The SAGA Hospitality Group, whose important restaurants on 70 Pine Street helped drive Wall Street’s foodservice boom, is expanding downtown.
A gaggle led by managing partner and chef James Kent has signed a lease for a 7,000-square-foot food court at BXP 360 Park Avenue South at East 26p Street.
This is a big step for SAGA and BXP, formerly often called Boston Properties. Kent, who runs the one-story Crown Shy at 70 Pine and SAGA and Overstory on the highest floor, desired to expand SAGA’s reach.
Meanwhile, BXP needed a distinctive restaurant to lend a cool factor to an empty, 450,000-square-foot 1913 historic office constructing in Midtown South.
BXP is spending $100 million to redevelop the attractive estate where it bought a stake within the lease for $300 million in December 2021. The three way partnership includes the Canadian pension fund CPPIB and the Singaporean private wealth fund GIC.
The highest-down refurbishment includes latest elevators and lobbies in addition to tenant amenities comparable to a rooftop terrace, indoor lounges, bicycle storage and meeting areas.
![James Kent runs the one-story Crown Shy at 70 Pine and SAGA and Overstory on the top floor.](https://nypost.com/wp-content/uploads/sites/2/2023/07/NYPICHPDPICT000014067227.jpg?w=1024)
SAGA “has built a popularity for world-class dining experiences within the Financial District, and we’re excited to increase that to the burgeoning Midtown South,” said Hilary Spann, BXP’s vice chairman, Latest York region.
Kent said the brand new eatery “is an addition to all the things we do here.”
The as-yet-unnamed venue, set to open in early 2024, shall be “seafood driven and inspired by the Grand Central Terminal Oyster Bar.” We might like to play with their famous baked oysters,” Kent said.
![The new eatery will be located on the ground floor in the northern corner of the building.](https://nypost.com/wp-content/uploads/sites/2/2023/07/NYPICHPDPICT000014067226.jpg?w=1024)
He explained that the famous Grand Central diner is very dear to Kent’s heart since it was where his grandmother and the nice jazzman Charles Mingus went on their first date before their wedding.
“This was a crucial restaurant for our family,” he said.
Kent’s apartment shall be on the bottom floor within the northern corner of the constructing.
“Our intention is a large, full of life restaurant with around 140 seats,” he said.
Confectioner Saga Renata Ameni will run a pastry shop by day, which is able to turn into a restaurant bar by night.