SAGA Hospitality Group, known for its thriving restaurants at 70 Pine Street that contributed to the dining boom in the Wall Street area, is now expanding its reach uptown. Led by managing partner and head chef James Kent, the group has secured a lease for a 7,000 square-foot eatery at BXP’s 360 Park Avenue South at East 26th Street. This development marks a significant milestone for both SAGA and BXP, formerly known as Boston Properties.
Kent, who oversees the ground-floor Crown Shy at 70 Pine and the rooftop establishments SAGA and Overstory, has always wanted to extend SAGA’s presence. On the other hand, BXP was seeking a standout restaurant to add allure to their vacant, 450,000 square-foot office tower in Midtown South, which dates back to 1913. In December 2021, BXP acquired the leasehold interest for $300 million and is now investing $100 million to revitalize the impressive property. The joint venture involves the Canadian pension fund CPPIB and the Singapore private wealth fund GIC. The comprehensive modernization plan includes the installation of new elevators and lobbies, as well as various tenant amenities like a roof deck, indoor lounges, a bike room, and meeting spaces.
Kent’s expertise in managing Crown Shy, SAGA, and Overstory has garnered SAGA Hospitality Group a reputation for providing exceptional dining experiences in the Financial District. Hilary Spann, BXP’s New York region executive vice president, expressed excitement about expanding SAGA’s influence to the flourishing Midtown South neighborhood. Kent noted that the new eatery is an addition to their accomplishments in the lower area of the city.
Scheduled to open in early 2024, the yet-to-be-named venue will concentrate on seafood and draw inspiration from the renowned Grand Central Terminal Oyster Bar. Kent expressed his desire to experiment with their famous oyster pan roast. The restaurant will be situated on the ground floor at the north corner of the building.
The Grand Central eatery holds special significance for Kent, as it served as the first date spot for his grandmother and the legendary jazz musician Charles Mingus, who eventually became her husband. “It has always been an important restaurant for our family,” he shared. Kent envisions a lively and bustling restaurant with approximately 140 seats for his new establishment.
Adding to the culinary experience, SAGA’s pastry chef Renata Ameni will lead a daytime patisserie, which will transform into a bar for the restaurant during evenings.
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