Commercial Real Estate & Advisory

Glanzberg Pours Gravy Into New Space on Flatiron’s Restaurant Row

By Daniel Geiger | February 16, 2011

A group of executives from the Glazier Group, a powerful restaurant operating company in Manhattan that declared bankruptcy late last year, have spun off on their own and opened a sizeable new eatery at 32 East 21st Street.
The new restaurant, called Gravy, is an urban take on southern cooking that brings sophistication to the style, according to MICHAEL GLANZBERG, an executive at the real estate retail brokerage Sinvin Real Estate who handled the deal on behalf of both the tenant and landlord.

The new venue is taking about 7,000 square feet and is set to open in March or April, Glanzberg said.

Michael Vignola will be the Gravy’s executive chef, according to materials released by the restaurant’s marketing firm. Vignola was the former head at Michael Jordan’s The Steakhouse, a popular eating spot in Grand Central Terminal that is owned by the Glazier Group. Other former Glazier executives include Kenneth Halberg, who will be Gravy’s director of operations and Andrew Barnett, the eatery’s general manager.

Niels Guldager, an architect, will design the restaurant’s interior, which is currently under construction. Guldager has designed spaces for a number of popular restaurants including Nobu 57.

Glazier filed for bankruptcy in November 2010 after it was unable to restructure loans according to written reports. The company operates a group of seemingly profitable and popular eateries in the city, including Michael Jordan’s and Strip House, a high-end steakhouse, but is weighed down by heavy debt.

Gravy will be located among a number of high profile restaurants and eating venues in the Flatiron District, including Gramercy Tavern, A Voce, Eataly, Dylan Prime, Veritas, and BLT.

Glanzberg did the deal in partnership with JOSH BOWLING, an associate director at Sinvin. He said that he is exploring opportunities with Gravy to potentially roll out other locations for the restaurant in major cities nationwide.