Commercial Real Estate & Advisory
Commercial Real Estate & Advisory
A burger joint is launching in Murray Hill. Sons of Thunder recently signed a 15-year lease for 2,000 square feet at 204 E. 38th St., between Third and Second avenues. The asking rent for the space, which includes a 900-square-foot basement, was $85 a square foot. Getting such low rent was a bargain, noted Steve Rappaport, the Sinvin Real Estate broker who, along with colleague Margie Sarway, represented the landlord, 204 East 38th Property.
“They had the foresight to choose a location visible from Third Avenue, yet with side-street pricing,” he said. Mr. Rappaport noted that Sons of Thunder emphasizes fresh, local and organic ingredients and is similar to the hyper-popular burger chain Shake Shack.
According to Rachel Kim, the SCG Retail broker who represented the tenant in negotiations, Sons of Thunder plans to open additional locations.
The eatery, at the site that was the longtime home of New World Aquarium, is expected to open for business within four months.