Commercial Real Estate & Advisory

Asian Eatery Cooks Up Deal In NoMad

By Adrianne Pasquarelli | November 5, 2014

Chop-Shop picks a quiet spot on West 24th Street. Its owners have been looking for a location with a similar feel to its first outpost, on 10th Avenue in Chelsea.

Asian eatery Chop-Shop is slicing up a new location. The two-year-old restaurant signed a 15-year lease for 1,600 square feet at 41 W. 24th St., between Broadway and Sixth Avenue. Asking rent for the deal, which includes a 650-square-foot basement, was $146 per square foot.

Chop-Shop, founded by partners including Danny Emerman and Mah Chan of Bottino Restaurant fame, opened its first location two years ago in Chelsea on Tenth Avenue. Since then the owners have been looking for a location with a similar feel.

“A NoMad side street was the perfect location,” said Steve Rappaport, the Sinvin Real Estate broker who represented the tenant. “It has the same cool, slightly off-the-beaten track vibe as their original store.”

He noted that like Tenth Avenue, NoMad is on the cusp of prices but not there yet. However, rents have increased dramatically due to popular area destinations such as Eataly, just west of Madison Square Park. Several retailers have recently set up shop in the area as well, including Rent the Runway and Lego.

The new restaurant is expected to open in six months. Michael Azarian of Massey Knakal Realty Services represented landlord GRJ.