Commercial Real Estate & Advisory

La Palapa Restaurant Takes Space For Second Location

May 6, 2003

Mexican restaurant, La Palapa, best known for its innovative Mexican cuisine, has recently signed a lease at 359 Avenue of The Americas, between West 4th and Washington Place for its second location.  Roxanne Betesh of Sinvin Realty, who represented the tenant in the transaction, signed the restaurant to a 10-year lease for 1,600 sq. ft. of ground-floor space, plus 1000 sq. ft. of basement space. The terms of lease were undisclosed, but the asking price had been $120,000 a year.The original La Palapa, located at 77 St. Mark’s Place (between First and Second Avenues), was started by Barbara Sibley and Margaritte Malfy in 2001.  The restaurant was voted one of the top 100 best places to eat in New York City, according to TimeOut NY 2002 Eating & Drinking Guide.”Sinvin is happy to be part of helping such a bright and cheerful East Village Restaurant open its second location in the West Village,” said Betesh.  “This location will allow the restaurant to take advantage of the steady residential population as well as the strong tourist business in the Village.”The space was formerly occupied by McBell’s a long time Village restaurant.