Paramount REIT Signs Michelin Rated Restaurant in Midtown Office Tower
Office REIT Paramount has signed renowned Michelin rated restaurant Din Tai Fung to the iconic “Glass Cube” space at the REIT’s 1633 Broadway property in Midtown Manhattan.
Paramount, which specializes in Class A “trophy” type properties, has signed Din Tai Fung to a 15-year lease of the 26,000-SF Glass Cube. The 48-story 1633 Broadway property is located between 50th and 51st streets.
The Glass Cube space is being redesigned by renowned architect David Rockwell and the restaurant is slated to open in 2023. The restaurant will be situated in the retail space beneath the glass cube entry. The property is home to Warner Music Group, Equinox, Allianz, BNY Mellon and Morgan Stanley. Morgan Stanley CEO James Gorman famously told employees last summer, “If you can go to a restaurant in New York City, you can come into the office.” Din Tai Fung’s opening at the base of a large financial services tower signals the return to office, and lunchtime dining, long-feared would not return due to COVID 19.
Terms of the lease were not disclosed. Din Tai Fung has several locations in the United States, including in California, Oregon, Washington and Nevada. This will be the first East Coast location.