“With the lifting of capacity restrictions in the city, we believe we are at an inflection point for the hospitality industry, which will lead to more rental opportunities,” said Judson.
Bar and Books, a cigar bar, was the last tenant at 1020 Lexington Ave. The company also has a location in the West Village, as well as two locations in Prague and one in Warsaw.
The Martignetti brothers also run the East Pole, an Upper East Side restaurant at 133 E. 65th St. They previously operated Eastfields and East Pole Fish restaurants, but these have closed during the pandemic.
The pandemic has taken a heavy toll on Manhattan’s retail sector, and restaurants in particular have gone through an extremely difficult year of strict rules and restrictions.
Optimism is growing in the industry, however, as the state lifts the last of its remaining pandemic-related restrictions. British furniture retailer Timothy Oulton said on Tuesday it would open an approximately 7,200 square foot flagship store at 901 Broadway in the Flatiron District over the summer, and a CBRE report said the first quarter of the year The year, while bleak, could have represented Manhattan’s retail nadir.