Following years of conflict with its Jackson Heights neighbors as well as one failed lease attempt in the mid-2000s, the MTA Board will vote today to rent nearly 3000 square feet of empty space at the 74th St./Roosevelt Ave. station to the Famous Famiglia restaurant, according to documents released this week. In approving the 20-year lease, the authority should put an end to what one city councilman called in November a “shining example of MTA incompetence” while appeasing neighborhood groups who have clamored for just about anything to go into the space.
According to the MTA documents, this two-level space, subject to much hand-wringing over the last five years, had been leased to a company called Cosanba, Inc. in 2006. The company was to open a Korean bakery but was “unable to complete the process of submitting plans for code review.” The MTA decided to cancel the least last year and relet the space. Last December, they requested proposals for a 20-year lease, and Famous Famiglia’s bid of nearly $2.6 million topped a list of 13 that included Ottomanelli & Sons, Starbucks and McDonalds.
The pizza restaurant, known throughout the New York region, will operate a 24-hour restaurant at the popular subway hub. The menu will include pizza, pasta, salads, sandwiches and breakfasts, and the MTA, per the documents, is confident that the company can take a challenging space and turn it into a successful restaurant. Famous Famiglia, for better or worse, has buit a business on doing the same in airports, sports stadiums and shopping malls throughout the country.
Famous Famiglia’s proposal, the highest by nearly $1 million, and it “exceeded the appraised value of the space.” Those expecting a pizza joint to open soon though might be in for a bit of a wait. The company will have to bring a gas line into the building and will have to develop a “raw” space. “Famous Famiglia has had significant successful experience in building out spaces,” the MTA document says, “and has demonstrated that it has the financial resources sufficient to complete construction.”
For the MTA, that this lease will represent a big increase over the initial one may portend a sign of better commercial real estate options for the authority. As it seeks to lure an Apple Store into Grand Central, it has netted itself a fine establishment for a space that has remained empty for far too long.
Still, those in the neighborhood are going to be a bit wary until construction starts. This story first came to light in November, over six months ago, and those in the neighborhood told me then that they expected the space to remain empty until late 2012 at the earliest. Perhaps Famous Famiglia’s past experience can speed up the process, but for now, this empty eyesore is moving closer toward a tenant. It’s a clear step in the right direction.
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