THISBOWL Expands New York Presence with Fifth Location at 15 Central Park West

Australian eatery chain THISBOWL is continuing its expansion in New York City, securing a lease for its fifth location at 1880 Broadway, within the retail space of the luxury condominium tower 15 Central Park West. The new café, spanning nearly 2,000 square feet, joins existing retail tenants including West Elm.

Strategic Location in Prime Manhattan Real Estate

The retail portion of 15 Central Park West, owned by Global Holdings and Madison Capital, is currently 95% leased. According to Global Holdings leasing head Craig Panzirer, the deal “reinforces the strength of the property as a destination for dynamic, forward-thinking lifestyle brands.” [Source: New York Post]

About 15 Central Park West

15 Central Park West is a 231-unit luxury residential development constructed by Global Holdings in partnership with Zeckendorf Development and Goldman Sachs’ Whitehall Funds. [Source: Global Holdings] Completed in 2008, the building is considered an iconic project in Manhattan, achieving a $2 billion sellout in 18 months. [Source: Global Holdings] The building was constructed on the sites of the former Mayflower Hotel and a vacant lot, acquired in 2004 for $401 million. [Source: Wikipedia]

Other Retail Activity in the Area

In addition to THISBOWL, the area is seeing other retail shifts. The former Manhattan home of the Core Club, located at 66 East 55th Street, is currently for sale for $49 million. [Source: New York Post] The 40,000 square foot property, previously a private members club, includes amenities such as spa facilities and a screening room. A potential purchaser could also exclude a Sweetgreen retail condo on the ground floor to lower the purchase price. [Source: New York Post]

Recent Financial Developments

A $132 million foreclosure judgment was recently signed for the retail space at 15 Central Park West, owned by Fortress, Global Holdings, Zeckendorf, and Madison Capital. [Source: PincusCo]