**SK Hospitality Group Takes Over Former Bobby Van’s Space at 25 Broad Street**
Danny Volk, Marc Johnson, and Kayla Terzi of Vantage Real Estate Advisors have arranged a 15-year lease at 25 Broad Street on behalf of Regal Ventures. The lease secures a 15,000-square-foot bi-level restaurant space in The Broad Exchange Building, previously occupied by Bobby Van’s Steakhouse. The space will now be taken over by renowned restaurateurs Stylianos Kakavelis and Jake Schneider of SK Hospitality Group.
This lease at the largely residential Broad Exchange Building highlights the continuing transformation of Lower Manhattan’s Financial District into a vibrant, lifestyle-centric neighborhood, according to Vantage Real Estate Advisors.
SK Hospitality Group plans to open two unique dining concepts in the location. On the ground floor, a full-service Pan-Asian restaurant will welcome patrons, while the lower level will feature an upscale Latin fusion restaurant and lounge. A standout feature of the space is its preservation and incorporation of the building’s historic walk-in bank vault, which will be a central design element of the lounge.
With an asking rent of $1 million per year, the deal is emblematic of the rising demand for experiential dining destinations in Lower Manhattan. The venue is scheduled to open later this year.
