The ownership group behind Friedman’s Restaurant and Pastrami Queen has purchased a retail cooperative unit on Manhattan’s Upper West Side, paving the way for another Friedman’s outpost in the neighborhood. Lee & Associates NYC announced that the group acquired an approximately 5,000-square-foot retail cooperative unit at 541-555 Amsterdam Ave. for $4.135 million.
The buyer in the transaction is Mountain View Acquisition LLC. Peter Braus, president of Lee & Associates NYC, represented Mountain View Acquisition LLC in the purchase. The seller, 176 West 87th Leasehold LLC, a family-controlled entity, was represented by Brandon Polakoff and his team at Avison Young. Attorney Joshua Stein acted as the seller’s representative and counsel in connection with the sale.
The cooperative unit currently houses two long-standing neighborhood businesses. Barney Greengrass, a longtime Upper West Side restaurant and appetizing shop, occupies space at the property, as does Hudson & Charles, a local butcher shop. According to the announcement, both Barney Greengrass and Hudson & Charles will remain in place following the sale, and their operations are expected to continue under the new ownership.
The new ownership group plans to activate an existing vacant restaurant space within the cooperative unit by opening a new Friedman’s Restaurant. The forthcoming location is being designed and positioned to appeal specifically to the Upper West Side neighborhood, building on Friedman’s existing presence elsewhere in the city and the broader portfolio of restaurant concepts associated with the group.
By acquiring the retail cooperative rather than simply leasing space, the restaurant ownership group is securing long-term control over a key corner of Amsterdam Avenue. Braus noted that the transaction allows the group to expand its footprint in a prime Upper West Side location while preserving a well-established New York dining institution already operating within the property.
