Is the mayor of Flavortown causing trouble for Kushner Companies? Guy Fieri’s restaurant closure creates challenge for Times Square retail condo
From left: Guy’s American Kitchen Bar at 220 West 44th Street, Guy Fieri and Charlie Kushner (Credit: Getty Images)
Kushner Companies’ retail condominium at the old New York Times building could be facing challenges in the wake of Guy Fieri’s restaurant closing, according to a new report.
Guy s American Kitchen Bar, a yet-to-be opened food hall run by celebrity chef Todd English and a space showcasing a miniature Manhattan that was behind on its rent combined to account for $9.9 million in annual rental income at 220 West 44th Street, Bloomberg reported.
When Kushner landed a $285 million loan from Deutsche Bank in 2016 to refinance the property, underwriters estimated that the retail space would generate $24 million annually when fully occupied. Operating costs and interest payments amount to about $22 million per year, according to Bloomber上海龙凤论坛sh1f