Joe Bastianich and company are itching to start work?
An Eataly rep didn’t respond to questions on Monday. As my colleague Lois Weiss and I reported on April 8, WTC master lease-holder Westfield has yet to turn the keys over to Eataly — and to other retail/food tenants that have signed leases in the complex.
The WTC holdup apparently had to do with a dispute between Westfield and the Port Authority over whether or not construction was complete.
But as the stalemate drags on, some brokers have begun buzzing over how much of its 365,000 retail space Westfield has actually leased — suggesting it’s far less than the 90 percent Westfield claims.
By this theory, Westfield is reluctant to open its retail areas “in stages,” as it says it plans to do, because too much space has yet to be rented.
Westfield spokesperson Katy Dickey rejected that completely, stating, “The project is 90 percent leased,” but “Spaces have not yet been delivered to Westfield.” A Port Authority source, however, claimed the agency had turned over the Eataly space, at least, in February.
Two senior Westfield development executives deeply involved at the WTC, John Genovese and George Giaquinto, left the project, and the company, earlier this year. Dickey denied that their departures had hobbled leasing.
Westfield has 365,000 square feet of retail space available at the WTC, including in lower floors of 3 and 4 WTC, the Transportation Hub Oculus and underground concourses.
Publicly traded Westfield said in February the space “is now over 90 percent leased.” Asked whether that might refer to percentage of storefronts rented as opposed to floor area, Dickey said, “incorrect.”
However, Westfield has steadfastly declined to name all its signed tenants, although it announced leases with Michael Kors, Hugo Boss and John Varvatos.
Prowling: While brokers buzz about lots of unspecified financial services firms kicking tires around town, at least one truly is. Wells Fargo, which is now at 375 Park Ave. among several other locations, has an RFP out for a 250,000-plus square-foot requirement. “They’ve looked at the Far West Side and everywhere,” said a source.
Every big new luxury condo-rental apartment tower deserves its own little Italian trattoria.
Recently topped-off 400 Park Ave. S. will have the city’s fifth Taralluci e Vino on its East 28th Street side.
The eatery will have 2,023 square feet indoors plus 1,100 square feet outdoors, said Eastern Consolidated’s Brad Cohen, who represented landlord Equity Residential. (Equity owns the tower’s rental portion, while Toll Brothers City Living is the developer of higher-floor condos).
The tenant was repped by independent Neal Cabot Ohm.
Cohen said the asking rent was $180 a square foot for the interior space. The outdoor area “becomes a bonus,” he said.