Vornado Realty Trust and LeFrak announced an agreement with Le Colonial to open a new restaurant at 50 West 57th Street, marking the acclaimed French Vietnamese concept?s highly anticipated return to Manhattan. This new location is expected to open summer 2027. Under a 15-year lease, Le Colonial will create a new dining destination across 9,600 square feet located between Fifth and Sixth Avenues in the heart of Midtown Manhattan.
The restaurant will feature 215 seats, offering indoor and outdoor seating, a full bar and lounge, and private dining. In addition, Le Colonial signed a companion office lease to house its New York City offices on the building?s entire seventh floor.
Vornado Realty Trust is a fully-integrated real estate investment trust (REIT). The Company conducts its business through, and substantially all its interests in properties are held by, Vornado Realty L.P. Its portfolio is concentrated on premier office and high street retail properties in New York City. Its segments include New York and Other. Its New York segment consisted of 26.7 million square feet in 60 properties. The 26.7 million square feet comprises 20.4 million square feet of Manhattan office in 30 of the properties, 2.4 million square feet of Manhattan street retail in 50 of the properties, 1,662 units in five residential properties, and its 32.4% interest in Alexander’s, which owns five properties in the greater New York metropolitan area. It also includes nine garages totaling 1.6 million square feet (4,685 spaces). Its Real Estate and Investments consists of 3.7 million square foot THE MART in Chicago, a three-building office complex in San Francisco’s financial district.
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