The Newest Restaurant Trend
Sahara Group's Kevin Lillis (right) says smart restaurateurs are leveraging their standalone locales (which face static margins and rising rents) with food markets like The Plaza’s (his company is majority owner), as well as Chelsea Market, Gotham Market, the food hall at Milford Plaza, one coming to the Helmsley Building, and one by Anthony Bourdain coming to a mystery location. (Better that than a mystery meat.) Peter recently became acquisitions head for Alto, which focuses on value-add retail. The fund has had its first close toward a $100M commitment and will focus on $15M to $75M deals. He says there are a lot of opportunities in Texas, Florida, and Colorado. He's pictured at Friday’s MMA Real Estate Fight Night at Terminal 5 with co-host Peter Auerbach (right) of Alto Investment and Matt Schmeelk of National Land Tenure Co.